Lloyd’s of London AGM
Thursday 19 May
Lloyd’s provides insurance and reinsurance that supports and enables some of the world’s worst fossil fuel projects including coal mines, tar sands pipelines, and new oil & gas exploration.
Their business plans are incompatible with keeping climate change under 1.5°C. In total, Lloyds insures 40% of the world’s energy. These practices are far from new. Lloyd’s has a long racist colonial past. Its wealth was built off insurance of the trans-Atlantic slave trade, on which it held a monopoly until abolition. Today, Lloyd’s continues to profit from underwriting projects that sacrifice Indigenous, Black, and brown communities on the frontlines of fossil fuel extraction and the climate crisis.
One project in particular stands out for its destructiveness and abuse of human rights. The TransMountain Expansion Pipeline in Western Canada cuts across the Lands of multiple Indigenous nations that are fiercely opposed to it. Arrests continue to be made to force it through. Led by Traditional Owners' people across the world have been pressuring insurance companies, and so far 16 insurers have cut ties with TransMountain.
At Lloyd's AGM on the 9th May we will stand in solidarity with Land Defenders trying to #StopTMX and demand Lloyd's rule out insuring the project.