Pledges are in line with Fidelis’ recently made pledges as a member of the Net-Zero Insurance Alliance
Fidelis Insurance Holdings has extended underwriting guidelines which cover a range of industries and issues relating to reduce its support for heavy emitters.
The guidelines span both environmental and social topics, with four umbrella guidelines (Environmental, Human & Labour Rights, Animal Welfare, Rule of Law) and six industry-specific guidelines (Defence & Armaments, Forestry & Agriculture, Mining, Coal, Oil & Gas, Nuclear).
The insurer stopped providing direct insurance for thermal coal plants, projects and infrastructure in 2020, but with the latest guidelines the restrictions around fossil fuels have been expanded.
This reflects the key role insurance must play in supporting the transition towards a low-carbon economy and is in line with Fidelis’ recently made pledges as a member of the Net-Zero Insurance Alliance (NZIA).
Fidelis is fully committed to supporting clients in the energy sector on their journeys towards net-zero. Transition means that these companies must take immediate and impactful steps towards decarbonisation, including exploring the tremendous opportunities around clean energy.