Lloyd’s insurer Brit says it will not insure Adani coal mine

SourceZawya
SectorOil & Gas
CountryMiddle east

LONDON- Major Lloyd's of London insurer Brit will not insure Adani Enterprises' Carmichael thermal coal mine, it said on Tuesday, adding to a growing list of Lloyd's insurers who have made similar pledges.Carmichael has provoked controversy in Australia with its plan to open up a new thermal coal basin at a time of growing concern over global warming, in a region that is in need of jobs."Brit does not, has never, and will not write any policies relating directly to the Adani Carmichael coal mine itself," Brit said in an emailed statement."Brit also confirms that it does not plan to renew any risks involving any other works directly associated with the project."Twenty-six Lloyd's syndicates have now said they will not insure the mine, according to action group Insure Our Future.Adani has begun construction at Carmichael together with an associated rail project, with plans to start producing 10 million tonnes of coal per year from 2021.The coal industry is in the...read more...