• About
    • Which Energy Mix is this?
  • Climate News Network Archive
  • Contact
The climate news that makes a difference.
No Result
View All Result
The Energy Mix
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
SUBSCRIBE
DONATE
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
SUBSCRIBE
DONATE
No Result
View All Result
The Energy Mix
No Result
View All Result
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
  FEATURED
SPECIAL REPORT: ‘Defuse the Climate Time Bomb’ with Net-Zero by 2040, Guterres Urges G20 March 20, 2023
Devastating Impacts, Affordable Climate Solutions Drive IPCC’s Urgent Call for Action March 20, 2023
Window for 1.5°C ‘Rapidly Closing’, IPCC Warns March 20, 2023
Swift Action, Inclusive Resilience Vital in Face of Overlapping Climate Hazards March 20, 2023
Shift from Fossils to Renewables is Quickest, Cheapest Path to Cut Emissions, IPCC Report Shows March 20, 2023
Next
Prev

Pressure Builds on Trans Mountain’s Biggest Insurer After Two Others Step Away [Sign-On]

July 9, 2020
Reading time: 2 minutes

Logga Wiggler/Pixabay

Logga Wiggler/Pixabay

54
SHARES
 

Insurance companies are emerging as the latest focus in the continuing fight to stop construction of the Trans Mountain pipeline.

After the Supreme Court of Canada rejected a bid by three British Columbia First Nations to appeal the federal government’s re-approval of the controversial project, the communities made it clear they didn’t consider the matter closed. “Our decision to reject the project…will not be altered by a decision from the Canadian courts,” Tsleil-Waututh Chief Leah George-Wilson said last week. “We are not deterred.”

  • Be among the first to read The Energy Mix Weekender
  • A brand new weekly digest containing exclusive and essential climate stories from around the world.
  • The Weekender:The climate news you need.
Subscribe

Now, the heat is on the insurance companies that have given the project the financial assurance to proceed. Last week, Stand.earth reported that German insurer Talanx had stepped away from the project, after reinsurance giant Munich Re signalled its intention to withdraw earlier in the year. And Leadnow is running a petition campaign to make the pipeline’s biggest underwriter, Zurich Insurance, the next to go.

“Insurers for the pipeline are already dropping like flies,” and “if Zurich rejects Trans Mountain’s request to renew their insurance, too, it could convince other insurers that the project is simply too risky to support. It would leave Trans Mountain scrambling to find coverage—and might just be enough to stop the project in its tracks,” Leadnow writes.

“But the deadline to renew is only a few weeks away—which means we have no time to lose if we’re going to convince Zurich’s advisors to drop Trans Mountain.”

Last week, Talanx and Munich Re laid out their positions in correspondence with Stand:

“As a matter of principle, Talanx no longer invests in companies that derive more than 25% of their revenue or generate more than 25% of their power from coal. In addition, oil sands have been added to the list of exclusion criteria for both investments and underwriting.”

“Munich Re has a policy on oils sands in place, covering both investments and insurance. We no longer insure the extraction of oil sands or related dedicated infrastructure on a single risk basis. And we do not invest in companies that generate >10% of their revenue from oil sands extraction.”



in Canada, Climate Action / "Blockadia", Pipelines / Rail Transport

The latest climate news and analysis, direct to your inbox

Subscribe

Related Posts

Secretariat of the Cabinet of Ministers of Ukraine/Wikimedia Commons
Finance & Investment

IPCC Report Charts a Course for Ottawa’s ‘Clean Technology’ Budget

March 20, 2023
61
EcoFlight
First Peoples

Historic Deal Reopens B.C. Indigenous Territory to Fracking, Promises Land Restoration

March 19, 2023
426
Wikipedia
Climate Denial & Greenwashing

Fossil Funding Makes Indigenous Resource Network a ‘Propaganda Machine’, Opponent Says

March 19, 2023
68

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Trending Stories

IFRC Intl. Federation:Twitter

Devastating Impacts, Affordable Climate Solutions Drive IPCC’s Urgent Call for Action

March 20, 2023
656
U.S. Bureau of Safety and Environmental Enforcement/flickr

Willow Oil Project in Alaska Faces Legal Challenges, Economic Doubts

March 19, 2023
345
Kern River Valley Fire Info/Facebook

SPECIAL REPORT: ‘Defuse the Climate Time Bomb’ with Net-Zero by 2040, Guterres Urges G20

March 20, 2023
119
@davenewworld_2

Keystone Pipeline Safety Worries Lawmakers after TC Energy Ordered to Reduce Operating Pressure

March 19, 2023
242
Rebecca Bollwitt/flickr

Fossils Stay ‘Oily’, Gibsons Sues Big Oil, U.S. Clean Energy Booms, EU Pushes Fossil Phaseout, and Fukushima Disaster was ‘No Accident’

March 14, 2023
331
EcoFlight

Historic Deal Reopens B.C. Indigenous Territory to Fracking, Promises Land Restoration

March 19, 2023
426

Recent Posts

U.S. National Park Service/rawpixel

Window for 1.5°C ‘Rapidly Closing’, IPCC Warns

March 20, 2023
39
FMSC/Flickr

Swift Action, Inclusive Resilience Vital in Face of Overlapping Climate Hazards

March 20, 2023
35
Kenuoene/pixabay

Shift from Fossils to Renewables is Quickest, Cheapest Path to Cut Emissions, IPCC Report Shows

March 20, 2023
57
Secretariat of the Cabinet of Ministers of Ukraine/Wikimedia Commons

IPCC Report Charts a Course for Ottawa’s ‘Clean Technology’ Budget

March 20, 2023
61
Kiara Worth, UNClimateChange/flickr

Gap Between IPCC’s Science, National Actions Sets Challenge for COP 28

March 20, 2023
37
Photo by IISD/ENB

IPCC Sees Deeper Risk in Overshooting 1.5°C Warming Threshold

March 20, 2023
23
Next Post
Bill Gabbert/Wildfire Today

PTSD is the Invisible, Life-Threatening Injury for Wildland Firefighters

The Energy Mix - The climate news you need

Copyright 2023 © Energy Mix Productions Inc. All rights reserved.

  • About
  • Contact
  • Privacy Policy and Copyright
  • Cookie Policy

Proudly partnering with…

scf_withtagline
No Result
View All Result
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities

Copyright 2022 © Smarter Shift Inc. and Energy Mix Productions Inc. All rights reserved.

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}