Here's an example from @ewarren on why insurance matters: “If insurers stopped providing insurance for coal-fired power plants it would be nearly impossible to secure financing for new power plants.”
Here's hoping other candidates take a page from @ewarren and declare that “It’s time to hold insurance companies accountable for the risk they’re spreading through the financial system—and through vulnerable communities.”
@ewarren will “work with Congress to make large insurance companies doing business in the US disclose the size of the premiums they’re deriving from coal, oil & gas projects, associated infrastructure & companies.” That's important because you can't regulate what you don't know.
She'll also “investigate insurers who talk out of both sides of their mouth when they deny coverage to policyholders under the guise of too much climate risk, while simultaneously insuring fossil fuel projects.” @adunnphoto has the scoop on this: salon.com/2020/02/15/ins…
She'll “push the SEC to require insurance companies to show that they have evaluated climate-related risks in their underwriting processes and in their reserves." This is critical -- California under @CA_DaveJones pioneered this at the state level but it needs to be national.
She'll “reform the National Flood Insurance Program by making it easier for existing residents to move out of flood-prone properties...including a program to buy them back from low-income homeowners at market value” @jiejennyzou on why this matters: publicintegrity.org/environment/fl…
@jiejennyzou As @ewarren says “Winning a #GreenNewDeal and achieving 100% clean energy for our global economy...will be near impossible so long as large financial institutions are allowed to freely underwrite investments in dirty fossil fuels.” That's why we need to stopthemoneypipeline.com
