In the run-up to COP27, insurers appear to be the financial services sector driving meaningful action, as banks seek to refine their commitments as members of the Glasgow Financial Alliance for Net Zero (GFANZ) and Race to Zero coalitions.
Tag: energy insurance
Zurich NA Construction and Energy Teams Add Sustainability Roles
Insurance and risk services provider Zurich North America has created three roles to support Zurich Construction and Energy customers in their evolving sustainability objectives and hired notable professionals to lead this work. “Climate change is one of the most urgent risks confronting our customers, and many are working toward carbon-neutral goals,” said Paul Lavelle, Head… Continue reading Zurich NA Construction and Energy Teams Add Sustainability Roles
Energy Transition Being Accelerated by Events in Eastern Europe
The need to manage energy transition risk is being accelerated by the requirement to seek alternative sources of energy to oil and gas following events in eastern Europe, according to WTW, a leading global advisory, broking, and solutions company, at the launch of its annual Energy Market Review. The report also covers the volatility of… Continue reading Energy Transition Being Accelerated by Events in Eastern Europe
New Infrastructure Law Expected to Boost U.S. Surety Market: AM Best
The recently enacted $1.2 trillion U.S. infrastructure package is expected to result in more business opportunities for surety companies given the new and sizable investments that the transportation and energy sectors will see, according to a new AM Best report. The new law includes $550 billion in new spending on infrastructure over the next five… Continue reading New Infrastructure Law Expected to Boost U.S. Surety Market: AM Best
Senate Nixes Trump Rule Limiting Methane Regulation
The Senate voted Wednesday to undo a Trump administration rule that rescinded methane emissions limits and made it harder to regulate releases of the greenhouse gas from the oil and gas sector. In the 52-42 vote, three Republicans voted with Democrats to get rid of the rule: Sens. Rob Portman (Ohio), Lindsey Graham (S.C.) and… Continue reading Senate Nixes Trump Rule Limiting Methane Regulation
20 States Sue EPA Over Methane Emissions Standards Rollback
A coalition of 20 states and four municipalities sued the Environmental Protection Agency (EPA) on Monday over its rollback of methane emissions standards for oil and gas production. Last month, the EPA formally rescinded Obama-era standards that regulate methane emissions from oil and gas production, processing, transmission and storage. It also rolled back requirements for… Continue reading 20 States Sue EPA Over Methane Emissions Standards Rollback
Millions of Abandoned Oil Wells Are Leaking Methane, A Climate Menace
In May 2012, Hanson and Michael Rowe noticed an overpowering smell, like rotten eggs, seeping from an abandoned gas well on their land in Kentucky. The fumes made the retired couple feel nauseous, dizzy, and short of breath. Regulators responding to the leak couldn’t find an owner to fix it. J.D. Carty Resources LLC had… Continue reading Millions of Abandoned Oil Wells Are Leaking Methane, A Climate Menace
COVID-19 Workplace, Supply Chain Risks Having Significant Impact on Power Sector
Pressures on workforce availability and maintaining supply chains arising from COVID-19 are proving challenging to the power sector, according to Willis Towers Watson, a leading global advisory, broking and solutions company, at the launch of its Power Market Review. Additionally, the increasing focus on environmental, social and governance (ESG) is having a significant impact on… Continue reading COVID-19 Workplace, Supply Chain Risks Having Significant Impact on Power Sector
Energy & Marine Advisor Joins Alliant in Houston
Alliant Insurance Services has announced that Karey Vaught has joined Alliant as Executive Vice President, Managing Director. Vaught will provide insurance and risk advisory services to energy and marine clients across the United States. “Karey brings with him an impressive track record and strong leadership skillset,” said John Ludwig, Co-COO, Alliant Specialty. “We will work… Continue reading Energy & Marine Advisor Joins Alliant in Houston
Liberty Mutual Announces Global Policy on Coal Underwriting and Investing, Appoints First Chief Sustainability Officer
Liberty Mutual Insurance today announced long-time company leader Francis Hyatt as the organization’s first Chief Sustainability Officer. Hyatt will further enhance the organization’s ongoing focus on significant environmental, social and governance (ESG) issues, and lead the company’s Office of Sustainability. The company also announced its global policy on coal underwriting and investing. Liberty Mutual will:… Continue reading Liberty Mutual Announces Global Policy on Coal Underwriting and Investing, Appoints First Chief Sustainability Officer