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.
Activists from the StopEACOP Coalition held an ‘oil spill’ demonstration outside the offices of Lloyd’s of London insurers, Talbot & Cincinnati Global Underwriting, to demand they rule out the controversial East Africa Crude Oil Pipeline.
Activists delivered thousands of messages from people around the world to all three of Probitas 1492’s UK offices, with the message: “Probitas, break up with Adani.” Find out how you can take action to cut of this toxic project’s insurance.
Four insurers ruled out EACOP in the past two weeks due to pressure from activists and engagement with campaigners, with Canopius the latest to distance itself from the mega-pipeline.
We need all insurance companies to rule out EACOP, and stop the toxic pipeline at its source. Next, we want Canopius Group, and Chaucer insurance to rule it out, and we know that constant pressure works.
Arch Capital Group Ltd and AEGIS London join the 19 (re)insurance companies ruling out the controversial East Africa Crude Oil Pipeline (EACOP) project.
Analysing 30 leading primary insurers and reinsurers, assessing their policies on insuring and investing in coal, oil, gas, the Insure Our Future 6th Annual Scorecard cuts through the greenwash
Four fewer banks and five fewer insurers on side with EACOP, and pressure is mounting on the remaining insurers and on Lloyds of London.
Lloyd’s of London Chairman, Bruce Carnegie-Brown, has reportedly offered an ‘olive branch to eco-activists.’ Having listened to his comments, we’re not so sure – and we certainly won’t be placated until the insurance industry’s actions start speaking louder than their words. Read our response to the latest greenwashing from the insurance industry.
Talanx, Germany’s third largest insurer, is the latest (re)insurance company to confirm to the #StopEACOP Coalition that they will not underwrite the East African Crude Oil Pipeline (EACOP).
Insurance providers Argo Group and Axis Capital, both Lloyd’s of London members, and RSA Insurance Group Limited, a leading UK insurer, have announced they will not be involved in underwriting the East African Crude Oil Pipeline (EACOP) project.
