Published: July 25, 2019
Activists say move means there are now no Australian insurers willing to underwrite new thermal coal developments
Australian insurance giant Suncorp will no longer insure new thermal coal mines and power plants, and will not underwrite any existing thermal coal projects after 2025.
This is the latest in a series of pledges by banks and financial services companies that they will not support projects that mine or burn coal used for electricity generation, in line with the goals of the 2015 Paris climate agreement.
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