Climate activists rallied outside the Travelers Championship tournament in Cromwell, Connecticut, on June 22, 2022, to protest Travelers Insurance’s underwriting of fossil fuels. The demonstration, organized by Connecticut Citizen Action Group, Sierra Club Connecticut, and the Insure Our Future Coalition, aimed to pressure Travelers to stop insuring and investing in the fossil fuel industry.
Approximately 50 activists marched alongside the TPC River Highlands golf course, holding banners and signs with slogans like “Travelers underwrites climate change!” Hartford’s Proud Drill Drum and Dance Corp accompanied the protesters, adding a vibrant element to the demonstration.
Travelers Insurance is among the top three insurers of the oil and gas industry but has not adopted formal policies to limit support for oil and gas projects or companies (excluding tar sands). This lack of action has drawn criticism from environmental groups and investors alike.
Ann Gadwah, an organizer with Sierra Club Connecticut, stated: “Travelers is one of the largest oil and gas insurers in the world and has over $3.5 billion invested in fossil fuel companies. The Travelers must catch up with other leading insurers and make meaningful commitments to end underwriting and investing in climate-destroying fossil fuel projects and companies.”
Tom Swan, Executive Director of CCAG, added: “The voices and energy of the young people here today are a stark reminder that Travelers needs to act boldly and quickly and cease enabling further climate destruction. There is not time to lose and no justification for continued investment and insuring fossil fuels… We call on Travelers to act now – for these youth and for all of us.”
Last May, Travelers faced investor pressure with two climate resolutions on the ballot at its annual general meeting (AGM). One of these resolutions passed, signaling growing concern among shareholders about the company’s climate policies.
While Travelers lags behind, several major insurers have implemented policies restricting insurance for new oil and gas projects. Thirteen insurers have also adopted restrictions on insuring oil and gas drilling in the Arctic National Wildlife Refuge. Travelers’ inaction regarding Arctic oil and gas has particularly drawn scrutiny from Indigenous leaders.
Bernadette Demientieff, Executive Director of the Gwich’in Steering Committee, commented: “Travelers continues to dismiss the voice of the Gwich’in people of the Arctic… They are contributing to the pain and stress our communities are experiencing.”
U.S. property and casualty insurers, including Travelers, are behind their global peers in reducing emissions and curbing underwriting for fossil fuels. This undermines global efforts to address the climate crisis. Given the U.S. industry’s significant role in oil and gas underwriting, its actions are crucial to tackling the climate crisis.
This protest marks the third consecutive year that activists have demonstrated outside the Travelers Championship tournament.
In conclusion, the rally at the Travelers Championship highlights the growing pressure on Travelers Insurance to address its role in the climate crisis. Activists and investors are urging the company to align its policies with climate science and end its support for the fossil fuel industry. The pressure on Travelers and other U.S. insurers is likely to continue until they take meaningful action to reduce their climate impact.
