Adani (controversial sponsor at the Science Museum) sits among the largest corporations on the globe, with huge fossil fuel interests including the Carmichael coal mine in Australia.
As part of their campaign targeting the financing of fossil fuels, Money Rebellion commissioned us to make this film of a recent protest in London.
The protest took place last week (29th June) at the new Leadenhall Street offices of Lloyd’s insurance syndicate, Probitas1492, which seemed to be going against the spirit of a Lloyd’s of London announcement to scale back insuring thermal coal mine and coal power projects.
Struggling to find cover for the Carmichael mine and already several years behind schedule, Adani is self-insuring the mine itself, but Probitas was still in the running to insure the rail transport from the mine to the port, which traverses sacred land belonging to the Wangan and Jagalingou Indigenous people. The mine is already accused of draining huge amounts of precious groundwater from the Doongmabulla Spring on their lands. Campaigners believe that without the transport insurance, the whole project could be at risk.
The mine itself is set to produce enough coal to add around 4.6 billion tonnes of carbon emissions to the atmosphere, and is widely described amongst environmentalists as a ‘climate bomb’. There are also fears for the fragile Great Barrier Reef from the huge increase in shipping transport to and from the coal port at Abbot Point.
Money Rebellion have been highlighting these issues for some time, including a picket of the Lloyd’s AGM at the end of May, and a Valentine’s video message from the head of the Waddananggu tribe, signed by thousands of supporters around the world.
At last week’s die-in protesters played a recording of the Waddananggu message, and read out their letter to Probitas CEO Ash Bathia asking them “to rule out insuring any of the climate-wrecking Adani Carmichael Coalmine Project”.
This week, activists received an official response from the syndicate, which has also been widely reported in trade press, confirming that Probitas “ceased to provide insurance for the Adani Coal Mine at the end of last year, and will also not provide any insurance support in the future for any ancillary or associated activities, including the trainline, once the existing policies expire in the next quarter.”
This is seen as a huge victory, as Probitas joins more than 100 major companies pledging not to work with Adani. The world’s largest broker, Marsh McLennan pulled away from Adani last year, and another top-10 global broker, Lockton, have just bowed to campaign and staff pressure announcing their withdrawal from any Adani deal.
After being told the news, the Wangan and Jagalingou Cultural Custodian GurridyulaGaba Wunggu sent this message “Probitas1492 has made the right decision – this shows the strength and determination of everyone who played their part in forcing their hand. This is also a message to all other Adani financiers and insurers – we are coming for you too and we will not stop until you pull out from Adani. This has been the homeland of our people for millennia. Any insurer or financier still backing Adani is complicit in the destruction of Wangan and Jagalingou homelands and the ethnic cleansing of our culture and people. Don’t underestimate our determination. We plan to be here until Adani is forced to abandon this project, so we can watch them pack up and leave our homelands for good.”
Thanks to Coal Action Network for additional research.