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      Poster featuring Liberty Mutual CEO Tim Sweeney

      Will New CEO Tim Sweeney Clean Up Liberty Mutual's Climate and Human Rights Record?

      Will the insurance giant's top executive continue to unlock the fossil fuel industry's plans to ramp up coal, oil, and gas extraction, or instead adopt policies to accelerate a just energy transition?

      Elana Sulakshana
      Jan 04, 2023

      You have likely never heard of him, but Tim Sweeney just became a critical decision maker when it comes to the fate of the fossil fuel industry's global expansion plans. As of January 1, 2023, Sweeney is the new CEO of Boston-based insurance giant Liberty Mutual, which is one of the biggest coal, oil, and gas insurers in the world.

      Without the policies that Liberty Mutual and other big insurers provide, new fossil fuel projects like offshore drilling rigs, liquefied natural gas (LNG) export terminals, and oil and gas pipelines, cannot be constructed. Liberty also invests $2.3 billion of its premiums – that’s the money it collects for car, home, and other insurance policies – into fossil fuel companies.

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      Opinion
      climate
      Demonstrators protest Chase and Wells Fargo's complicity in the climate emergency in Newark, New Jersey on April 21, 2022

      US Mega-Banks Behind 1/3 of Climate-Destroying Oil and Gas Expansion: Report

      "The outsized role of Wall Street in driving fossil fuel expansion globally is deeply alarming," said one expert.

      Brett Wilkins
      Nov 09, 2022

      Wednesday is Finance Day at COP27, the United Nations climate summit in Sharm El-Sheikh, Egypt, and the advocacy group Rainforest Action Network published a report exposing how major U.S. banks are financing hundreds of billions of dollars worth of fossil fuel projects--even as they tout their purported commitment to a low-carbon future.

      "Global banks' top fossil fuel clients amount to a rogues' gallery of bad actors."

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      News
      wall street
      Stop the Money Pipeline protest

      New 'Blame Wall Street' Campaign Launched as Climate Emergency Grips Planet

      "These companies could stop the flow of money to fossil fuels today, but they are choosing greed instead," said organizers with the Stop the Money Pipeline coalition.

      Julia Conley
      Sep 01, 2022

      Hundreds of organizations announced plans on Thursday to launch a mass mobilization this fall aimed at holding accountable those that allow destructive fossil fuel extraction to continue, specifically the Wall Street banks that have poured more than $1 trillion into oil and gas projects in recent years.

      The Stop the Money Pipeline coalition, which includes more than 200 climate action groups, called on people across the U.S. to join "Blame Wall Street" public actions that are already planned in New York, Los Angeles, San Francisco, and other cities where campaigners will "connect the dots between the extreme weather events harming communities and the corporations fueling the climate crisis."

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