HomeCarbon 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
LATEST CARBON NEWS

Xpansiv’s Key Carbon Market Achievements for 1st Qtr of 2023

For the first quarter of 2023, Xpansiv achieved significant results, particularly on its carbon market performance. Here are the key achievements. First up, the dominant...

Which Deserves a Carbon Credit – Nature or Technology?

The United Nations (UN) has drafted a document that will define a new global carbon market for years to come, which seems to favor...

Brazil’s Bill Will Allow Loggers to Earn $24M from Carbon Credits

Brazil’s Congress passed a bill that will make carbon credits available to private companies with forest concessions, serving a first step in regulating the...

Global Renewable Energy to Break Records in 2023, IEA Says

Global additions of renewable power capacity will increase by a third this year, says the International Energy Agency (IEA). In the IEA's 2023 Renewable Energy...
CARBON INVESTOR EDUCATION

What are the Effects of Methane Emissions and Why Should We Care?

What are the effects of methane emissions? That’s the multi-million dollar question in the world’s battle over global warming as methane was often overlooked...

Carbon Credits and the Future of Sustainable Business: Exploring Best Practices

The trading of carbon credits can help entities and the world meet their climate goals by cutting carbon emissions and practicing sustainable business. While...

Revolutionizing Textile Recycling with HTC

A Virginia-based startup, Circ, has developed a unique hydrothermal processing technology for recycling blended textiles, like polyester-cotton blends. With fast fashion's emissions and environmental...

Carbon Credits and the Sustainable Development Goals: Aligning Climate Action with Global Priorities

Carbon credits from climate actions represent a crucial part of a strategy to mitigate climate change while supporting the global priorities on advancing sustainable...