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As the hurricanes hit, Big Insurance must stop its hypocrisy

Insurance firms recognise the risks of climate chaos – but they’re still underwriting major new fossil fuel projects. Campaigners are calling on them to stop.

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Hurricane_Harvey_approaching_Texas_IR.png

Image: Hurricane Harvey gathering force, Wikimedia.

The devastating impacts of climate change are everywhere right now - from the floods that left millions uprooted in Asia this summer, to the onslaughts of Hurricanes Harvey and Irma.

The insurance industry was one of the first to acknowledge the risks of climate change – but it continues to underwrite coal and fossil fuel projects: mines, power plants and pipelines. The insurance companies continuing to back coal projects are driving runaway climate change, devastating communities and impacting vital water and ecosystems – even as they claim to be leaders in sustainable development and the transition to a clean energy economy.