Chubb Limited has announced new underwriting criteria for oil and gas extraction projects that require clients to reduce methane emissions and not operate in government-protected conservation areas that do not allow sustainable use. Chubb will continue to provide insurance coverage for clients that implement evidence-based plans. The policy applies to conservation areas covered by International Union for the Conservation of Nature (IUCN) management categories I-V in the World Database on Protected Areas. The company also launched a new climate business unit, Chubb Climate+, to provide insurance products and services to businesses transitioning to a low-carbon economy.
resource: https://esgnews.com/chubb-to-only-insure-oil-gas-projects-if-companies-pledge-to-cut-methane-emissions/