Insurance is big business. Each year, we collectively pay more than $7 trillion in insurance premiums, a massive pool of cash that is then invested across the global economy. This makes insurance spending one of the most powerful forms of capital allocation in the world. Where does all of that money go? Unfortunately, the insurance industry invests much of it into the industries most responsible for driving climate change — such as fossil fuels, heavy manufacturing, and unsustainable land use — and uses it to underwrite high-risk, carbon-intensive projects.
What if we could use our insurance spending to drive positive change? Premiums for the Planet is a Certified B Corp working to harness the power of insurance to create a more just and habitable planet. By uniting their collective insurance spending, Premiums for the Planet enables its members to create leverage in the market and use their shared voice, and insurance dollars, to drive a systemic shift toward climate stewardship, equity, and resilience.
A lifelong activist and entrepreneur with more than 25 years of purpose-driven strategy experience, Premiums for the Planet founder and CEO Brad Stevenson spearheaded a 2018 movement that united advocacy groups, brands, and responsible banking leaders to shift hundreds of millions of dollars in bank deposits away from fossil-fuel-heavy institutions. Following that success, he turned his attention to the untapped power of reallocating insurance capital and founded Premiums for the Planet.
“Business leaders are increasingly paying attention to the financial levers that shape their climate impact,” Stevenson says. “Many have already moved their banking or 401(k) investments to better align with their values. Insurance may be the most powerful and overlooked lever of all. By rethinking insurance not as a static cost but as a powerful form of capital allocation, companies can reduce risk, unlock savings, and ensure their dollars are supporting a more just and habitable planet.”
In this Q&A, Stevenson shares why coming together to shift the insurance system is one of the most powerful ways to use business as a force for good.
How does Premiums for the Planet help member companies leverage insurance spending to mitigate climate change?
We help companies use the same dollars they are already spending on insurance to drive meaningful climate action. It starts with a risk audit that often reveals hidden coverage gaps and cost-saving opportunities. From there, we connect them with brokers who understand both their values and their risk profile. But the deeper impact comes from scale. By aggregating premiums across our growing network, we are creating a collective market signal that insurers cannot ignore.
Insurance is not just a financial product — it is a gatekeeper. Without insurance, most activities cannot happen. No insurance means no financing, no permits, and often no business. That makes the insurance industry one of the most powerful systems shaping the real economy. By working together, we can push insurers to shift their investments and underwriting toward sustainability, making climate-positive outcomes not only possible but standard.
How does aligning with Premiums for the Planet help businesses achieve their own impact goals and be part of collective action for change?
Joining Premiums for the Planet allows companies to make a meaningful difference through a core business function they already rely on. It improves their risk profile, can lower costs, and helps align their operations with their values. It also connects them to a growing movement of brands and nonprofits working together to shift the insurance sector toward climate-aligned solutions. For B Corps and other purpose-driven companies, this is a natural extension of their commitment to using business as a force for good. Insurance touches every industry. If we want a livable future, we need to change how the system works.
Can you walk us through an example of one of your clients and how shifting to Premiums for the Planet affected their business and impact?
The Sierra Club Foundation came to us looking to better align its operations with its mission. Through our audit process, we identified both coverage gaps and overages that, once addressed, created opportunities for stronger protection and cost savings of about 10 percent. Just as importantly, we connected them with a broker who understood their nonprofit structure, risk profile, and climate goals. That relationship gave them more tailored guidance, better transparency into where their premium dollars were going, and a clearer strategy for managing risk. While we have not yet moved their premiums, they are now well-positioned to do so in a way that supports both their mission and a broader collective effort. By joining Premiums for the Planet, they are helping build the momentum needed to shift the insurance industry toward more responsible investing and underwriting practices.
Many companies are looking to bake impact into their financial reporting, as part of increasing expectations around ESG reporting for regulatory and investor purposes. Does working with Premiums for the Planet help companies do that?
Yes. Members have already included their work with Premiums for the Planet in ESG or impact reports. But this work goes beyond metrics. This is about harnessing the power of insurance to build a more just and habitable planet. One company making a change is meaningful. But when hundreds or thousands join together — as they have in other movements like 1% for the Planet — it creates the pressure needed to shift entire industries. That is our model. We are not here to play musical chairs between unsustainable carriers. We are here to organize demand so that insurers must compete on sustainability. If insurance determines what gets built, financed, and protected, then shifting this system is one of the most powerful ways to use business as a force for good.