Campaigners say new standard allows firms to omit the largest chunk of greenhouse gases

Activists criticise insurance industry’s first attempt to measure carbon emissions

Insurers have been accused by activists of watering down the sector’s first attempt to quantify the climate impact of their underwriting portfolios.
Insurance and reinsurance plays a crucial role in the energy sector but companies that provide the cover for oilfields and mines have provided scant details of the emissions they are responsible for.
France’s Axa and Germany’s Allianz are among the insurers preparing to assess the carbon footprint of their underwriting business after the Partnership for Carbon Accounting Financials released standards for the industry in November.
This story originally appeared on: Financial Times - Author:Ian Smith