Chubb announces new climate and conservation-focused underwriting standards for oil and gas extraction

Insurance coverage to be contingent on client adoption of evidence-based plans to reduce methane emissions chubb will not underwrite oil and gas extraction projects in government-protected conservation areas that do not allow sustainable use zurich , march 22, 2023 /prnewswire/ -- chubb limited (nyse: cb) today announced new underwriting criteria for oil and gas extraction projects that will require clients to reduce methane emissions, a byproduct of oil and gas production that are among the most severe greenhouse gases. chubb also announced that it will not provide insurance coverage for oil and gas projects in government-protected conservation areas in the world database on protected areas that do not allow for sustainable use.
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