Call on QBE to stop supporting fossil fuels!

QBE provides the insurance that coal mines and power stations, oil rigs and gas pipelines need to operate. The company even insures some of Adani’s business in India.

Take action below to ask QBE’s CEO and Board to become our allies in the urgent mission to phase out the fossil fuels causing the climate crisis and extreme weather. As an insurance company, QBE should be protecting its customers, not exposing them to danger.

Join us in calling on QBE to:

Rule out underwriting any further coal, oil and gas extraction, transportation and infrastructure projects, including the Adani Carmichael mega mine;
Divest from fossil fuel assets in its investment portfolio; and
Advocate publicly and actively for policies that will rapidly reduce carbon emissions and phase out fossil fuel use.

Authorised by Glen Klatovsky, 350 Australia, 50 Reservoir St, Surry Hills, Sydney NSW, 2010.

Act responsibly on global warming - dump coal, oil and gas!

I strongly believe in protecting and improving our natural environment and working to avoid catastrophic global warming. I'm writing because QBE needs to stop being a part of the problem, and start being a part of the solution to climate change.

In recent years, QBE has lost hundreds of millions of dollars on claims from natural disasters. Extreme weather events are increasing in frequency and severity – a direct consequence of climate change.
 
The world is at a point where we need to rapidly transition away from polluting fossil fuels to clean, renewable energy if we are to avoid runaway climate change and insurance companies like QBE are exposed to this issue on many levels.

QBE is underwriting projects that worsen climate change while exposing your shareholders and customers to increased risk through higher premiums and loss of value as natural disasters become more frequent and intense.

QBE is helping to drive climate change, a critical threat to environmental, social and economic stability, while at the same time the impacts of climate change are harming your business.

Given that QBE will face immense change as a result of global warming, I believe you should be outspoken advocates for strong action to rapidly reduce carbon emissions, lobbying the government for change, and communicating the enormity of the problem to the general public.

While it is positive to see QBE starting to move on this issue with a commitment to reviewing its investment and underwriting strategies as part of the TCFD process - it is already obvious what QBE needs to do without delay.

I want QBE to unequivocally rule out underwriting of coal, oil and gas mining/extraction, transport and infrastructure expansion projects. I want QBE to divest from fossil fuel assets in your investment portfolio, and I want to see QBE re-engaging in the public debate on climate change, calling for action from Australian governments and businesses that limit global warming as much as possible. I want QBE to make these commitments directly to me, as well as publicly.

Doing all this is in QBE's interests as well as mine. I will not be considering QBE for my insurance needs until these commitments are made.

Several major insurance companies, such as Swiss Re, Axa and Allianz, have already divested of their coal company shares and pledged to stop underwriting coal mining and coal-fired power plants. When will QBE join them?

I look forward to hearing back from you very soon about the action you intend to take on this issue.

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Call on QBE to stop supporting fossil fuels!

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