Hartford Financial Services : Coal and Tar Sands Policy

The Hartford Coal and Tar Sands Policy

The Hartford recognizes the world needs affordable, accessible energy to support global economic progress and, at the same time, action is needed to mitigate the impact that energy demands have on our climate. Coal produces outsized greenhouse gas emissions in relation to the energy content it produces, contributing to extreme weather and air pollution, and we believe coal-based business models represent heightened insurance and investment risks as the global economy transitions to cleaner energy sources. As an insurer and asset manager, we are determined to responsibly use our resources and influence to help manage a non-disruptive transition to a lower carbon world. Consequently, The Hartford has adopted the following policy with respect to insuring and investing in coal and tar sands companies.

The company no longer insures or makes new investments in companies that generate more than 25 percent of their revenues from thermal coal mining or more than 25 percent of their energy production from coal. In addition, the company has stopped insuring and investing in companies that generate more than 25 percent of their revenues directly from the extraction of oil from tar sands.

The policy parameters are found below:

• No new underwriting of or investments in the construction and operation of new coal-fired plants;
• No new underwriting of or investments in companies that generate more than 25 percent of their revenues from thermal coal mining or more than 25 percent of their energy production from coal;
• No new underwriting of or investments in companies that generate more than 25 percent of their revenues directly from the extraction of oil from tar sands;
• As of December 31, 2023, The Hartford has exited all insurance relationships and investments in publicly traded securities in companies that exceed coal and tar sands related policy thresholds.

This policy provides exceptions for business lines that provide protection for people such as workers compensation or disability, life and other voluntary products offered by our Group Benefits division.

Updated Feb 2024