BACK TO TOP

Insure Climate Justice Demands

We need a just transition and ensure energy access for all. For this to happen, those who currently hold the power must act to keep fossil fuels in the ground and support just climate solutions. We’re demanding the following:

1. An immediate phase out of the insurance of ‘all’ coal (including coking coal) and fossil fuels.

2. A stop to insurers supporting and profiting from fossil fuel extraction, and new infrastructure like roads and airports. The insurance industry must stop investing in and insuring these projects.

Transnational corporations profit from health and housing inequality in the UK, and also from coal, oil and gas extraction, mining, biofuel plantations and industrial agriculture abroad. The City of London’s financial sector all continue to bankroll and insure the corporations sucking our planet dry, harming people and nature.

Without corporate accountability and transparency we are in a race to the bottom on workers’ rights and climate, environmental and social standards.

3. Payment of climate reparations for the harms they drive around the world by insurance companies that have profited, and continue to profit, from causing climate chaos.

Climate reparations are a way to work towards guaranteeing thriving communities both in the global north and the global south.

It’s time to make climate polluters pay reparations for the care, regeneration & repair that our planet, our children and our communities deserve. It also means transforming the financial industry and corporations - bringing them under democratic accountable control - so we can ensure well-being and sustainability for all people and ecosystems.

4. We need a financial transaction Tax to pay for loss and damages caused by climate chaos and good, green jobs through a Global Green New Deal.

Especially for workers transitioning from high carbon industries and projects and those hit the hardest by climate impacts, Covid-19, and precarity.

5. The democratisation of the insurance industry to force a just transition for all.

We need to invest in win-win infrastructure solutions for communities.  For example, investing in good, green and community-owned housing can foster more equity, create retrofitting jobs, improve health, reduce energy poverty or insecurity, and reduce emissions all at once.

Public electric transport could foster more interconnected neighbourhoods and address the fact that poor and Black people are disproportionately exposed to air pollution. Repairing our connection with land and promoting sustainable, localised and healthy food can improve health, lower pollution, and foster biodiversity. Supporting and investing in low-carbon sectors, especially in health and social care, could ensure we recentre intergenerational well-being in our society and learn from Covid-19 to prioritise people over profit.

We need new rules that bring corporations and financiers into democratic control so that we can, together, prioritise care, regeneration and repair over profit and pollution.

CAMPAIGN TARGETS

Insurance Scorecard

Insure Our Futures Scorecard shows which insurance companies are taking action on fossil fuels and climate change. It focuses on 30 leading primary insurers and reinsurers, assessing and scoring their policies on insuring and investing in coal, oil, gas, and other aspects of climate (in)action….

AIG

AIG is a major insurance provider to fossil fuel companies, and has billions invested in the industry. AIG is the largest coal insurer outside of China, and one of the few still able and willing to underwrite new, multi-billion-dollar coal projects. The company is also…

Lloyd’s of London

Lloyd’s provides insurance and reinsurance that supports and enables some of the world’s worst fossil fuel projects including coal mines, tar sands pipelines, and new oil & gas exploration. Their business plans are incompatible with keeping climate change under 1.5°C. In total, Lloyds insures 40%…

CONNECT WITH US

Stop Adani

People across Australia have been fighting for 10 years to stop one of the most devastating mining projects currently being planned on the globe. The Adani coal mine, if it goes ahead, will open up the Galilee basin - one of the biggest untouched coal reserves on the planet - paving the way for at least eight more coal mines to be built. All at a time when scientists are warning we can't build any more fossil fuel infrastructure if we want to avoid catastrophic global heating.

Australia is already the world's number one exporter of coal and these mega-mines would double their current output! If that isn't enough, if built, Adani’s Carmichael mine will destroy the ancestral lands, waters and cultures of Indigenous people.

On the front line of the Adani mine standing their ground are the Wangan and Jagalingou people who have never given their free, prior, and informed consent to Adani’s mine and have said "No" to Adani five times. Adani has not only stolen their land (with the government's permission) but also bankrupted their spokesperson.

The Wangan and Jagalingou traditional custodians are joined by people from across Australia standing up to their corrupt politicians and the mining giants who own them. Together they have built the biggest climate movement in Australia's history.

In 2020 documents were leaked showing that Lloyd's of London were insuring the Adani mine. This kicked off a wave of actions targeting the individual insurance companies that make up the Lloyd's marketplace. The majority of the insurance companies involved have committed to not reinsure Adani. The fight isn’t over yet, and we will continue to demand all insurance companies rule out this dangerous project.

It’s unfortunately not just the UK insurance industry supporting Adani. Shockingly, the British Science Museum has joined forces with Adani, allowing them to sponsor their new Energy Revolution gallery! We are supporting groups across the world who are demanding the museum drops Adani.

ACTIONS & NEWS

ACTION: British Science Museum’s dirty coal money

The Adani Group wants to expand its coal operations by 800%. Sadly, this is the British Science Museum’s new sponsor of the ‘Energy Revolution’ Gallery!

