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Australian insurer Suncorp to stop underwriting new coal mines, coal-fired generation

first_img FacebookTwitterLinkedInEmailPrint分享The Guardian:Australian insurance giant Suncorp will no longer insure new thermal coal mines and power plants, and will not underwrite any existing thermal coal projects after 2025.This is the latest in a series of pledges by banks and financial services companies that they will not support projects that mine or burn coal used for electricity generation, in line with the goals of the 2015 Paris climate agreement. Activists said Suncorp’s announcement meant there were now no Australian insurers willing to underwrite new thermal coal developments.Suncorp, which owns insurance brands AAMI and GIO, made headlines in February when it announced its half-year profit had slumped 45%, mainly because of extreme weather events in Sydney and Queensland. Its then chief executive, Michael Cameron, called on the government to make it compulsory for Australian businesses to adopt climate change action plans to prepare for natural disasters.In a statement on Friday, the $17bn company said climate change posed a financial and strategic risk but was also an opportunity. It said it had applied a shadow carbon price, assuming greenhouse gas emissions have a cost, to its investment decisions since 2017 and had recently expanded that across all its operations.“The practical outcome of this is that we have materially reduced our investment in fossil fuels, including thermal coal,” an official said. “We will seek to increase exposure to businesses that have a positive environmental impact, including renewable energy generation and technology.”Suncorp’s competitor QBE said in March it would no longer insure new thermal coal projects and would stop underwriting existing operations from 2030.More: Insurance giant Suncorp says it will no longer cover new thermal coal projects Australian insurer Suncorp to stop underwriting new coal mines, coal-fired generationlast_img read more

Kiwis battle to stumps after Proteas bowled out for 314

first_img(REUTERS)-Tom Latham and Jeet Raval weathered an intense examination for over 25 overs to guide New Zealand to 67 without loss at the close of the rain-affected second day of the third Test against South Africa at Seddon Park in Hamilton on Sunday.Latham was 42 not out, while Raval was on 25 when bad light forced the players off with 3.3 overs of play remaining.South Africa had been dismissed for 314 about 30 minutes after tea following an almost two-hour rain delay that washed out virtually all of the middle session.Quinton de Kock had again proved his value to South Africa’s lineup with his ability to score quickly and marshall the lower order as they scored 124 runs for the final four wickets.The wicketkeeper top-scored with 90, falling short of a century for his second successive innings after he made 91 in the second test in Wellington.He had hit 11 fours and two sixes in his 118-ball stay before left-armer Neil Wagner got a ball to swing in and then straighten off the pitch and trap him in front. De Kock failed to overturn the leg before decision on review.Kagiso Rabada was the last man out as he scored a career-best 34 with six boundaries a six.Prior to the rearguard action, New Zealand had been well-placed to dismiss the visitors for not much more than 200 when they managed to remove the overnight pair of Temba Bavuma for 29 and Faf du Plessis for 53 that left South Africa at 190 for six.Bavuma had attempted to hook a slow, short Matt Henry delivery and only succeeded in getting a nick to first slip Raval, while Du Plessis fell to a brilliant catch by Latham just after reaching his 12th Test half century.The skipper set himself for a lap sweep against left arm-spinner Mitchell Santner but Latham, fielding at forward short leg, moved swiftly to his right and plucked the ball out of the air.Henry finished with career-best figures of 4-93.South Africa hold a 1-0 lead in the three-match series having won the second game in Wellington by eight wickets.The first Test in Dunedin ended in a draw with the entire final day washed out SOUTH AFRICA 1st innings (Overnight: 123-4)D. Elgar b de Grandhomme 5T. de Bruyn c Latham b Henry 0H. Amla b de Grandhomme 50J. Duminy c Patel b Henry 20F. du Plessis c Latham b Santner 53T. Bavuma c Raval b Henry 29Q. de Kock lbw b Wagner 90V. Philander c Latham b Henry 11K. Maharaj c Watling b Wagner 9K. Rabada c Watling b Wagner 34M. Morkel not out 9Extras (lb-1 w-3) 4Total (all out, 89.2 overs) 314Fall of wickets: 1-5 T. de Bruyn,2-5 D. Elgar,3-64 J. Duminy,4-97 H. Amla,5-148 T. Bavuma,6-190 F. du Plessis,7-219 V. Philander,8-249 K. Maharaj,9-295 Q. de Kock,10-314 K. RabadaBowling: M. Henry 24 – 2 – 93 – 4(w-2),C. de Grandhomme 24 – 4 – 62 – 2,N. Wagner 25.2 – 2 – 104 – 3(w-1), J. Patel 7 – 0 – 30 – 0,M. Santner 9 – 3 – 24 – 1.NEW ZEALAND 1st inningsT. Latham not out 42J. Raval not out 25Extras 0Total (for no loss, 25.3 overs) 67Fall of wickets:To bat: K. Williamson, N. Broom, H. Nicholls, B. Watling, M. Santner, C. de Grandhomme, J. Patel, M. Henry, N. WagnerBowling: V. Philander 8 – 2 – 15 – 0,M. Morkel 7 – 2 – 13 – 0K. Rabada 5 – 1 – 25 – 0, K. Maharaj 5.3 – 0 – 14 – 0.last_img read more