Spain's Mapfre to cut back on hydrocarbon investments
Spanish insurance firm Mapfre said on March 11 it will not insure or invest in coal, gas and oil companies unless they have energy transition plans in place that limit global warming to around 1.5oC.
The commitment follows similar moves by other insurance firms, including France's AXA and Hannover Re. According to Reuters, Mapfre's existing insurance contracts will not be affected by the extra criteria.
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The companies that Mapfre insures include Mexico's state oil company Pemex.