Activists urge insurers to cut ties with fossil fuels in London protests
Thousands gathered in London to demand that insurance companies stop underwriting fossil fuel projects, emphasizing their pivotal role in the climate crisis.
Keerti Gopal reports for Inside Climate News.
In short:
- Protesters, led by Extinction Rebellion, targeted insurers like Lloyd's of London and Marsh McLennan, urging them to halt support for oil, gas and coal developments.
- Activists used creative tactics, such as a mock auction of "the world's last potato," to illustrate the human and economic toll of climate inaction.
- Campaigners pointed to small wins, like policy changes by Zurich Insurance Group, while decrying slow industry-wide progress.
Key quote:
“The weak spot of the fossil fuel industry is insurance. If we can persuade as many insurers as possible to pull out of these projects, we have a real chance of actually stopping those projects, and that’s ultimately what the goal is.”
— Marijn van de Geer, Extinction Rebellion activist
Why this matters:
Insurance underpins fossil fuel development, making the industry a critical target for climate activists. Without insurance, new oil and gas projects cannot proceed, potentially curbing global emissions and mitigating climate-driven disasters.
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