Growing number of global insurance firms divesting from fossil fuels

Report shows around 15bn of assets worldwide have been shifted away from coal companies in the past two years as concern over climate risk rises

A growing number of insurance companies increasingly affected by the consequences of climate change are selling holdings in coal companies and refusing to underwrite their operations.

About 15bn has been divested in the past two years, according to a new report that rates the world's leading insurers' efforts to distance themselves from the fossil fuel industry that is most responsible for carbon emissions.