22 November 2021
Two major London insurers, RSA Insurance Group and Conduit Re, have ruled out underwriting Adani’s controversial Carmichael coal project in Australia.
In an email to Market Forces, RSA stated: “Our underwriters follow our Climate Change and Low Carbon Policy, which means we would not provide cover to the Adani Carmichael thermal coal project.”
Similarly, Conduit’s CEO, Trevor Carvey, replied: “We note and support the responses by a number of our peers regarding their involvement as insurers of the Adani Carmichael Coal Mining project. (I confirm) Conduit Re does not insure the Adani Carmichael Mining project and has no intention of doing so in the future”
RSA and Conduit have become the 41st and 42nd insurance companies to rule out insurance for the controversial coal mine and rail project!
With more than 40 insurance companies ruling out any involvement with Adani’s climate-wrecking project, Adani’s insurance options for its disastrous Carmichael project are rapidly shrinking. One notable exception is London-based Convex Insurance, making Convex one of the only companies left that could provide the much needed insurance for the project.
Earlier this month, we published a satirical video, posted below, exposing Convex’s willingness to insure coal. It obviously hit the mark as Convex lodged a complaint to get it taken down from YouTube.
However, the video is still available for sharing as widely as possible on both facebook and twitter!
If you want to help us put pressure on Convex to rule out insurance for the Carmichael project, fill in the form on the side to send them an email and share our video.
Help us make sure that the insurance the Adani Carmichael project so badly needs doesn’t get renewed under our watch.
Tell insurer Convex it must insure our future, not the Adani Carmichael coal project!
Unfortunately, some companies have blocked emails coming through the Market Forces website. They think that they can silence you. But we have created a workaround to make sure that your message will still reach them.
Make sure you’re signed-in to your preferred email client and then use this form to tell Convex that insuring Carmichael coal is terrible for the climate, the Great Barrier Reef, water supplies, biodiversity and its reputation!