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Valued Social Butterfly
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Re: Another Insurance Co. Phasing Out Coal Investments & Policies

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Message 21 of 24

Coal will phase itself out when there are cleaner, cheaper, more efficient ways to heat/produce electricity and NOT because of Climate Change!

 

FYI- Coal now produces approximately 30% of our electric power!

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Re: Another Insurance Co. Phasing Out Coal Investments & Policies

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Message 22 of 24

@KidBoy2 wrote:
MsStretch posted..

Deny climate change or not, but thank God there are some major players who are taking it seriously and moving forward to the future instead of staying stuck in a antiquated past.

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I do not think you understand how business works.

The reason they are disinvesting in coal is about their money...coal is not a good investment. Its not about climate change.

Thanks to our new ways to produce electric power coal would be on its way out even if we had global cooling.


Agreed that coal is not a good investment. Not for investors and not for our nation. 

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Re: Another Insurance Co. Phasing Out Coal Investments & Policies

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Message 23 of 24
MsStretch posted..

Deny climate change or not, but thank God there are some major players who are taking it seriously and moving forward to the future instead of staying stuck in a antiquated past.

===================================================

I do not think you understand how business works.

The reason they are disinvesting in coal is about their money...coal is not a good investment. Its not about climate change.

Thanks to our new ways to produce electric power coal would be on its way out even if we had global cooling.

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Another Insurance Co. Phasing Out Coal Investments & Policies

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Message 24 of 24

From The Guardian:

 

Chubb will become the first US insurer to turn its back on the global coal industry by beginning to phase out its coal investments and insurance policies within the next three years.

Chubb has ruled out selling new insurance policies to companies which build or operate coal power plants, or those which generate more than 30% of their revenue from coal mining or supplying coal-fired electricity.

It will also stop investing in these companies because of their contribution to the global climate crisis.

Chubb joins a third of global companies who are limiting, restricting or excluding coverage of the coal industry.

 

Chubb’s anti-coal pledge is the latest in a rising number of divestments among major financial players as the risks of the climate crisis become clearer.

The climate breakdown poses a financial threat to insurers because severe weather, hurricanes and wildfires are all likely to increase in frequency and intensity as global temperatures climb.

Deny climate change or not, but thank God there are some major players who are taking it seriously and moving forward to the future instead of staying stuck in a antiquated past.



    

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