On April 7, 2023, The Travelers Companies Inc announced that it has received a shareholder proposal from Green Century Capital Management Inc, requesting the Company to adopt and disclose a policy for the timebound phase out of Company's underwriting risks associated with new fossil fuel exploration and development projects, aligned with the IPCC's recommendation to limit global temperature rise to 1.5 degrees Celsius. In addition, the Company recommended the shareholders to vote against the proposal at the annual meeting of shareholders scheduled to be held on May 24, 2023.