AIA, THE WORLD’S BIGGEST LIFE INSURANCE COMPANY, PROMISES TO “HELP PEOPLE LIVE HEALTHIER, LONGER, BETTER LIVES.”
(Source: AIA, 2018)
THERE’S ONE BIG PROBLEM: AIA INVESTS BILLIONS IN COAL – THE OPPOSITE OF PROMOTING HEALTHY, LONGER, BETTER LIVES.
AIA, Kick Out Coal!
AIA HOLDS A MASSIVE US $6 BILLION IN COAL INVESTMENTS.
THIS IS AIA’S DIRTY LITTLE SECRET.
AIA has invested approximately $6 billion into the coal sector — that’s over $100 for every policy holder and group member of a policy.
These investments include bonds and equities of coal power utilities, and loans for specific coal projects.
© 123rf.com 2020
© 123rf.com 2020
Tenaga Berhad coal-fired power plant in Malaysia. (Source: Power Engineering International)
AIA currently owns approximately US $125 million in shares of Tenaga Nasional Berhad, Malaysia’s power utility. Tenaga operates more than 26,000 megawatt of power plants in Malaysia and other countries, 54% of which consist of coal power capacity.
Tenaga Berhad coal-fired power plant in Malaysia. (Source: Power Engineering International)
Dollar for dollar, AIA’s investments emit almost 50% more carbon than climate leaders.
© 123rf.com 2020
© 123rf.com 2020
AIA’s support for coal is…
1
Polluting the planet
From mining to transporting, processing and burning coal, every stage of the coal cycle is highly polluting.
2
Harming our health
The pollution from mining and burning coal increases the risk of lung cancer, stroke, heart disease, infections such as COVID-19 and chronic respiratory diseases like asthma.
3
Fuelling climate change
With ever more serious heatwaves, droughts, floods and typhoons, climate change severely threatens ecosystems, livelihoods and public health throughout Asia and the Pacific.
Oliver Bäte, CEO, Allianz © 2019 Getty Images.
What are other insurers doing?
At least 65 insurers have so far divested from their assets from the coal industry. Among the international insurance companies which have joined the CA100+ investor initiative, all insurers other than AIA have divested from the coal industry or have at least adopted some restrictions on new coal investments.
(Source: Insure Our Future campaign, Insuring Fossil Fuels No More, 2020 Scorecard on Insurance, Fossil Fuels and Climate Change)
“If we are not leading the charge on climate change, who would?”
Oliver Bäte, CEO, Allianz © 2019 Getty Images.
End it like Beckham
David Beckham, AIA’s global brand ambassador, at the AIA Vitality Healthy Living Tour on September 22, 2017, Kuala Lumpur Malaysia.
David Beckham at the AIA Vitality Healthy Living Tour on September 22, 2017, Kuala Lumpur Malaysia.
Since 2013 AIA has had a global presence as the shirt sponsor of premier league football club, Tottenham Hotspur.
Spurs have expressed support for climate action for more than 10 years. In October 2020, the football club was a founding member of the ‘Count Us In’ climate campaign.
AIA’s coal investments contradict the climate commitments of its favourite football club.
AIA has already divested from tobacco and cluster ammunition. It now needs to divest all its assets – shares, bonds and loans – from all coal companies.
#AIAKickOutCoal in the News
Campaign win! AIA Insurance listened to our demands and will fully divest from coal! View the press release here.
Insure Our Future, 17 March 2021
Can the Premier League's greenest club find a sponsor which shares its green credentials?
Insure Our Future, 25 January 2021
AIA coal investments undermine pledges to support climate action
Insure Our Future, 23 Nov 2020
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