Paris council calls on insurers to stop covering coal projects

Posted On: May. 4, 2018 6:24 AM CST

The Council of Paris has called on chief executives of the world's largest insurers and reinsurers to stop insuring coal projects and help fight global warming, Mining.com reported. Insurers including Germany-based Allianz S.E. and Italy-based Assicurazioni Generali S.p.A. are likely to cover projects such as new coal mines and 15 gigawatt of new coal power in Europe. The council passed a motion appealing specifically to insurers with which the city has contracts to remove their support for projects and companies in the coal sector in the European Union.