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This week, facing mounting pressure from campaigners, Lloyd’s of London syndicate, Probitas1492, ruled out providing insurance for Adani’s Carmichael coal mine and its related infrastructure. Probitas was known to insure the mine’s transport system, but also admitted that the mine itself had been insured through the Lloyd’s of London marketplace. Ash Bathia, Chief Executive Officer …
Originally published in ESG Investor on February 9, 2023 Since activist short-seller Hindenburg Research accused the Adani Group of “pulling the largest con in corporate history” on 25 January, the value of the world’s biggest private developer of new coal has been in free fall. The exposure of Adani’s fraud sheds an embarrassing light on organisations – …
Meeting reveals Neal’s failure to understand the need to stop insuring fossil fuel expansion On February 16, Insure Our Future network members challenged John Neal, CEO of Lloyd’s of London, on the insurer’s fossil fuel policies and actions in a long awaited, but ultimately very disappointing, on-the-record meeting at Lloyd’s Lime Street headquarters. The meeting …
Mums, dads and children made a Father’s Day appeal to Lloyd’s of London Chairman, Bruce Carnegie-Brown, to stop insuring fossil fuels at a protest outside the companies’ London headquarters today. The parents delivered a giant oil drum of dead flowers and an oversized Father’s Day card to Carnegie-Brown in a direct appeal to the …
Confronted with the heat of targeted advocacy by climate justice campaigners as well as Indigenous Peoples’ rights movements, Tokio Marine Kiln (TMK, identified with Lloyd’s Syndicates 510, 557 and 1880) has publicly committed to not participate in ‘any future underwriting’ of Adani’s controversial Carmichael coal mine in Australia. Earlier this month, when Lloyd’s syndicate MS …
The Insure our Future network increases pressure on Lloyd’s with the launch of a website calling on the insurer to strengthen its ESG policy and stop insuring coal and new oil and gas projects that exacerbate climate change. Lloydsinsureourfuture.com provides a gateway to action for the growing global network of organisations and individuals, including Lloyd’s …
Major Lloyd’s of London insurance syndicate Brit has committed to never directly insure the Carmichael Coal Project and to not renew insurance involving any associated aspects of the project, most likely referring to the rail line. In an email to Insure Our Future, Brit stated: Brit does not, has never, and will not write any …
Adani and its rail line contractors, BMD and Martinus, have failed to prepare for the wet season. Pictures have emerged of substantial flooding on a section of the under-construction rail line to service the proposed Adani Carmichael coal mine in Australia. Lawyers from Environmental Justice Australia (EJA), acting for Mackay Conservation Group (MCG), have written …
Adani’s Insurer and Lloyd’s of London syndicate Apollo has dropped Adani’s Carmichael coal project following pressure from the climate campaigners and the #StopAdani movement. Apollo confirmed that the insurer will not provide cover for Adani’s coal mine, rail project or coal port after their current construction policy terminates in September 2021. The syndicate also revealed …
Climate campaigners from the Stop Adani campaign and Pacific Climate Warriors joined forces October 27 and 28 to call on Lloyd’s of London and its members to follow the lead of 23 major insurance companies, including several Lloyd’s syndicates, and stop insuring Adani’s Carmichael coal project in Australia. If built, Adani’s Carmichael mine will, amongst …
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