The U.S. Treasury Department announced on Thursday it had reached an agreement with the National Association of Insurance Commissioners under which state insurance regulators will collect and share data about how climate change is affecting insurance companies, a compromise after companies complained about a requirement for federal disclosure of climate risks. The increasing frequency and severity of climate-fueled disasters is causing rising concern nationwide as insurers flee uninsurable markets, and activists urge the insurance industry to stop financing operations that exacerbate the climate crisis. Insure Our Future’s global week of action (from Feb. 26-March 3) included actions in 31 countries calling on the insurance industry to stop underwriting fossil fuel projects.

“The insurance industry is the one that is sustaining this climate crisis,” Hillary Innocent Taylor Seguya, an activist with Stop EACOP, a group fighting the East African Crude Oil Pipeline, told Inside Climate News. “If they pull out of insuring these carbon bombs—the oil, gas and coal projects—there is no way that the fossil fuel industry will survive.” (Treasury: E&E $, Bloomberg $; Data collection: New York Times $; Protests: Inside Climate News)