Insurers in UK and US lagging behind in divesting from coal, report finds

European firms are making faster progress in refusing to insure polluting firms, says campaign group Unfriend Coal

UK and US insurers are lagging far behind European firms when it comes to divesting from coal-heavy businesses and refusing to insure them, campaigners have warned.

At least 19 major insurers holding more than $6tn in assets - a fifth of the industry's global assets - have now divested from coal, according to a report from the Unfriend Coal campaign, which represents a coalition of a dozen environmental groups including Greenpeace, 350.org and the Sierra Club.