RECOMMENDATIONS FOR (RE)INSURERS 2025

The report outlines a comprehensive framework for (re)insurers to decarbonize their business models. It advocates for the adoption of Net Zero Transition Plans (NZTP) based on 1.5°C scenarios and establishes specific restrictions for the coal, oil and gas, and power sectors. Key demands include the immediate cessation of support for fossil fuel expansion, the implementation of time-bound phase-out dates for unsustainable power and hydrocarbons, and the use of rigorous engagement and voting policies to hold portfolio companies accountable.

• Reclaim Finance recommends a five-step process for (re)insurers to develop robust climate transition plans: establishing decarbonization targets, defining a decarbonization strategy, creating public and private engagement strategies, implementing reporting and governance, and integrating just transition and biodiversity considerations.
• For the coal sector, (re)insurers are urged to immediately stop covering and investing in clients participating in thermal coal expansion and to commit to a global thermal coal phase-out by 2040, with an earlier deadline of 2030 for Europe and OECD countries.
• Regarding the oil and gas sector, the document recommends a total phase-out of upstream and midstream activities by 2050 in both underwriting and investment portfolios, including an immediate halt to covering new upstream and midstream projects and LNG terminals.
• In the power sector, (re)insurers should eliminate exposure to unsustainable power by 2030 for coal in OECD/European countries, by 2035 for gas in those same regions, and by 2040 for all unabated fossil fuel plants worldwide.
• The report advises (re)insurers to use specific databases for company assessment: the Global Coal Exit List (GCEL) and Metallurgical Coal Exit List (MCEL) for coal, and the Global Oil & Gas Exit List (GOGEL) for oil and gas.
• For steel decarbonization, (re)insurers are encouraged to stop covering and investing in companies developing new blast furnaces or relining existing ones after 2025 in the OECD and 2030 globally.
• The document proposes a rigorous engagement and voting framework where (re)insurers use a systematic escalation strategy, including voting against the re-election of directors and executive remuneration if companies fail to align with 1.5°C trajectories or respect transition milestones.
• For oil and gas companies, (re)insurers should vote against dividend payouts and share buybacks if the company invests less than 50% of its capital expenditures in sustainable energy by 2030.

APA

Reclaim Finance (2025). RECOMMENDATIONS FOR (RE)INSURERS 2025. https://reclaimfinance.org/site/wp-content/uploads/2025/11/0_All-recos-for-REINSURERS_2025_MAJ.docx.pdf

Chicago

Reclaim Finance. RECOMMENDATIONS FOR (RE)INSURERS 2025. 2025. https://reclaimfinance.org/site/wp-content/uploads/2025/11/0_All-recos-for-REINSURERS_2025_MAJ.docx.pdf.

Wikipedia

{{cite report |author=Reclaim Finance |title=RECOMMENDATIONS FOR (RE)INSURERS 2025 |date=2025 |url=https://reclaimfinance.org/site/wp-content/uploads/2025/11/0_All-recos-for-REINSURERS_2025_MAJ.docx.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{reclaimfinance2025recommendations, author = {{Reclaim Finance}}, title = {{RECOMMENDATIONS FOR (RE)INSURERS 2025}}, institution = {Reclaim Finance}, year = {2025}, url = {https://reclaimfinance.org/site/wp-content/uploads/2025/11/0_All-recos-for-REINSURERS_2025_MAJ.docx.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }