Home > QBE supporting Adani!

QBE supporting Adani!

3 May 2017

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May 2017

At their annual general meeting in Sydney, QBE revealed that even though it has not yet been approached to underwrite the Carmichael mega mine, it has an ongoing relationship with the mine’s owner, Adani.

The insurer, which operates globally and is a major underwriter of fossil fuel infrastructure, supports Adani’s businesses in India, and some of their cargo ships.

Adani is going to need insurance at every point of its plans to build the Carmichael mine and export it to power stations in India and around the world. QBE’s existing relationship means it it highly likely that Adani would approach the company in future.

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Name*
First Last
Email Address*
Postcode*
Phone number
I am...(tick any that apply)
- A QBE customer
- A QBE shareholder
Subject (you can edit this)
Your message (you can personalise and amend this, your name will be automatically added at the end)*
Dear QBE, Considering your existing relationship with Adani in India, I am concerned that your company could become involved in Adani's plans to mine and export coal from the Galilee Basin in Queensland. I want you to confirm to me personally, and announce publicly, that you will not be involved in any part of this project. The proposed Carmichael coal mine poses numerous environmental risks, including the depletion of groundwater, increased particulate air pollution along the transport and shipping corridor, as well as in the region where the coal is burned, increased industrialisation of Great Barrier Reef World Heritage Area coastal boundary as a result of larger shipping volumes, and potentially the dredging and construction works for a new coal export terminal at Abbot Point. The project also does not stack up economically, pushing against the tide of a declining coal sector, and becoming increasingly reliant on public subsidies to be financially sustainable. Most critically of all, the world is on the brink of triggering runaway climate change, and the Paris climate change agreement struck in 2015 aims to hold global warming to well below 2˚C above preindustrial levels. Building Australia’s largest thermal coal mine is about the clearest example of what we need to avoid if we want a stable long-term climate. As an insurance company it is clearly in your interest to help fight climate change. Helping the construction of a new coal mine is something no insurance company should be involved with. In fact, given your stated support for the goals of the Paris climate change agreement, QBE should be acknowledging that this means we cannot expand the fossil fuel industry beyond its current scale, and committing to stop underwriting new fossil fuel projects, as your peers are doing. The Carmichael coal mine has become one of the most controversial projects in the world, opposed by the majority of Australians with hundreds of thousands taking action through petitions or public activities to demonstrate their opposition. Any company associated with the project will be held accountable by the community for its support of this environmentally destructive and economically reckless project. Again, I urge you to confirm that your company will not help contribute to Adani's destructive Carmichael coal plans. I expect your prompt reply to unequivocally rule out any involvement by your company in any part of the Adani Carmichael coal project, and to confirm that QBE will no longer insure projects that expand the fossil fuel industry. Sincerely,
Your message (you can personalise and amend this, your name will be automatically added at the end)*
Dear QBE, Considering your existing relationship with Adani in India, I am concerned, as a customer of yours, that your company could become involved in Adani's plans to mine and export coal from the Galilee Basin in Queensland. I want you to confirm to me personally, and announce publicly, that you will not be involved in any part of this project. The proposed Carmichael coal mine poses numerous environmental risks, including the depletion of groundwater, increased particulate air pollution along the transport and shipping corridor, as well as in the region where the coal is burned, increased industrialisation of Great Barrier Reef World Heritage Area coastal boundary as a result of larger shipping volumes, and potentially the dredging and construction works for a new coal export terminal at Abbot Point. The project also does not stack up economically, pushing against the tide of a declining coal sector, and becoming increasingly reliant on public subsidies to be financially sustainable. Most critically of all, the world is on the brink of triggering runaway climate change, and the Paris climate change agreement struck in 2015 aims to hold global warming to well below 2˚C above preindustrial levels. Building Australia’s largest thermal coal mine is about the clearest example of what we need to avoid if we want a stable long-term climate. As an insurance company it is clearly in your interest to help fight climate change. Helping the construction of a new coal mine is something no insurance company should be involved with. In fact, given your stated support for the goals of the Paris climate change agreement, QBE should be acknowledging that this means we cannot expand the fossil fuel industry beyond its current scale, and committing to stop underwriting new fossil fuel projects, as your peers are doing. The Carmichael coal mine has become one of the most controversial projects in the world, opposed by the majority of Australians with hundreds of thousands taking action through petitions or public activities to demonstrate their opposition. Any company associated with the project will be held accountable by the community for its support of this environmentally destructive and economically reckless project. Again, I urge you to confirm that your company will not help contribute to Adani's destructive Carmichael coal plans. I expect your prompt reply to unequivocally rule out any involvement by your company in any part of the Adani Carmichael coal project, and to confirm that QBE will no longer insure projects that expand the fossil fuel industry. Sincerely,
Your message (you can personalise and amend this, your name will be automatically added at the end)*
Dear QBE, Considering your existing relationship with Adani in India, I am concerned, as a QBE shareholder, that our company could become involved in Adani's plans to mine and export coal from the Galilee Basin in Queensland. I want you to confirm to me personally, and announce publicly, that you will not be involved in any part of this project. The proposed Carmichael coal mine poses numerous environmental risks, including the depletion of groundwater, increased particulate air pollution along the transport and shipping corridor, as well as in the region where the coal is burned, increased industrialisation of Great Barrier Reef World Heritage Area coastal boundary as a result of larger shipping volumes, and potentially the dredging and construction works for a new coal export terminal at Abbot Point. The project also does not stack up economically, pushing against the tide of a declining coal sector, and becoming increasingly reliant on public subsidies to be financially sustainable. Most critically of all, the world is on the brink of triggering runaway climate change, and the Paris climate change agreement struck in 2015 aims to hold global warming to well below 2˚C above preindustrial levels. Building Australia’s largest thermal coal mine is about the clearest example of what we need to avoid if we want a stable long-term climate. As an insurance company it is clearly in your interest to help fight climate change. Helping the construction of a new coal mine is something no insurance company should be involved with. In fact, given your stated support for the goals of the Paris climate change agreement, QBE should be acknowledging that this means we cannot expand the fossil fuel industry beyond its current scale, and committing to stop underwriting new fossil fuel projects, as your peers are doing. The Carmichael coal mine has become one of the most controversial projects in the world, opposed by the majority of Australians with hundreds of thousands taking action through petitions or public activities to demonstrate their opposition. Any company associated with the project will be held accountable by the community for its support of this environmentally destructive and economically reckless project. Again, I urge you to confirm that your company will not help contribute to Adani's destructive Carmichael coal plans. I expect your prompt reply to unequivocally rule out any involvement by your company in any part of the Adani Carmichael coal project, and to confirm that QBE will no longer insure projects that expand the fossil fuel industry. Sincerely,
Your message (you can personalise and amend this, your name will be automatically added at the end)*
Dear QBE, Considering your existing relationship with Adani in India, I am concerned, as a QBE shareholder and customer, that our company could become involved in Adani's plans to mine and export coal from the Galilee Basin in Queensland. I want you to confirm to me personally, and announce publicly, that you will not be involved in any part of this project. The proposed Carmichael coal mine poses numerous environmental risks, including the depletion of groundwater, increased particulate air pollution along the transport and shipping corridor, as well as in the region where the coal is burned, increased industrialisation of Great Barrier Reef World Heritage Area coastal boundary as a result of larger shipping volumes, and potentially the dredging and construction works for a new coal export terminal at Abbot Point. The project also does not stack up economically, pushing against the tide of a declining coal sector, and becoming increasingly reliant on public subsidies to be financially sustainable. Most critically of all, the world is on the brink of triggering runaway climate change, and the Paris climate change agreement struck in 2015 aims to hold global warming to well below 2˚C above preindustrial levels. Building Australia’s largest thermal coal mine is about the clearest example of what we need to avoid if we want a stable long-term climate. As an insurance company it is clearly in your interest to help fight climate change. Helping the construction of a new coal mine is something no insurance company should be involved with. In fact, given your stated support for the goals of the Paris climate change agreement, QBE should be acknowledging that this means we cannot expand the fossil fuel industry beyond its current scale, and committing to stop underwriting new fossil fuel projects, as your peers are doing. The Carmichael coal mine has become one of the most controversial projects in the world, opposed by the majority of Australians with hundreds of thousands taking action through petitions or public activities to demonstrate their opposition. Any company associated with the project will be held accountable by the community for its support of this environmentally destructive and economically reckless project. Again, I urge you to confirm that your company will not help contribute to Adani's destructive Carmichael coal plans. I expect your prompt reply to unequivocally rule out any involvement by your company in any part of the Adani Carmichael coal project, and to confirm that QBE will no longer insure projects that expand the fossil fuel industry. Sincerely,
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