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Anti-Adani protesters take campaign to Lloyd's

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Lloyd’s has confirmed it is “not involved currently in any way” with the Adani coal mine after activists against the central Queensland project staged a peaceful protest at its Sydney office last week.

Lloyd’s Corporation, which oversees the marketplace, stopped investing in coal-related assets in April last year.

“While coal and other hydrocarbons remain a substantial part of the global energy mix, we believe that Lloyd’s has a responsibility to help companies manage their risks and to ensure policyholders and the public are protected by paying claims when we need to,” a spokesman told insuranceNEWS.com.au.

“It is also perhaps worth noting that Lloyd’s supports sectors and technologies that are helping society transition to a low carbon economy such as the renewable energy and electric vehicle industries.”

Supporters from the Galilee Blockade group entered the Lloyd’s office holding banners. They were accompanied by Extinction Rebellion’s choir, which later sang several songs at the premises in support of their cause.

Anti-coal and other climate change groups have in the past few months taken aim at insurers, demanding the industry boycott the Carmichael mine owned by Indian conglomerate Adani Group.

“Most Australians do not support the Adani coal mine and we're confident that insurance companies with retail brands will keep away from Adani,” a spokesman for the Galilee Blockade told insuranceNEWS.com.au.

“In our first Lloyd’s protest, concerned citizens engaged Lloyd’s staff and the Extinction Rebellion choir sang them songs.”

Everyone left the office when asked by police, but the groups have warned they plan to seriously escalate their actions.

“We'll do whatever it takes to convince Lloyd’s to ban any provision of insurance for the [Adani project] in its marketplace,” the spokesman said. “This would exclude many insurance options of last resort for Adani and seriously threaten the viability of their project.”