Chubb will also stop underwriting or making new debt or equity investments in companies that derive more than 30% of their revenue from coal-mining or energy production from coal. (Photo: Shutterstock) Chubb will also stop underwriting or making new debt or equity investments in companies that derive more than 30% of their revenue from coal-mining or energy production from coal. (Photo: Shutterstock)

Chubb said it will stop underwriting the construction or operation of new coal-fired plants to fight climate change.

The insurer will also stop underwriting or making new debt or equity investments in companies that derive more than 30% of their revenue from coal-mining or energy production from coal, it said in a statement Monday. Insurance coverage for firms that exceed that threshold will be phased out by 2022, Zurich-based Chubb said.

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