"It's certainly a sign that the pressure on the insurance companies is working," said Elana Sulakshana, with the Rainforest Action Network, an environmental organization based in San Francisco. 1:26Sulakshana spends the majority of her time finding ways to try to stop insurance companies from supporting the fossil fuel industry, because burning fossil fuels is a major contributor to climate change. Only in the last 12 to 24 months have environmental activists decided to put much more emphasis on the role of banks and insurance companies, said Sulakshana. WATCH | Why many insurers no longer want to support the oilsands:Why some Canadian oilsands companies are now looking to China for insurance coverage CBC News Calgary 0:47 Insurance costs keep climbing, says Joe Seeger, who works with oilsands companies to secure coverage for their facilities. Some oilsands companies have supported carbon pricing policy for several years.

Source: CBC News May 21, 2021 07:52 UTC