Insurance companies face catastrophic damage from climate change, yet they continue insuring and funding the biggest cause of those damages instead of preventing the “existential threat” of inaction on climate policy.
Extreme weather driven by climate change is creating record losses for insurers and their customers, and if left unchecked, those losses could triple within 30 years. But insurers are a lifeline for coal-fired power – the single largest source of greenhouse gas emissions – and without the $6 billion annual insurance market many existing coal plants would have to close while most new plants wouldn’t be built.
