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CHUBB and coal

Discussion in 'Environmental Discussion' started by bwilson4web, Jul 11, 2019.

  1. bwilson4web

    bwilson4web BMW i3 and Model 3

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    Source: Chubb Announces New Policy on Coal Underwriting and Investment - Jul 1, 2019

    ZURICH, July 1, 2019 /PRNewswire/ -- Chubb Limited (NYSE: CB) today announced that it has adopted a new policy concerning coal-related underwriting and investment. With the new policy, the company will no longer underwrite the construction and operation of new coal-fired plants or new risks for companies that generate more than 30% of their revenues from coal mining or energy production from coal. Insurance coverage for existing coal-plant risks that exceed this threshold will be phased out by 2022, and for utilities beginning in 2022. In addition, Chubb will not make new debt or equity investments in companies that generate more than 30% of revenues from thermal coal mining or energy production from coal. ​

    Bob Wilson
     
    #1 bwilson4web, Jul 11, 2019
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  2. noonm

    noonm Senior Member

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    Coal getting to the "pump and dump" stage of investment. No insurance company wants to be on the hook for that.
     
    #2 noonm, Jul 12, 2019
  3. bisco

    bisco cookie crumbler

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    #3 bisco, Jul 12, 2019
  4. tochatihu

    tochatihu Senior Member

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    US Coal has (my opinion) responsibility for worker pensions in general and black-lung victims' medical costs in particular. If bosses just fly around in their jets and nicely manage twilight of govt subsidies, they could be seen under performing as human beings.
     
    #4 tochatihu, Jul 13, 2019
    Robert Holt likes this.
  5. RobH

    RobH Senior Member

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    Being diagnosed with black-lung opens the door to the black lung disability fund. Otherwise known as coal miner's retirement fund.

    See John J Cannell, MD, biography

    Notice also how all West Virginia counties test as above average in elementary achievement tests. Actually, it's 100% of states are above average. We all live in Lake Woebegone...
     
    #5 RobH, Jul 13, 2019
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  6. noonm

    noonm Senior Member

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    They should, but US coal companies are master classes in how to shirk your responsibilities and obligations. They did it in West Virginia and now their doing it in Wyoming.
     
    #6 noonm, Jul 13, 2019
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