Chubb to require emissions reductions of oil and gas producers
Updated: Jun 20
Swiss insurance giant Chubb Ltd. said it will stop writing insurance policies for oil and gas extraction projects that do not have "evidence-based" methane reduction plans, increasing pressure on fossil fuel companies to participate in the fight against climate change.
Chubb, said it would help clients develop such reduction plans.
The plans would require, at a minimum, programs for leak detection and repair, the adoption of proven measures to reduce flaring, and an end to nonemergency venting of wells.