Why is this important?

Every day 53 people in Europe die an early death because of coal pollution. [1] There’s still money to make from burning coal, and corporations willing to put profits over people and the planet.

One of them is Generali, Europe’s 3rd biggest insurance company. Millions of us trust them to insure our lives. But Generali also insures monstrous coal power plants spewing toxic dust all over Europe.

Imagine: with one hand they insure the health of a child who suffers from asthma. With the other, they help fund the coal pollution which makes him sick.

Right now one man - Generali’s CEO - is about to decide if the company pulls its significant support for coal. [2] He could save lives, or condemn us to toxic fumes for decades to come.

It’s a crucial moment: Generali are weighing their options and about to propose a long-overdue policy on coal. Their CEO - Phillippe Donnet - is the man to make the decision. Together we can ensure he makes the right one.

So much of Generali’s business depends on us, individuals and our families, buying their insurance. We have a real say in where the company goes in the years to come. If enough of us - their current and potential customers across Europe - demand they quit coal, they will see their profits are threatened.

Our pressure could be what tips the scales. If we don’t act, there’s a big risk that Generali goes for more business-as-usual and we’re stuck with decades more of dirty, polluting coal.

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Generali is one of Europe’s top insurance companies. They’re based in Italy, but do business all over Europe - chances are they also have a local office in your city. [3] They might even insure your home, your kid’s health or your elderly parent’s life. [4] But they also invest billions in the fossil industry, and insure coal projects such as mines and coal-burning plants.

But there’s hope for change: it’s happened before. Just weeks ago world’s biggest insurance firm, Axa, pulled billions from coal and gave us and the whole industry a best example to follow. [5]

“As the father of two children, I really want to do the most I can with the company I am leading to not get into a 4C [warmer, unstable] world.” said Thomas Buberl, the CEO of Axa Insurance as he announced his company’s plan to divest from fossil fuels. [6]

It’s time Philippe Donnet, the CEO of Generali, spoke similarly historic words of his own, and there’s a chance that with enough pressure, he might. Generali is the only insurance company this size who hasn’t made any moves to quit coal yet. We need to pressure them to put our health and the future of our planet above their profits.

Thanks to the determination of movements all over the world, coal’s lifeline - money - is vanishing. Companies, banks, pension funds, even cities like New York are pulling out. This is known as divestment - ending coal by starving it of financial support. [7] Coal is becoming the past. You and I can be part of that change.

Generali is a corporation with millions in coal-related assets. [8] But a much bigger chunk of Generali’s profits depends on people like you and me insuring our homes and our health. We're a European community of nearly a million people. Many of us, or our loved ones, are Generali’s current or potential customers. We’re perfectly placed to pressure them from many different directions. All it takes is all of us acting together.

Let’s make coal risky: if it means losing customers all over Europe, Generali could get the push they need to quit coal.

References

[1] Europe Beyond Coal: https://beyond-coal.eu/data/

[2] Insurers Talk A Lot About Climate Change, But Most Still Do Business In Coal: http://bit.ly/2nRdsZ9

[3] Map of some of Generali’s key offices in Europe: http://bit.ly/2BLx0re

[4] Generali boosted by life insurance business: https://www.ft.com/content/24003816-7782-11e7-90c0-90a9d1bc9691

[5] AXA sets the bar for fossil fuel divestment: https://unfriendcoal.com/2017/12/13/axa-sets-bar-fossil-fuel-divestment/

[6] Insurance giant Axa dumps investments in tar sands pipelines

https://www.theguardian.com/environment/2017/dec/12/insurance-giant-axa-dumps-investments-tar-sands-pipelines

[7] New York City plans to divest $5bn from fossil fuels and sue oil companies

http://bit.ly/2EuYXk9

[8] Dirty business: insurance companies supporting the growth of Polish coal: https://unfriendcoal.com/dirty-business/

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