From the Guardian:

“The number of insurers withdrawing cover for coal projects more than doubled this year and for the first time US companies have taken action, leaving Lloyd’s of London and Asian insurers as the “last resort” for fossil fuels, according to a new report”.

More precisely:

“At least 35 insurers with combined assets of $8.9tn, equivalent to 37% of the insurance industry’s global assets, have begun pulling out of coal investments”.

Aspirational thinking:

“Peter Bosshard, one of the Unfriend Coal campaign co-ordinators, said: “We hope within two to three years it will be so difficult to obtain insurance that most coal projects won’t be able to go forward”.

Peter has a way with words:

“We’ve seen the acceleration [in firms pulling out of coal] for a good reason – people are freaking out.”

Yep.

Meanwhile, Australia is still going ahead with its new coal mine.

And still burning.

Two million hectares scarred by fire so far, including 20% of the Blue Mountains world heritage area.

Talk about having your head in the tar sands.

[Coal mine photo credit: Dominik Vanyi/Unsplash]