Right now the pressure is on Lloyds of London, where Adani hopes to find an insurer. People of faith can put the moral case for ruling out working on this mine project more clearly than most. We can make a real difference.
We know for a fact that the pressure on companies and contractors associated with Adani is working. To date more than 65 companies have ruled out working with them. They are finding it harder and harder to find finance and insurance. Hanwha ruled out further finance for Abbot Point on August 3, after Samsung ruled out any further funding for Adani under pressure from the School Strike for Climate movement. Then in late August at ARRCC's "Zoom Party", supporters contributed to pressure which saw two more Korean finance companies, Korean Investment & Securities and the Industrial Bank of Korea, rule out finance for Adani.
Another ARRCC "Zoom party" is planned for Weds, Sep 9 12.30 - 1.30 pm - targeting Lloyd's insurance companies. Details below.
Lloyds insurance companies
Lloyd's of London is not like other insurers. It operates as as a marketplace, where dozens of insurance companies all vie for business and share risk. It’s also famous as a place of last resort: where companies can find coverage for things that no one else will insure. And they charge handsomely for the privilege. Lloyd's have admitted to Market Forces that some of the insurers in their marketplace are currently providing insurance to Adani for this mine project.
Already two members of the Lloyd’s marketplace have backed out of negotiations to insure Adani - just at the mere threat of a campaign being waged against them.
At the moment it is not known which of the individual insurers in the Lloyd's marketplace are insuring Adani’s Carmichael Project. This is being investigated. There are 12 remaining insurers in the Lloyds marketplace that have yet to rule out working with Adani. There is a huge grassroots movement that is working on this. Here's how we can be most effective as people of faith.
Come to a Zoom Party and take action
On Wednesday September 9th at 12.30pm Sydney time we will be holding a ‘Zoom Party’ where people of faith can join one another online in making sure that Lloyds insurers get the message. You’ll get the choice of doing this in one of the following three ways:
- Emailing key decision makers in each company
- Phoning them directly
- Interacting with them on Twitter (for those who feel confident to do so).
It’s easy and no experience is necessary. We’ll guide you with every step. Do join us:
Wednesday September 9th
12.30pm Sydney time
Asking others from your faith community to join you
The best thing you can do is to ask a few other people from your faith community to get involved. Can you think of one or two people who feel strongly about the climate emergency?
You can always contact people from other congregations as well. There's no need to limit it to just your own. Get creative. Who could you ask? As long as they're people of faith, that's fine. Do ask them to join the Zoom Party.
Contacting CEOs and decision makers
If the Zoom Party doesn’t work for you, you can always contact the decision makers in these companies directly on your own time.. Here is a list of the names of the companies concerned and senior contacts at each one, including both direct phone numbers and email addresses.
Here is a sample email that you may wish to copy, paste and edit and adapt to your needs. Please email and call them and let them know your concern as a person of faith. And here are some things you may wish to say in a phone call.