A consortium of 20 major U.S. investors, including state and local pension funds, have called on publicly traded insurers to more thoroughly assess and disclose their risks from global climate change.
The investors, including the Service Employees International Union, the California Public Employees Retirement System, the United Methodist Church and several state Treasurers, manage over $800 billion in combined invested assets.
In a letter to the chief executive officers of the top 30 publicly held insurance companies, the investors asked each company to undertake a "comprehensive analysis" of the implications of global climate change on their business and report the findings to their shareholders. The letter calls for the reports to be completed and shared with investors by August of 2006.
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