Carbon NewsAIG to Go Net Zero and Exit Coal / Oil Sands

AIG to Go Net Zero and Exit Coal / Oil Sands

American International Group Inc. (NYSE: AIG) is stepping up with its own net-zero pledge.

AIG has committed to reaching Net Zero GHG (Greenhouse Gas) emissions across its underwriting and investments portfolios by 2050.

They’ve announced that they’re not investing directly into or providing insurance for the construction of any new coal-fired power plants, thermal coal mines, or oil sands projects.

They have also taken it a step further and announced they are phasing out investing and insuring companies that get over 30% of their revenue from these industries.

The New York-based insurer is also halting investing and insuring all new Arctic energy exploration activities.

AIG has also committed to having 100% renewable energy for its operations by 2030.

The data about climate change is unambiguous and we believe that AIG can be a catalyst for positive change as it relates to sustainability advancements and renewable energy expansion.” AIG Chairman and CEO Peter Zaffino said in the statement.

Last year AIG had revenues of over $52 Billion.



Most Popular



Ultimate Guide



Loading...



LATEST CARBON NEWS

U.S. SEC Greenlights First Stock Exchange Focused on Sustainable Investing

The Green Impact Exchange (GIX) is about to make history. It’s set to become the first U.S. stock exchange focused only on companies that...

Microsoft’s $800M Carbon Removal Deal Sets Record in Climate Fight

Microsoft has taken a major step in its efforts to reduce its impact on the environment. The tech company recently signed the biggest-ever deal...

Apple’s Clean Energy Blueprint: A Huge Leap with a 60% Carbon Cut

Apple has proved that climate action is more than a responsibility. It can be a powerful driver of business growth. Since 2015, the company...

Hydrostor’s $1.5B Willow Rock Project Faces Permit Hurdles —but Could Revolutionize California’s Power Grid

Hydrostor, Canada’s leading developer of long-duration energy storage projects, is moving ahead with its $1.5 billion Willow Rock Energy Storage Center in Kern County,...
CARBON INVESTOR EDUCATION

Planting Trees for Carbon Credits: Everything You Need to Know

As climate change intensifies, nations and industries are seeking innovative ways to cut carbon footprints. Carbon credits have emerged as a key tool in...

What is SMR? The Ultimate Guide to Small Modular Reactors

Energy is the cornerstone of modern life. We need electricity for healthcare, transportation, communication, and more. Many countries are choosing nuclear power because it...

What Is Carbon Dioxide Removal? Top Buyers and Sellers of CDR Credits in 2024

The world must remove 5–16 billion metric tons of CO₂ annually by 2050 to limit global warming to 1.5°C. But with emissions still rising,...

Top 5 Carbon ETFs for Sustainable Investing in 2025

Like stocks, investors can buy and sell Exchange-Traded Funds (ETFs) whenever the market is open. Often investing in carbon credits through ETFs offers a...