Without insurance, new fossil fuel projects cannot be built and most existing ones cannot continue to operate. While some insurers have started to rule out underwriting a few coal projects, the sector continues to wreck our climate by supporting ever more coal mines, gas pipelines and oil fields.
These projects are often built on stolen land and poison local communities. The impacts of climate chaos will destroy the lives of billions of people, devastating already exploited communities first. Right now, millions of people are losing their homes, livelihoods and food security to natural disasters. Thousands are losing their lives. The response from insurance companies is to increase their profits by cutting off insurance from the communities on the frontline of climate change.
Across the world, communities are standing up to the insurance industry to stop fossil fuel projects. We stand in solidarity with them to demand climate justice. The insurance industry must stop underwriting fossil fuel projects, divest their funds from fossil fuel companies, and pay reparations to communities for the loss and damage already being done.
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…
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…
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…
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).
“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,”
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?
“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.”
Last Friday 29th October, on the eve of COP26 climate talks, Coal Action Network, Extinction Rebellion North East and Newcastle Youth4Climate set up a climate justice memorial at Chubb Insurance (116 Quayside). The climate memorial was created to remember communities…
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.
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.
Major Lloyd’s of London insurer Brit is the latest firm to rule out insurance for Adani’s controversial Carmichael coal mine project.