"In no way is any insurance company exempt from scrutiny on ESG topics. The applicability of social and governance issues to insurance companies is obvious: insurers need to address issues such as diversity, wages, cyber risks, and ethics just as much as a manufacturer does. The applicability of environmental issues is a bit less obvious. An insurer can reduce its own carbon footprint by using energy wisely, but the larger concern is how an insurer invests and how an insurer is a supplier of risk mitigation services to companies. For property-casualty companies, one example is a move toward not offering insurance products to the coal industry because by doing so the insurer is enabling the coal industry to continue its contribution toward environmental problems."