Chubb To Only Insure Oil, Gas Projects if Companies Pledge To Cut Methane Emissions

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.



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