Activists recently took to Boston's streets to protest Liberty Mutual's policies — policies that activists say fail to live up to the insurer's climate-friendly public rhetoric. In December 2019, Liberty Mutual announced that it will not insure new risks for companies with more than 25% exposure to coal; will phase out existing coverage to such companies by 2023; and will end new investments in companies that generate at least 25% of their revenue from coal mining or produce at least 25% of their power from coal. However, these policies leave the door open for the company to insure "hundreds of coal expansion projects" that experts say is fueling the climate crisis, according to Insure Our Future, a campaign comprised of environmental, consumer protection, and grassroots organizations. Liberty also is allegedly the sole owner of a proposed coal mine in Australia. "As our climate crisis worsens by the day, every industry must be held accountable for its role in perpetuating this crisis and take the urgent action necessary to address it. Liberty Mutual's empty promises and half measures are simply unacceptable. By continuing to insure major fossil fuel projects and carbon polluters, Liberty Mutual is complicit in the environmental injustice and harm affecting frontline communities from Chelsea to Chinatown here in the Massachusetts 7th, and Indigenous communities across the globe," said Congresswoman Ayanna Pressley (D-Mass.) in a statement.

'Silent on oil and gas'

A new analysis released by the Rainforest Action Network (RAN) says that despite Liberty appointing a Chief Sustainability Officer and ESG team, its efforts far short of meaningful action to address climate change. RAN also found that Liberty's policies are silent on oil and gas, enabling it to provide coverage for the expansion of the tar sands pipeline system in North America. At present, Liberty is providing a $15.6 million bond to cover the pre-construction of Keystone XL through South Dakota. A second bond is expected for primary construction, says the Indigenous Environment Network. Liberty also offers insurance policies for the Trans Mountain pipeline, which lost coverage from German insurer Talanx in July when it dropped the oil sands project's coverage. However, at the time, the pipeline's Certificate of Insurance continued to list 11 companies that collectively provided $508 million in liability coverage.

Protestors take a stand

In an Oct. 2 protest outside Liberty Mutual's Boston headquarters, demonstrators denounced Liberty's role in projects that threaten climate stability and violate Indigenous rights while calling on the insurer to meet with Indigenous leaders to discuss concerns. Protestors also built a mock pipeline outside the office, covered in red handprints to represent missing and murdered Indigenous women, an epidemic that activists say is directly linked to the expansion of fossil fuel extraction on Indigenous lands. A press release from Insure Our Future noted that Liberty has no systems nor policies that ensure projects receive consent from and are respectful to Indigenous Peoples and local communities. "It's time for Liberty to start listening to Indigenous Peoples, to climate scientists, and to citizens that are raising their voices and demanding that they stop insuring fossil fuels and instead insure our collective futures," Elana Sulakshana, energy finance campaigner at RAN, said in a release. "A rapidly growing movement is calling on Liberty Mutual to stop insuring all new fossil fuel projects and phase out coverage for coal, oil, and gas companies in  line with a safe climate pathway." Related: 

• Insurance industry can find economic opportunity in climate change
• Why the insurance industry must stop supporting fossil fuels
• Insurers, financial institutions face a $1 trillion climate risk