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.
At Lloyd's of London HQ Pacific Climate Warriors lay floral tributes to those in danger from climate change in their home islands.
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.
The insurance industry found itself in the spotlight last week as a Global Week of Action blossomed across the world. From February 27th to March 3rd 2024, a wave of protests, both online and in the streets, swept through the doors of insurance giants, demanding accountability over their support for polluters and decisive action on climate change.
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).
After months of campaigning, five more major insurance companies have announced they will not support the East African Crude Oil Pipeline (EACOP)!
People hailing from Cumbria to London, and everywhere in between, descended on the Mines and Money Conference in London across two days (28th-29th Nov 2023). We demanded that investors stop pouring cash into the mining sector, and instead invest in our collective future. Together with Fossil Free London and other groups, we greeted investors with…
The insurers that have ruled out underwriting the mine are AEGIS Managing Agency, Argenta Syndicate Management, Hannover Re and Talanx. These are the first financial institutions to rule out any involvement with the project, and the win represents a new phase in the campaign to stop the project from going ahead.
Today’s global actions focused specifically on the state-owned China Export & Credit Insurance Corporation (Sinosure), the Export-Import Bank of China (China Exim), and the Industrial and Commercial Bank of China (ICBC). Sinosure is said to be in advanced talks with the Ugandan government about providing credit for the project.
On 18th October dozens of protesters staged a sit-in occupation of the plush City of London offices of ten Lloyd’s of London insurers demanding they rule out insuring the proposed West Cumbria coal mine and East Africa Crude Oil Pipeline (EACOP).
Following a week of protests, Cincinnati Global’s syndicate at Lloyd’s confirmed that it will not insure the East Africa Crude Oil Pipeline, which has been the subject of international protests.
In March, leading climate scientists delivered a “final warning” on climate change: act now. We’ve got five actions you can take with us to keep the pressure on the governments, financiers, insurers, and fossil fuel companies that are pushing us deeper into climate crisis.
Following a week of protests, Cincinnati Global’s syndicate at Lloyd’s confirmed that it will not insure the East Africa Crude Oil Pipeline, which has been the subject of international protests.
The East Africa Crude Oil Pipeline is a heated oil pipeline currently under construction. Once completed, it will stretch for almost 1,445 kilometres across Tanzania and Uganda – making it the longest heated crude oil pipeline in the world. The pipeline will disturb sensitive ecosystems…
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…
