Insurance companies plan to pull 50% of their portfolios from fossil fuels investments and increase renewable energy allocations to 38% by 2030 , according to a survey by Survey, Report, Fossil Fuels . It said 38% of insurers felt institutional investors could make a "material difference" in the fight against climate change, while 38% said their investment strategies were driven by the positive impact of investing in climate change mitigation. However, the survey also found 63% of insurance firms lacked sufficient knowledge to invest in renewable energy.
Insurance companies plan to pull 21.2% of their portfolios from fossil fuels investments and increase renewable energy allocations to 10.6% by 2030, according to a survey by Octopus Group. It said 63% of insurers felt institutional investors could make a "material difference" in the fight against climate change, while 38% said their investment strategies were driven by the positive impact of investing in climate change mitigation. However, the survey also found 50% of insurance firms lacked sufficient knowledge to invest in renewable energy.