AXIS has also included thermal coal developers within the scope of the new policy. The policy continues to include provisions in support of renewable energy projects and companies that are transitioning their business models away from thermal coal and oil sands, AXIS said. The new measures are in addition to previously announced restrictions on activities in the Arctic National Wildlife Refuge.
AXIS has also announced that it will invest $20 million in BlackRock’s Climate Finance Partnership, a fund focused on climate-infrastructure investments in emerging markets.
“It is our belief at AXIS that the reinsurance industry needs to move to the