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Lloyd’s of London offices targeted in protest over company’s involvement in coal mining

OFFICES of insurance group Lloyd’s of London were targeted for a Britain-wide day of action today to demand an end to the company’s involvement in coal mining.

In a dozen locations including London, Manchester, Swansea and Bristol protesters called on Lloyd’s of London to stop helping the coal mining industry by insuring coal mines – including a planned new deep mine in West Cumbria in North West England.

The protests were backed by the Coal Action Network, which brings together environmental and direct action groups campaigning against coal mining because of the fuel’s contribution to global warming.

The Cumbria mining project has triggered local and national opposition. The mine would tunnel under the Irish Sea to extract coal for the steel industry.

The mine would be close to the Sellafield nuclear reprocessing and waste storage plant.

Coal Action Network claim that if the project goes ahead it will help lock the steel industry into burning coal and make a mockery of Britain’s climate targets.

It said that the protests were staged to mark the reopening of Lloyd’s of London offices after the coronavirus lockdown.

The group said that the firm’s specialist underwriters and insurance companies operate globally, underwriting and insuring about 40 per cent of the global energy market, much of which is based on fossil fuels.

Gaie Delap of XR Bristol Rebel Elders said: “No company should insure new coal mines.

“Greenhouse gas emissions from coal extraction cause catastrophic climate change across the globe, but also pollution and ill health to local communities.

“Proposals for the new mine in West Cumbria have no detailed assessment or plan to prevent contamination of the local water supply and the nearby marine conservation zone. 

“It is madness to provide insurance for these developments.”

Lloyd’s of London said that it will no longer provide new insurance cover for thermal coal-fired power plants, thermal coal mines, oil sands or new Arctic energy exploration activities from January 1 next year.

Its target date for phasing out the renewal of existing insurance cover for these types of businesses is January 1 2030.

Andrew Taylor from the Coal Action Network said: “Today we saw everyday people in every corner of the UK welcome Lloyd’s and its insurers back to the office with demands to stop putting profit over a liveable planet.”

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