Fossil fuel companies made up 4.4% of the insurance industry’s investment portfolio in 2023, up from 3.8% nine years earlier. Berkshire Hathaway and State Farm, increased their fossil fuel positions by around $200 billion in that period. More than half of the country’s 238 property and casualty insurers recently surveyed have reduced their investments in oil, gas, and coal over the past decade. Nonetheless, U.S. companies do continue to write policies for conventional oil and gas projects.
yaleclimateconnections.org/2025/01/how-big-insurances-investment-in-fossil-fuels-came-back-to-bite-it/?utm_source=Weekly+News+from+Yale+Climate+Connections&utm_campaign=19373f4aca-EMAIL_CAMPAIGN_2025_02_06_08_09&utm_medium=email&utm_term=0_-19373f4aca-59410072