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International

Sompo to stop insuring coal companies

June 29, 2022 Reprints

Japan-based nonlife insurer Sompo Holdings Inc. has committed to stop insuring and investing in coal companies by 2025, Bright Green reported. With this, Sompo has become the first Asian insurer to work towards moving away from coal. Sompo’s definition of a coal company covers any firm that derives more than 30% of its revenue from coal-related activities or electricity utilities that generate over 30% of power through coal.

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Sompo to stop insuring coal companies

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