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

Twelve Transforms Carbon into Sunglasses, Car Parts, and Fuel

As firms around the world are tackling climate change, Twelve is offering a solution through its carbon transformation tech which turns CO2 into products...

Crypto Carbon Credits Exchange 1GCX Closes $2B Record Deal

Crypto carbon credits exchange 1GCX partnered with T3 Trading, raising $2 billion in assets under management (AUM) and setting up a $100 million liquidity...

Ethereum’s Stealth Move to Wipe Out Its Carbon Footprint

Ethereum won the spotlight with the Merge, which cut the crypto’s energy use and carbon footprint more than expected by 99.99%. The second-largest cryptocurrency -...

Iron and Steel Industry Will Buy $250B Carbon Credits for Net Zero

Bringing the iron and steel industry to net zero by 2050 requires $1.4 trillion of investment, $250 billion of which is for carbon credits,...
CARBON INVESTOR EDUCATION

ESG Investing with Carbon Credits – What Investors Need To Know

Reducing carbon emissions is evident as firms focus on ESG investing and governments account for climate impact through carbon credits.

The 5 Top Carbon Offset Project Developers

Are you looking to directly reduce your carbon footprint or support projects that cut emissions elsewhere? Then carbon credits allow you to do either...

The Top 3 Private Carbon Companies to Watch Right Now

Right now, the carbon space is heating up. Dozens of companies are jumping into what’s fast becoming one of the hottest spaces to invest...

Carbon Insetting: The Target of Scope 3 Carbon Offset Accounting

Carbon offsets are a well-known sustainability concept so you most likely have heard of them. But there’s a relatively new sustainable supply chain term...