California Commissioner calls for divestiture from carbon-based
investments
California Insurance Commissioner Dave Jones calls for insurance
industry divestment from thermal coal and announces a new
requirement for disclosure of carbon-based investments held by
insurance companies.
In an unprecedented move, California Insurance Commissioner Dave
Jones last week requested that all insurance companies doing
business in California voluntarily divest from their investments in
thermal coal. This would include making no new investments,
not renewing any existing investments, and selling or withdrawing
from existing investments. Jones also announced that he will
require, beginning in April of this year, insurance companies to
disclose annually their carbon-based investments including those in
oil, gas, and coal. These similarly unprecedented public financial
disclosures will be used by the Department of Insurance to assess
the degree of financial risk posed to insurance
