Success: Insurance Withheld from New Coal Projects

Target: Liz Truss, Secretary of State for International Trade, United Kingdom

Goal: Praise the elimination of insurance for coal-fired power plants.

Major insurance firms have stopped offering insurance to new coal projects in Britain. Without this insurance, new plants and power stations using this dangerous pollutant are effectively dead in the water, resulting in a victory for opponents of climate change and those who signed this ForceChange petition. With the addition of US companies Axis Capital and Chubb and Australian insurers Suncorp and QBE, 17 of the world’s 35 largest insurance companies will now no longer cover coal.

Pete Bosshard, a campaign coordinator for the Unfriend Coal coalition, stated that he hopes that “within two to three years it will be so difficult to obtain insurance that most coal projects won’t be able to go forward.” Unfriend Coal includes 13 different environmental groups and marked its first success in 2017, when major financial and insurance companies divested themselves of nearly $20 billion in coal assets.

Now, the United Kingdom has taken another bold step forward and away from climate change, with coal concerns able to turn only to Lloyd’s of London and Asian insurance firms to cover their dangerous and outdated fuel. While there is still a long way to go in eliminating coal and healing the planet from its effects, this is a significant victory for that cause.

By making coal uninsurable and encouraging green energy, Britain is set to help change the world for good. Please sign below and praise the shift away from one of humanity’s most dangerous energy sources.

PETITION LETTER:

Dear Mrs. Truss,

The elimination of insurance for coal marks a great step forward for your country and you government. Coal is environmentally unsound, dangerous, and unhealthy, and opening new coal-fired plants would be completely inconsistent with the UK’s commitment to combating climate change and pollution. The shortened list of insurers willing to cover coal projects, while far from complete, will encourage stronger economic growth and jobs, along with a cleaner environment, by redirecting industries towards green energy and sustainable economic activity.

Coupled with government initiatives like the National Energy Foundation and the Carbon Trust, the future of both Britain and the world is made brighter by making coal uninsurable and instead adopting solar, wind, and nuclear energy production. It is vital that you and your government continue to lead government programs and to work with the private sector to move away from unsustainable practices.

Congratulations on this excellent step to a brighter, cleaner future.

Sincerely,

[Your Name Here]

Photo credit: Kristian Buus


One Comment

  1. Justin Recht says:

    Fantastic News!
    Thank you!

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