Keeling Curve

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Project Summary / Description:

1. Our purpose is to inspire the insurance industry to divest from carbon intensive investments and coverages by creating a market for sustainable insurers/insurance that is attractive for them to serve and a threat for them to ignore. We will also build products to deploy the behavioral leverage of insurance toward sustainability in new ways, to reward and drive the sustainable business practices of insureds. Given how influential insurance coverages can be on the behaviors of individuals and the operations of businesses, we know the purposing that influence for the planet instead of just insurer profits, can align risk and reward in ways that help us reverse the climate crisis. This project was formed on the foundation of our work in sustainable banking, where we sparked a movement alongside for-profit and non-profit partners that has shifted the banking relationships of many high profile brands, created broad brand and consumer awareness, spawned new banking products that contribute to climate non profits and drive the banking industry to adopt more sustainable practices. We learned from our banking success, identified a model and built it upon the foundation and relationships of our banking work, to address the same opportunity to build a movement for insurance. The second largest investor in fossil fuels on the planet, with additional influence on decisions about what activities are insured, the terms of insurance coverages and how claims are addressed ‚ all powerful levers for positive impact. Conceived in 2020, developed during 2021, launched early in 2022.

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3. Part of the larger goal of this project is to make it increasingly difficult for projects with highly negative environmental impacts to continue or proliferate. Many of these projects take place in locations where marginalized and impoverished communities reside ‚ for example, when you remove arctic drilling, you support health for indigenous populations and the habitats they depend upon. When we keep highly polluting industries from operating and proliferating, we disproportionately restore clean air and water for underrepresented populations where these projects most often locate. We also include the S and G components of building a market for ESG insurance ‚ ultimately favoring business with insurers that perform well in all three categories.

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