Boston, May 16, 2025 – Chubb’s investors voted Thursday on a Green Century shareholder proposal calling for the company to disclose the climate emissions associated with its investing, underwriting and insuring activities. 13.9% of shareholders cast their votes in favor of the proposal. Chubb is one of the largest publicly traded property and casualty insurers, operating in 55 countries across the globe.
“Investors deserve to know how Chubb’s emissions are driving the climate risks disrupting its business,” said Leslie Samuelrich, president of Green Century. “It’s absurd for Chubb to underwrite activities that cause climate change and then turn around and pay for the claims and payouts caused by these activities.”
As climate change intensifies, insurers are increasingly on the hook after more frequent and severe natural disasters. At the same time, many continue to insure fossil fuel projects that exacerbate the losses from those events. Many major insurance companies such as Allianz and Swiss Re have begun disclosing the emissions associated with their fossil fuel clients, increasing transparency on their role in intensifying the climate crisis.
Chubb insures climate risks
Last year’s wildfires in Los Angeles and destructive hurricane season in the Atlantic have sparked concern about a climate-driven insurance crisis. 2023 had the most billion-dollar climate-related disasters in one year. Insurance companies are increasingly unable to withstand growing losses without raising prices or reducing coverage in high-risk areas.
Chubb has noticed the impact of climate change on its bottom line. Following an estimated $1.5 billion dollars in losses from the 2024 California fires, Chubb’s Chief Executive Evan Greenberg warned: “The cost of climate change, to state the obvious: Going up.”
“The companies that are supposed to protect us from the consequences of climate change are also fueling its disastrous effects,” said Green Century Shareholder Advocate Giovanna Eichner. “Chubb reporting the emissions from its underwriting, investing, and insuring would demonstrate accountability and an intent to reduce its climate impact.”
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