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



(Reuters) – Major Lloyd & # 39 ;s London insurer Brit will not insure Adani Enterprises & # 39; Carmichael's Carmichael thermal coal mine, it said on Tuesday, adding to a growing list of Lloyd & # 39 ;s insurance companies that have made similar promises.

Carmichael has provoked controversy. in Australia with its plan to open a new thermal coal basin in a time of growing concern over global warming, in a region in need of jobs.

"Brit does not, has never and will not write any policy directly related to the Adani Carmichael coal mine itself," Brit said in an email.

"Brit also confirms that it does not plan to renew any risks with other works directly associated with the project. "

Twenty-six Lloyd's syndicates have now said they will not insure the mine under the Insure Our Future action group.

Adani has started building in Carmichael together with an associated railway project with plans to start producing 1

0 million tonnes of coal per from 2021.

The coal industry is in focus for its higher greenhouse gas emissions than crude oil.

Many insurers, especially in Europe, have withdrawn from insuring hot coal, but Lloyd & # 39 ;s of London insurance companies has continued to do so, say industry sources.

This is likely to change after Lloyd & # 39 ;s issued its first climate strategy to its 100 syndicate members in December 2020 and completed its previous practical strategy on the issue.

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