shareholder proposal (advisory) · 2022
Green Century Capital Management at The Travelers Companies, with similar proposals at The Hartford and Chubb
Address climate risk by ceasing to underwrite new fossil fuel supply, the first proposal of its kind at the insurers.
What happened
Result: 13.2 percent in favour at Travelers' annual meeting on 25 May 2022, as Item 6: 25,512,481 for, 167,325,148 against, 2,361,292 abstaining and 19,306,309 broker non-votes. Green Century filed similar proposals at The Hartford and Chubb, which it says had similar results.
Green Century said the level of support was strong enough to let it refile the following year if the companies did not act. At the time of the vote all three insurers restricted underwriting for most new coal and tar sands projects, but none restricted insuring new gas and oil projects, and we found no change to any of their underwriting policies documented in the pages we opened.
Who is involved
- Green Century Capital Management filer
- Travelers Companies (The) company
- Hartford (The) company
- Chubb Limited company
What this campaign is about
- Build resilience of the poor to shocks Helpful · UN Sustainable Development Goals