Delusional Donald is way off the
mark in his climate policies for this country. The Annual United Nations Climate
Conference ended on this past Saturday with 20 countries including the United
Kingdom, France and Mexico pledging to STOP using coal power completely by
2030. Trump still wants to OPEN more coal mines. Why is he so opposite in the
views of most of the world? Politicians
are not the only world leaders wanting to phase out the unsafe dirty cancer
causing fuel. Now insurance companies
are banding together to fight the existence of cancer polluting causing coal
usage.
Insurance companies are regarding
coal as bad investments and unhealthy clients. Soon hopefully all fossil fuels
will be phased out despite Trump and his oil buddy Rex Tillerson. Insurance is
crucial to public safety and it is good that the insurance industry is finally
recognizing that coal is a risk to everyone on many levels. The insurance
companies are so powerful that if they decide they do not want to give coverage
to an industry; they can ruin a company financially and the companies will
surely close. Leading insurance companies like AXA, Scor and Zurich Financial
Services have withdrawn $20 billion dollars in coal investments.
They have already stopped
insuring companies that have profits coming from coal related activities. Yes, the world and financial institutions are
realizing that Trump is a nut job and have begun to seriously ignore him. Insurance
companies are money making businesses like any other. They are not pulling out
of coal just because we can all die from it but also because it is a bad
investment. Sylvain Vanston the Head of Corporate Responsibility AXA Group
admitted that they no longer want to support the coal industry. Coal is a
property and casualty risk they no longer wish to underwrite for them. China
has already become the leader in solar and wind businesses and those industries
have far less risk to people and the environment. Why can’t Trump see that
solar and wind technology is a win, win?
Insurance companies are realizing
that climate change is here and the effects are hitting people in their
wallets. Too many homes have been lost to fires, floods and hurricanes or tornadoes.
The companies that have dropped coal represents only 13% of the world’s global
insurance assets but at least it is a trend that is sure to take on like a New
Year’s Resolution for the world. Sadly, none of that meager 13% are even based
in the United States. America used to be the new innovators of the world in all
industries. Not anymore and with close minded Trump at our helm we are sure to
sink or lag behind in climate safety and in new investments.
Why does Trump always make me
feel sad? I don’t think I’m alone in that sentiment. The insurance company big
shot is sad about American policies too. Sylvain said,” My American competitors
tend to view sustainability primarily as a philanthropy initiative. We need
America and they are not responding.” The top 40 American insurers have
invested more than $450 billion dollars in coal, oil and
gas production. Yes, America is knee deep stuck in the crappy energy and
probably can’t break loose anytime soon. But a President should be there to
promote better policies for this country. Trump likes to play in the murky oil,
coal and gas playground.
Now insurance companies are not
making profits because they are paying out money for so much destruction done
from extreme weather conditions destroying too many properties. Just the three
major hurricanes in America in this year is costing more than $100 million
dollars to insurance companies in payouts. It is in America’s best interest to
follow Europe in their new emerging policies and try to cut catastrophic costs
down. Does the Don even have a New Year’s Resolution? I doubt it. He thinks he
is perfect.
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