ACTION: #StopAdani on Social Media Pile On

Adani’s mines are supported by the UK’s finance industry – providing insurance and funding for it’s devastating coal mines in Australia, India and beyond. Can you to join us on Twitter and Facebook, to take on the institutions enabling climate breakdown?

Lloyd’s failure to implement ESG policy is driven by its CEO John Neal

“It is a serious problem that John Neal has not been well enough briefed, or is just personally sceptical, about climate science and the findings of the International Energy Agency.”

People from Across the World hold Climate Memorial at Lloyd’s of London

Today, on the eve of COP26 climate talks Coal Action Network were joined by Youth Strikers from across the world and the Pacific Climate Warriors, to set up a climate justice memorial at Lloyd’s of London HQ. The climate memorial was created to remember communities on the front lines of climate breakdown, who are being directly impacted by harmful projects and climate impacts. 

ACTION: Google Review Swarm – Stop Adani

Our guide to Google review swarming Lloyd’s of London market members to mount public pressure on them to rule out the Adani coal mine.

Lloyd’s Feeling the Pressure over Coal

As they reopened after lockdown, Lloyd’s of London and companies involved in their marketplace opened their offices to find local people demanding that they rule out insuring the West Cumbria and Adani coal mines immediately.

Brit & Hiscox will never insure Adani coal mine

Major Lloyd’s of London insurer Brit is the latest firm to rule out insurance for Adani’s controversial Carmichael coal mine project.

CONNECT WITH US

Stop Trans Mountain Pipeline

The Trans Mountain pipeline and its expansion have been fiercely opposed for years by people globally. Its environmental risks are monumental. The pipeline carries crude and refined oil through so-called Canada; from Alberta to the coast of British Columbia, and the proposed expansion would carry an extra 590,000 barrels of tar sands oil a year, nearly tripling its existing capacity.

This expansion cuts across the Lands of multiple Indigenous nations. More than 120 First Nations and Tribes comprising the Treaty Alliance Against Tar Sands Expansion oppose the project. In the words of Erica Masuskapoe, a frontline Indigenous participant in direct actions at insurance offices, “the Trans Mountain expansion degrades Indigenous ancestral homelands and sacred waters and is a perpetuation of genocidal practices by the Canadian petro-state.” Yet despite the frontline communities, environmental groups, and individuals globally are standing up against the project, it is still set to proceed, in ignorance of the devastating potential consequences. This includes the existing pipeline’s track record, of 82 leaks including four major oil spills. While arrests are made to force TMX through, those with the power to stop the expansion in its tracks are not acting fast enough.

Last year, Canadian tar sands producers committed to achieve net-zero emissions in their operations by 2050, yet made no mention of winding down oil production. These two things are incompatible. We need companies to stop making greenwashing statements that do not translate to meaningful action, and we need insurers to commit to not underwriting the pipeline.

The tide is starting to turn. Insurance giants and experts are beginning to see the project for what it is: a risky proposition at best. Robyn Allan, the former CEO of the Insurance Corporation of British Columbia, last year underscored the Trans Mountain as a “huge insurance” and “huge safety” risk which “any insurer would be worried about.”

Thanks to the efforts of those who have been fighting against the Trans Mountain Pipeline, insurers are starting to distance themselves from the pipeline. In 2021, Chubb became the 16th insurer to declare it would not back the controversial project. But the fight isn’t over; we need all insurance companies to rule out Trans Mountain. And we need them to do it fast.

ACTIONS & NEWS

Coal Action Network protest outside of Lloyd’s of London AGM

Last Thursday, 18th May, Coal Action Network protested outside of Lloyd’s of London, for their role in insuring the expansion of the Trans Mountain Pipeline (TMX) and the East Africa Crude Oil Pipeline (EACOP).

Arch severs ties with Trans Mountain Pipeline amid climate & flood risk

Lloyd’s of London member Arch Insurance has committed to no longer insure the Trans Mountain tar sands pipeline after its current insurance policy expires this summer.

Trans Mountain Insurer Aspen Commits to Cut Ties with the Tar Sands Pipeline

Lloyd’s of London member Aspen Insurance has pledged to cut ties with the Trans Mountain (TMX) tar sands pipeline after its current insurance policy expires in summer 2022.

AIG’s climate commitments are a major step forward for US insurance industry’s exit from fossil fuels

“As one of the last major insurers without restrictions on coal insurance, AIG’s new commitments to reduce underwriting for coal, tar sands oil, and Arctic oil and gas are a major step forward for people and the planet,”

Lloyd’s failure to implement ESG policy is driven by its CEO John Neal

“It is a serious problem that John Neal has not been well enough briefed, or is just personally sceptical, about climate science and the findings of the International Energy Agency.”

People from Across the World hold Climate Memorial at Lloyd’s of London

Today, on the eve of COP26 climate talks Coal Action Network were joined by Youth Strikers from across the world and the Pacific Climate Warriors, to set up a climate justice memorial at Lloyd’s of London HQ. The climate memorial was created to remember communities on the front lines of climate breakdown, who are being directly impacted by harmful projects and climate impacts. 

CONNECT WITH US