After a week of peaceful protest around the world, alongside hundreds of groups, our efforts have paid off. Yet another leading insurance company, Probitas, has ruled out insuring the proposed West Cumbria coal mine and the East African Crude Oil Pipeline (EACOP).
Probitas is the 29th insurance company to rule out EACOP and the sixth to rule out West Cumbria coal mine.
Insurance is the polluters’ Achilles Heel - without it, polluters cannot operate coal, oil or gas projects. So if the insurance industry refuses contracts with new and expanding projects, that ends fossil fuel expansion for good.
The decision by Probitas is a strong sign that the insurance industry is starting to recognise the severe risks of dirty fuel projects - to their reputations, their bottom lines and to ordinary communities who want a safe, healthy word.
The more insurance companies pull away from these controversial projects, the harder it will be for them to raise the money they need to go forwards.
Another breakthrough came earlier in the week of action, when Zurich agreed to enter talks with campaign groups, including Extinction Rebellion, about Insure Our Future’s demands - including an end to insuring new fossil fuel expansion.
These victories can be attributed to the great diversity of approaches used throughout Insure Our Future’s Global Week of Action. Through many forms of non-violent protest and campaigning, groups encouraged insurance workers to reflect on how the industry’s support for new fossil fuels is making the world more chaotic, and the unique power of insurers to instead bring more safety and fairness to communities facing extreme weather and a lack of clean energy.
From protest marches to direct action, from petitions to mass phone calls and emails from volunteers, Coal Action Network and our many partner groups used all the tactics in the protest toolkit to urge insurance companies to step up.
In London, the week kicked off with a spectacular dance performance by Mothers Rise Up, directed by one of the world’s leading opera choreographers Denni Sayers, set against classical music and conveying an important message for insurers to protect children and future generations.
This was followed by office occupations and a peaceful protest that encircled the headquarters of insurance marketplace, Lloyd’s of London’s. Later, groups took similar action against insurers up and down the country in major cities, while many thousands took part in online mass emails, phoning and commenting on crucial platforms like LinkedIn.
The ongoing Insure Our Future campaign has the potential to prevent new coal, oil and gas projects from ever destroying our climate, communities and nature.
By working together, we can urge insurers to play their part in creating a safer, more secure world for future generations and countries on the frontline of the climate emergency.
We can achieve this if we convince enough insurance companies to reject contracts with the companies behind these two key ‘carbon bombs’ - the toxic French energy giant Total and West Cumbria Mining Limited.
The Global Week of Action is not over yet. Coal Action Network is keeping up the momentum by running another round of mass emails this week. To get involved, keep an eye on Coal Action Network’s social media pages.
