AIG | Occupy World Writes

“Organizing works,” said one advocacy group. “Now, all insurers must stop supporting fossil fuel expansion.”

By Kenny Stancil. Published 3-1-2022 by Common Dreams

Insure Our Future Coalition at AIG’s NYC Headquarters on 12/7/2021. Photo: Insure Our Future, PDM-owner, via Wikimedia Commons

Climate justice advocates celebrated Tuesday in response to insurance giant AIG’s announcement that it will no longer invest in or provide insurance coverage for any new Arctic drilling activities nor will it finance or underwrite the construction of any new coal-fired power plants, thermal coal mines, or tar sands projects, effective immediately.

AIG also said that it will immediately stop investing in or underwriting “new operation insurance risks” of coal-fired power plants, thermal coal mines, or tar sands projects owned by corporations that derive 30% or more of their revenue from those industries or generate over 30% of their energy production from coal. Continue reading →

“We cannot afford to allow the interests of private corporations to supersede the needs of the American people and the long-term stability of our economy.”

By Jake Johnson, staff writer for Common Dreams. Published 5-11-2020

BlackRock CEO Larry Fink. Screenshot: CNBC

BlackRock, the largest asset management firm on the planet, has for years faced criticism and protests from progressives over its massive investments in fossil fuels, private prisons, and the arms industry—and now the financial behemoth is set to take on a leading role in the Federal Reserve’s sprawling coronavirus bailout program.

The Wall Street Journal reported Sunday that BlackRock—which manages over $7 trillion in assets—will in the coming days help the central bank funnel “money into both new and already-issued corporate bonds, assisting the Fed in its recently adopted role as lender of last resort for businesses.” Continue reading →

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