XR Floods Are Right here – Don’t Insure Fossil Fuels: On Monday twenty eighth Oct 2024 Extinction Rise up started three days of motion in London demanding that insurers finish supplying insurance coverage to fossil gasoline initiatives. This was part of per week of motion with protests happening across the nation and of a worldwide marketing campaign, ‘Insure Our Future‘.
On October 14th XR despatched an ultimatum to senior executives in any respect the UK-based insurance coverage corporations who insure local weather breakdown telling them that except they made “a pledge to get out of latest oil, coal and gasoline” they’d face non-violent direct motion and protests.
“Insure Our Survival spokesperson Steve Tooze stated: “The insurance coverage trade has the facility to cease the fossil gasoline trade in its tracks by withdrawing the insurance coverage that protects them from enormous monetary losses when issues go flawed in a high-risk trade.
“At the moment, insurers are refusing to make use of that energy. As an alternative, they’re selecting to wager on earnings from underwriting oil, gasoline and coal initiatives which can be accelerating the local weather disaster to ranges that would destroy our civilisation in our lifetimes.
“In impact, Insurers are insuring the worst individuals on the planet to dig up extra fossil fuels that trigger excessive climate and flood our houses. Then they’re charging us an increasing number of to insure our houses towards the growing danger of flooding. “
The letter, additionally revealed on-line, identified that one of the revered local weather analysis establishments on the planet the Potsdam Institute had simply issued a damning report which made clear we had been dealing with a worldwide emergency and “very material of life on Earth is imperilled.” They level out that international fossil gasoline combustion and industrial processes account for roughly 90% of the carbon dioxide and “and different greenhouse gases are the first drivers of local weather change.”
With out insurance coverage, new fossil gasoline initiatives couldn’t go forward. At the least one insurance coverage firm, Zurich Insurance coverage, instantly introduced that hey would not insure new oil and gasoline initiatives.
Monday’s protest theme was ‘The floods are right here!‘ and this protest got here the day earlier than it was sadly demonstrated how true this was when “torrential rain … introduced over a 12 months’s value of precipitation to a number of areas in southeastern Spain, together with the Valencian Neighborhood, Castilla–La Mancha, and Andalusia.”
A number of hundred XR protesters met at Tower Hill at 11am and set off to march across the Metropolis of London to stage protests exterior insurance coverage workplaces. Some wore southwesters and had been carrying a pink inflatable boat, with others wore white hazard fits and held ‘CLIMATE CRIME SCENE’ police tapes.
Among the many insurers the march focused had been Allianz and Lloyds and there have been smaller teams picketing Hiscox which is supporting the the EACOP East Africa Crude Oil ‘carbon bomb’ pipeline and AXA.
Away from the march supporters Scientists for XR entered the foyer of the insurance coverage trade’s regulatory physique, the Prudential Regulation Authority. The march ended with a die-in within the open space subsequent to St Mary Axe, dealing with Lloyds and subsequent to the Leadenhall Constructing.
Extra photos at XR The Floods Are Right here motion.
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Tags: Allianz, AXA, Metropolis of London, local weather change, local weather instability, die-in, Do not Insure Fossil Fuels, EACOP, Extinction Rise up, floods, fossil gasoline initiatives, fossil fuels, international warming, Hiscox, insurance coverage, insurance coverage corporations, insure our survival, Lloyds, London, march, new oil and gasoline, non-violent direct motion, peter Marshall, Potsdam Institut, protest, Spanish floods, cease local weather crime, cease fossil fuels, XR, Zurich Insurance coverage
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