Insurers State Farm and Berkshire Boost Investments in Fossil Fuels

While many insurers have reduced their investments in fossil fuel companies, State Farm, the largest U.S. home and auto insurer, and Berkshire Hathaway’s insurance companies have boosted their investments in oil and gas firms over the past decade, an analysis by The Wall Street Journal showed on Wednesday. Fossil fuel financing and insurance have come under scrutiny in recent years as ESG policies have become mainstream for many investors. The Journal has now analyzed annual filings of insurers’ investments in stocks and bonds obtained…