Just four of Europe’s biggest insurance companies funded more climate pollution across the globe in 2021 than Scotland produces each year, analysis by The Ferret has found.
Campaigners argued that the insurance companies had recognised that allowing "new fields to proceed goes against climate science".
Insurers have invested over £6bn in North Sea oil and gas firms since 2016, while removing cover and hiking prices for communities facing climate breakdown.
Only three of the world’s 30 biggest insurance companies have adopted policies to stop insuring new oil and gas projects.
Private finance schemes by successive governments have left Scottish taxpayers footing a £40 billion bill to build schools, hospitals, roads and other projects worth £9 billion, according to Scotland’s spending watchdog.
The Scottish Government is coming under pressure to find a new way to finance infrastructure investment as concerns rise over the cost of private finance schemes.