China’s investments in coal-based power, iron and steel capacity accelerated in the first half of the year, putting the country’s commitments to decarbonise its economy at risk. Photo: Reuters
China’s investments in coal-based power, iron and steel capacity accelerated in the first half of the year, putting the country’s commitments to decarbonise its economy at risk. Photo: Reuters

Chinese insurers rank at the bottom of industry’s progress in phasing out support for fossil fuel

  • PICC and China Export & Credit Insurance Corp came in last, while Ping An ranked 22nd on a list of 30 companies assessed by global NGO coalition Insure Our Future
  • A total of 41 insurers have withdrawn or reduced insurance cover for coal-based industries since the first report was published in 2017, up from 35 in 2021 and 23 in 2020

China’s investments in coal-based power, iron and steel capacity accelerated in the first half of the year, putting the country’s commitments to decarbonise its economy at risk. Photo: Reuters
China’s investments in coal-based power, iron and steel capacity accelerated in the first half of the year, putting the country’s commitments to decarbonise its economy at risk. Photo: Reuters
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