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The French insurance company AXA has denied a bid by the German energy utility RWE to remain its customer.[1] AXA announced the full exclusion of services for the German energy utility RWE by the end of next year.

Sebastian Roetters, Energy Campaigner at the Environmental Nonprofit Group Urgewald, said: "AXA has taken a consistent stance on RWE’s climate-wrecking activities that other financial institutions should follow.

• Revealed: Leading insurers backing fossil gas infrastructure in Europe
• Emissions data underlines harmful impacts of key LNG projects around the world
• Questionable economic situation as LNG is in a state of oversupply

• US investors hold 58% of institutional investments in the coal industry
• Commercial banks providing more money to the coal industry than in 2016
• Japanese banks are top lenders, Chinese banks top underwriters

• Company disregards due diligence on human rights, clings to fossils
• International legal concerns: Norway’s largest private asset manager excludes Siemens Energy
• Gas turbines for LNG-Project in conflict area in Mozambique

• Company disregards due diligence on human rights, clings to fossils
• International legal concerns: Norway’s largest private asset manager excludes Siemens Energy
• Gas turbines for LNG-Project in conflict area in Mozambique

The German energy utility RWE is suing the Netherlands for its mandatory coal phase-out by 2030, seeking €1.4 billion in compensation on the basis of the controversial Energy Charter Treaty. In December 2019, the Dutch state had issued a coal phase-out, which would force RWE to stop burning coal in its Eemshaven power plant by the end of the decade. The environmental and human rights organisations Urgewald and Reclaim Finance call on RWE to withdraw the lawsuit and are asking investors to divest RWE for its repeated anti-climate action lobbying efforts.