Climate / 2 years ago
European Insurers Pledge Net Zero While Covertly Fuelling US Coal Addiction

European insurers pledge 'net-zero' but covertly fuel US coal addiction, leaving climate activists bewildered by their dual morality.
Brussels, Belgium - In an unprecedented move that can only be termed as 'peak hypocrisy', several major European insurance companies have pledged to achieve 'net-zero' on their carbon emissions by 2050 while clandestinely feeding the United States’ notorious addiction to coal. The audacious dual morality play witnessed enthusiasts cheering on one hand, while climate activists are left facepalming at this remarkable performance of corporate greenwashing.
These Euro superstars, we'd rather not name them, because let's face it, when did naming and shaming ever change anything, have glibly pledged to divest from fossil fuels. Simultaneously, in a sublime performance of asset juggling, they are found covertly backing the creation of make-believe chimneys across the Atlantic, even as we speak.
An insider source on condition of anonymity reported, “It’s like a twisted Robin Hood act—stealing from the healthy environment to give to the ever-hungry industrial profiteers.” This report leaves us examining whether these insurance giants got their ideas from watching too many superhero movies where the villain always has an elaborate plot to destroy the world.
Ironically, while Europe has been riding the Green Deal bandwagon for a while now, these insurance companies seem to have mistaken the green in the deal for dollars rather than sustainable living. It appears that, in the mayhem of corporate decision-making, someone dropped the ball and overlooked the aspect of their investments being as ‘dirty’ as the coal they're backing.
In Europe, these insurers have been adorning the cloak of 'climate warriors', singing the praises of renewable energy. Meanwhile, they've been using the old way of doing business in the USA, hand-in-hand with coal corporations. They have been consciously or unconsciously echoing the sentiments quoted by the infamous Mad Men character, Don Draper “If you don't like what's being said, change the conversation." Who knew that insurance companies could harbor such impressive narrative-shifting abilities?
An expert from the International Panel on Climate Change, chuckling at this irony said, “The dual-faced approach is remarkable. On one side, they’re parading as climate saviors in Europe, while on the other, they’re playing best friends with one of the largest pollutant producers - coal companies in the United States."
While this controversy unfolds, we hold our breath for their next public relations spin. Perhaps they'll claim their coal investments are a grand experiment to capture and convert coal dust into fairy dust, thereby resolving climate change and paving the way to Neverland. For now, though, it surely feels like these insurance magnates are agreeing to play 'Captain Planet' by day and 'Lex Luther' by night. Stay tuned for more on this unfolding hypocrisy.
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Original title: Big European insurers ‘underwrite 30% of US coal despite net zero pledges’
exmplary article: https://www.theguardian.com/environment/2023/sep/28/big-european-insurers-us-coal-lloyds-of-london-zurich-swiss-re
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