THE ‘Insure Our Future’ network is a global coalition of NGO’s and social movements that is pressuring insurance companies to get out of the coal, oil and gas business and support the transition to clean energy.
The Coffs Coast Climate Action Group, as part of the ‘StopAdani’ movement, is part of this network, and has had a big campaign win with the insurance company Brit withdrawing its support for the Carmichael mine.
The StopAdani movement as a whole has been targeting the insurance industry to dissuade it from supporting the coal project.
Brit operates under the umbrella of Lloyds of London and is the sixth insurance company to stop underwriting Adani’s coal project.
As insurers increasingly turn their backs on the mine, Adani has to explain to its investors, bankers and contractors how it plans to deal with the significant risks that running a massive coal mine, rail line and port entail.
The Coffs group ‘adopted’ Brit Insurance last year in August and have been focused on them since then.
Members have been getting together for pizza nights to make phone calls and send emails to Brit staff, as well as other creative online tactics.
The small, but persistent, actions of ordinary local Coffs Harbour people have sent ripples through the global insurance and coal industries.
Local StopAdani campaigner, Liisa Rusanen said that about 20 other groups are working on insurance companies and the Coffs Harbour group focused on Brit.
“Any business that ignores climate risks is being environmentally and economically irresponsible,” she said.
Ms Rusanen highlighted the recent setback to Adani by recent floods and legal action by the Queensland government as a consequence, saying that this presents considerable economic risks for insurers.
She said the Coffs Coast Climate Action Group has set up a ‘Chuffed’ crowdfunding page to support their campaign.
“The actions of local groups can make a difference and the time for new coal is over,” Ms Rusanen said.
By Andrew VIVIAN