Australian insurer QBE has scored zero in an annual ranking of companies with links to coal. The Greenpeace-backed Unfriend Coal campaign criticised QBE, as well as Australia and Japanese firms, for a lack of restrictions on insuring coal and tar sands and for not reducing investments in coal-based industries. A QBE spokesman said the company's exposure to fossil fuels was "very low" and it will reassess its underwriting strategy in 2019, following a "detailed analysis of climate-related risks and opportunities".
Australian insurer QBE has scored zero in an annual ranking of companies with links to coal. The Greenpeace-backed Unfriend Coal campaign criticised QBE, as well as US and Japanese firms, for a lack of restrictions on insuring coal and tar sands and for not reducing investments in coal-based industries. A QBE spokesman said the company's exposure to fossil fuels was "very low" and it will reassess its underwriting strategy in 2019, following a "detailed analysis of climate-related risks and opportunities".