Hello John
No insurance, no fossil fuels. It’s that simple. Fossil fuel projects need three things to operate: permits, money and insurance. Insurers give companies like Shell, BP and ExxonMobil the ability to drill as the planet burns.
Learn more in this two minute explainer video from Mothers Rise Up.
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The good news is that things can change. Just 20 companies insure 70% of the world’s fossil fuel industry, so moving just a few key players could have a huge impact. In fact, it already has:
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- New coal power plants are virtually uninsurable. For example, nearly 50 insurers have said no to the Carmichael coal mine in Australia after sustained campaigning by climate movements
- Many firms have said they won’t insure the East African Crude Oil Pipeline (EACOP) in the face of growing protests
- Rising insurance costs are one of the main blockers for new oil fields in the UK (Cambo) and Canada (Bay du Nord)
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Now let’s push the rest to catch up! Join us from Monday 26th February in London and across the UK, as part of a global week of action. Save the date.
Love and courage,
XR UK
PS Want to learn more about insurance and the climate crisis? This webinar on 15th February is for you.
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