Stopping our insurance companies from investing in and insuring coal (interview with peter bosshard of unfriend coal)
Peter Bosshard (@peterbosshard) is the campaign coordinator of the Unfriend Coal campaign (@unfriendcoal), which is a global coalition of NGOs and social movements pressuring insurance companies to get out of the coal business and support the transition to clean energy.
Peter is also the Finance Program Director of Sunrise Project (@sunriseoz), an organization with a mission to scale social movements that will drive the transition from fossil fuels to renewable energy as fast as possible.
In this podcast episode, Peter sheds light on how our financial institutions and insurance companies have been covertly shaping market trends and enabling the continued expansion of the fossil fuel industry; how we can get our insurance companies to divest from and stop insuring coal plants and fossil fuel operations; and more.
To start, get a glimpse below into the conversation between Peter and Green Dreamer Podcast's host, Kamea Chayne.
“Even with the best arguments and the best of science, these governments will still continue to license coal and other fossil fuel projects. And so, in such cases, it’s been very effective to follow the money.”
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This is a conversation on Green Dreamer with Kamea Chayne, a podcast and multimedia journal illuminating our paths towards ecological balance, intersectional sustainability, and true abundance and wellness for all. This preview has been edited for clarity. Subscribe to Green Dreamer Podcast on iTunes, Spotify, Stitcher, or any podcast app to stay informed and updated on our latest episodes.
On what led Peter to his work in green finance:
“Being in nature has always been part of who I am. And I guess I have a rebellious side, so when I saw that the things that I valued most were being threatened for short-sighted profit and greed, that's when I became an activist.
Then coming of age in Switzerland, I was soon faced with the powerful role of banks and the financial institutions play in the destruction of nature.
So, I decided to take that on and to play a role in helping to overcome that.”
On how financial institutions influence climate action:
“In many countries, groups will try to influence their governments to shift away from coal and other fossil fuels to clean energy sources. But unfortunately, we see that many governments are pretty much in the pockets of the fossil fuel industry.
I think that's fair to say currently in the United States. And it's also the case in important coal countries like Australia. Even with the best arguments and the best of science, these governments will still continue to license coal and other fossil fuel projects. And so, in such cases, it's been very effective to follow the money.”
On how employees of insurance companies can influence change:
“Many (maybe most) insurance employees have a lot of sympathy with us and support our demands and concerns. They identify as the ‘good side’ of the climate debate.
They often thought their employers were contributing to climate solutions and when they find out that [their companies are] still also insuring fossil fuel projects, many of them get upset.
We have seen petitions from employees of several large insurance companies and that can be a driving force for change.”
Final words of wisdom:
"Thank you for all the contributions that you're making already.
Often, we're faced with a lot of pressure and maybe even despair. I would encourage all of us to find inspiration in what we do, to have fun, and to enjoy the camaraderie in working together with other people to change the world.”
