IOG (AIM: IOG) will be placed into administration as the troubled North Sea operator is overcome with debt and operational issues.
Insurers should move faster away from hydrocarbon coverage, Insure Our Future has said. The group has suggested insurers may also seek damages from large emitters.
Just as insurers have fled the coal industry, so are they coming under pressure to turn against oil and gas projects.
Warren Buffett, long under pressure from activists to detail how climate change affects his businesses, used part of his annual letter to shareholders to highlight how wind power generated by a Berkshire Hathaway Inc. utility shows the company is reducing its reliance on fossil fuels.