{"id":2222,"date":"2021-05-27T07:56:23","date_gmt":"2021-05-27T05:56:23","guid":{"rendered":"http:\/\/insureourfuture.co\/?p=2221"},"modified":"2021-05-27T07:56:23","modified_gmt":"2021-05-27T05:56:23","slug":"protest-aig-lloyds-tokio-marine","status":"publish","type":"post","link":"https:\/\/japan.insure-our-future.com\/en\/2021\/05\/27\/protest-aig-lloyds-tokio-marine\/","title":{"rendered":"Climate campaigners protest AIG, Lloyd\u2019s of London and Tokio Marine as coal insurers of last resort"},"content":{"rendered":"

Today, climate campaigners from across the world call on insurance giants AIG, Lloyd\u2019s of London and Tokio Marine to immediately stop insuring and investing in coal. The Insure Our Future network placed a full-page ad in the Financial Times calling out the insurance laggards as climate groups in Japan, South Korea, United States and the United Kingdom held both physical and digital actions demanding the three insurers \u201cInsure Our Future, Not Fossil Fuels\u201d.\u00a0<\/span><\/p>\n

\"2021-05-27<\/a><\/p>\n

Mobile billboard trucks circled the three insurer\u2019s offices in New York City and London, while campaigners gathered outside of the Tokio Marine offices in Tokyo and Seoul. At the same time, activists from around the world emailed the CEOs and other senior level executives with demands that they drop coal.\u00a0<\/span><\/p>\n

While 24 insurers have committed to stop insuring coal with immediate effect, AIG, Lloyd\u2019s of London and Tokio Marine continue to provide the insurance for this climate wrecking industry to operate. A groundbreaking <\/span>report<\/span><\/a> released this month by the International Energy Agency concludes that there is no room for any new coal, oil, or gas in a net-zero by 2050 pathway, and thus no longer any justification for insurance companies to support fossil fuel expansion.\u00a0<\/span><\/p>\n

Email these companies\u2019 executives and demand they stop giving coal a lifeline.<\/b><\/a><\/h4>\n

Lloyd\u2019s adopted a climate policy in December 2019, but it <\/span>allows for continued<\/span><\/a> insurance of existing coal, tar sands and Arctic energy projects until 2030, and has no plan to exit new oil and gas. Lloyd\u2019s market is insuring some of the world\u2019s dirtiest projects, including the Trans Mountain tar sands pipeline in Canada, the Adani Carmichael coal mine in Australia, and oil drilling in The Bahamas.<\/span><\/p>\n

\n
\n\t\t\t

Flora Rebello Arduini<\/h4>
Senior Campaigner at SumOfUs <\/div> <\/div>\n
\n\t\t\t

\"Lloyd\u2019s of London are the new masters of greenwash \u2014 putting out climate policies while continuing to prop up the world\u2019s worst fossil fuel projects. But they have the opportunity to prove us wrong. If they are at all serious about protecting the planet, Lloyd\u2019s needs to do what so many other insurers are doing and quit coal now.\u201d<\/p>\n <\/div>\n<\/div>\n

AIG is the largest insurer outside of China that has zero restrictions on coal underwriting. It is also one of the few companies willing and capable of insuring multi-billion-dollar coal projects. AIG has refused to drop the Trans Mountain pipeline, and has connections with the Adani Carmichael coal mine. AIG is also among the world leaders in insuring oil and gas projects.\u00a0<\/span><\/p>\n

\n
\n\t\t\t

East Peterson-Trujillo<\/h4>
Climate Campaign Coordinator at Public Citizen<\/div> <\/div>\n
\n\t\t\t

\"AIG enables fossil fuel extraction that pollutes our planet and our communities. In 2019, less than 1% of AIG's premiums were earned from coal, yet the corporation refuses to rule out underwriting coal projects. AIG has also invested at least $26 billion in fossil fuel companies, further compounding the company's devastating environmental impacts. It's beyond time for AIG to drop coal cover and phase out insurance for all fossil fuels.\"<\/p>\n <\/div>\n<\/div>\n

Tokio Marine\u2019s September 2020 coal policy \u201cin principle\u201d rules out insuring new coal projects, but <\/span>contains so many loopholes<\/span><\/a> that it enables any power project conceivable in the pipeline to receive insurance. <\/span>Tokio Marine is a top-10 insurer in the global coal as well as the oil and gas sectors, including in the \u2018emerging market\u2019 countries of Latin America, Southern\/Eastern Africa and Southeast Asia.\u00a0<\/span><\/p>\n

\n
\n\t\t\t

Yuki Tanabe<\/h4>
Program Director at the Japan Center for a Sustainable Environment and Society (JACSES)<\/div> <\/div>\n
\n\t\t\t

\"Tokio Marine has so far refused to rule out insuring new coal projects like the ones at Matarbari in Bangladesh and at Indramayu in Indonesia. Continuing to underwrite these projects will lock us all into a future reliant on the dirtiest fuel on the planet. Tokio Marine\u2019s Annual Investor Relations Conference is today -- what better time than now to commit to stop enabling any expansion of the global coal sector -- with absolutely no exceptions?\u201d<\/p>\n <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Today, climate campaigners from across the world call on insurance giants AIG, Lloyd\u2019s of London and Tokio Marine to immediately stop insuring and investing in coal. The Insure Our Future network placed a full-page ad in the Financial Times calling out the insurance laggards as climate groups in Japan, South Korea, United States and the …<\/p>\n","protected":false},"author":2,"featured_media":4839,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[36],"post_country":[53,58,66],"post_company":[18,7,50],"post_project":[],"class_list":["post-2222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\nClimate campaigners protest AIG, Lloyd\u2019s of London and Tokio Marine as coal insurers of last resort - Insure Our Future Japan<\/title>\n<meta name=\"description\" content=\"Campaigners call on insurance giants AIG, Lloyd\u2019s of London and Tokio Marine to immediately stop insuring and investing in coal.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/japan.insure-our-future.com\/en\/2021\/05\/27\/protest-aig-lloyds-tokio-marine\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Climate campaigners protest AIG, Lloyd\u2019s of London and Tokio Marine as coal insurers of last resort - 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