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Closed For Good

Extinction Rebellion is running the #ClosedForGood Campaign, demanding the fossil fuel industry, and the governments and financial institutions that enable them, to Close for Good as the global economy recovers from the coronavirus. We need a rapid global transition away from fossil fuels to renewable energy and ecological sustainability if we are to avoid climate and ecological catastrophe, and the resulting social collapse.

Fossil fuel projects don’t just need governmental approval - they also need insurance and money. Behind every fossil fuel project lies a private bank and insurance company that is insuring and financing the destruction of Earth.

In the world of insurance, Liberty Mutual is the #1 worst insurer, and also a top funder, of fossil fuel projects.

Liberty Mutual

The job of insurance companies is to protect individuals and communities from catastrophic risks, but when it comes to the climate and ecological crisis, insurance companies are worsening the crisis by insuring and funding fossil fuel projects. Liberty Mutual is the worst offender.

Energy companies rely on insurance companies to build and operate their fossil fuel infrastructure, including coal-fired plants, oil drilling, natural gas compressor stations, and pipelines. Insurance companies are investing their customer's premiums into these dangerous fossil fuel projects, often without the customer knowing. The 40 largest U.S. insurers hold over $450B in coal, oil, natural gas, and electric utility stocks and bonds.

Even though insurers were among the first to warn about the risk of runaway global heating, they continue to fund the very industry that created and continues to perpetuate the crisis. Their support of fossil fuels is unconscionable.

Recently, the hypocrisy of insurance companies in the states has become more dire. Wildfires, hurricanes, and floods are becoming stronger and more dangerous to human life and property. These increasingly extreme weather events are the result of global heating caused from the excessive burning of fossil fuels. Insurance companies are raising premiums and restricting coverage in areas prone to these major weather events. All the while, they continue to provide coverage for and invest billions into the fossil fuel projects that create runaway global heating.