Dear Mr. Duperreault, Mr. Greenberg, and Mr. Long,
The Intergovernmental Panel on Climate Change (IPCC) has warned that we must urgently take bold action on climate change to limit warming to 1.5 degrees Celsius, the goal of the Paris Agreement. This requires an immediate end to fossil fuel expansion. It is unacceptable that the insurance industry continues to support new coal, oil, and gas projects, actively undermining the goals of the Paris Agreement.
As CEOs of three of the largest property and casualty insurance companies in the US, you have a responsibility to urgently scale up your actions to bring about the rapid and far-reaching transition to a low-carbon economy. Furthermore, these industries pose grave threats to the land rights, health, and wellbeing of communities around the globe that live at sites of fossil fuel sands extraction, transportation, and combustion.
We call on AIG, Chubb, and Liberty Mutual to immediately stop underwriting new fossil fuel projects, phase out all fossil fuel business in line with 1.5ºC, and respect human rights, especially Indigenous rights.