Maine LD1674 mandates insurers to address climate risk in their business activities.
Maine LD1674, the Insuring Our Communities Act, requires insurers to address climate risk in their business activities. Insurers must report on their investments and underwriting related to fossil fuels and climate risk. The superintendent must compile and post these reports on the bureau's website. The act also mandates divestiture from fossil fuel revenue by September 15, 2030, and requires insurers to align their investment and underwriting activities with science-based climate risk mitigation targets.
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