The Hartford Announces Its Policy On Insuring, Investing In Coal, Tar Sands
HARTFORD, Conn.--(BUSINESS WIRE)--Dec 20, 2019--
The Hartford announced its policy on insuring and investing in coal and tar sands. The company will no longer insure or invest in companies that generate more than 25 percent of their revenues from thermal coal mining or more than 25 percent of their energy production from coal. In addition, the company will also stop insuring and investing in companies that generate more than 25 percent of their revenues directly from the extraction of oil from tar sands.
“The world needs affordable, accessible energy to support global economic progress and, at the same time, action is needed to mitigate the impact such activity has on our climate,” said The Hartford’s Chairman and CEO Christopher Swift. “Extreme weather affects people’s lives and businesses – and the risks are getting worse. As an insurer and asset manager we recognize the growing cost of this crisis, and we’re determined to use our resources and influence to address the challenge. That’s why we have taken a position on coal and tar sands.”
The policy parameters include:
About The Hartford
The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com. Follow us on Twitter at @TheHartford_PR.
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please read The Hartford’s legal notice.
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2018 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
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CONTACT: Media Contacts:
Susan Spivak Bernstein
KEYWORD: CONNECTICUT UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES ENVIRONMENT COAL INSURANCE ALTERNATIVE ENERGY ENERGY
SOURCE: The Hartford
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PUB: 12/20/2019 02:00 PM/DISC: 12/20/2019 02:01 PM