Report Climate Lobbying Alignment | Interfaith Center on Corporate Responsibility

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<h4>Resolution Details</h4>
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<strong>Company:</strong>
<p>Chubb Limited</p>
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<strong>Year:</strong>
<p>2026 </p>
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<strong>Issue Area:</strong>
<p>Climate Change, Environment </p>
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<strong>Focus Area:</strong>
<p>Climate Change </p>
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<strong>Status:</strong>
<p>Filed</p>
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<h2>Resolution Text</h2>
<p>WHEREAS: Climate change exposes insurance companies to significant enterprise risks. In the first half of 2025, global insured losses from natural catastrophes were 40% higher than in the first half of 2024 and over double the 21st-century average.1<br><br>To stay profitable in the face of increasing losses, insurers are raising premiums and reducing coverage.2 A 2024 Senate Budget Committee Report predicts a collapse in property values with the potential to trigger a full-scale financial crisis.3<br><br>Chubb’s 10-K acknowledges that climate change poses “physical risks, transition risks and liability risks” that may adversely affect its operations and impact its risk modeling. It also states that “The increasing impact of climate change could affect our cost of claims, loss ratios, and financial results.”4<br><br>Chubb recognizes “its responsibility to support the transition to a low-carbon economy and to manage the risks associated with that transition” in its climate strategy.5 Chubb also notes its participation in “public engagement on climate issues with government officials, regulatory bodies, [and] climate advocacy groups” as a climate-related activity.<br><br>In 2024, Chubb spent $2,756,000 in lobbying expenditures.6 This included dues and lobbying allocations to the National Association of Mutual Insurance Companies, American Council of Life Insurers, Reinsurance Association of America, U.S. Chamber of Commerce, and the Institute of International Finance. These organizations have often lobbied against policies and regulations requesting climate-risk disclosures and transition planning that could help insurers and investors understand and be better protected against the financial consequences of climate change.<br><br>Although Chubb publishes a report listing trade association dues and lobbying allocations, current disclosures do not describe if and how Chubb identifies any misalignment between its climate strategy and its trade associations’ lobbying activities.<br><br>Regular examination of the alignment of lobbying activities with corporate public commitments and policies is an increasingly important indicator of strong corporate governance. Competitors, including Zurich Insurance, Munich Re, Aviva, and Swiss Re, either publicly describe how they align their policy engagement with their climate commitments, outline guiding principles for engagement, and/or detail their role and involvement with trade organizations.7</p>
<p>Thus, the proponent encourages Chubb to assess the alignment of its trade association activities with its climate strategy.<br><br>RESOLVED: Shareholders request that Chubb publish an annual report, at reasonable expense and omitting proprietary information, assessing whether and how Chubb is aligning its lobbying and policy influence activities and positions, both direct and indirect through trade associations, coalitions, alliances, and other organizations, with its climate strategy.<br><br>SUPPORTING STATEMENT: At the board’s discretion, the assessment may include the activities and positions analyzed and the criteria used to assess alignment.</p>
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<p>1 https://www.weforum.org/stories/2025/08/global-insurance-industry-gap/<br>2 https://www.nytimes.com/interactive/2024/12/18/climate/insurance-non-renewal-climate-crisis.html<br>3 https://www.budget.senate.gov/imo/media/doc/next_to_fall_the_climate-driven_insurance_crisis_is_here__and_getting_worse.pdf<br>4 https://s201.q4cdn.com/471466897/files/doc_financials/2024/ar/2024-Chubb-Limited-Annual-Report-Final.pdf, 26<br>5 https://s201.q4cdn.com/471466897/files/doc_financials/2024/ar/Chubb-2024-Sustainability-Report.pdf, 4<br>6 https://www.opensecrets.org/federal-lobbying/clients/summary?cycle=2024&id=D000023744<br>7 https://www.munichre.com/en/company/about-munich-re/lobbying.html; https://www.zurich.com/sustainability/strategy-and-reporting/policy-engagement; https://static.aviva.io/content/dam/aviva-corporate/documents/socialpurpose/pdfs/2024-transition-plan.pdf, 26; https://www.swissre.com/dam/jcr:b17dff9d-c026-46e6-b3f9-a0839fb5ed65/2024-sustainability-report-en.pdf, 107-108</p>

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<h3>Lead Filer</h3>
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<div class=”views-field views-field-nothing”><span class=”field-content”> Giovanna Eichner</span></div><div class=”views-field views-field-title views-field-field-shareholder”><span class=”field-content”>Green Century Capital Management, Inc.</span></div>
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