The Hartford to quit tar-sands investments ahead of schedule. The insurer also says it will spend $2.5 billion over 5 years to promote carbon-free energy. [Hartford Courant]
The insurance and financial services giant, detailing updated environmental policies on several fronts, also said it does not expect to exit coal investment holdings earlier than the end of 2023 as previously announced.
It’s joining scores of financial institutions with assets under management or loans outstanding larger than
The
And it will join other companies as a signatory to the United Nations Global Compact, a corporate initiative to promote sustainable energy.
“As a 211-year-old insurer and asset manager, we view the transition to a greener society as a business imperative, and we are doing our part,” Chief Executive Officer
Canadian tar sands — a mixture of sand, water, clay and a type of oil called bitumen — have taken a hit with the decision by President
The
The
But it said its policy had some loopholes and urged The
Activists also called on The
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