Insurers Should Shun Total Oil Project, Climate Groups Say

Law360, London (June 14, 2021, 2:23 PM BST) -- Leading insurers and reinsurers should not support a planned oil pipeline in East Africa amid concerns that the TotalEnergies SE project could harm the environment and displace local communities, according to climate activists.

Campaigners warn that businesses such as Aon PLC, Marsh Inc., Swiss Re Ltd. and Allianz SE should not back the project or take part in a tender for the proposed East African Crude Oil Pipeline. The tender calls for submissions of interest from reinsurance and insurance brokers by June 16, the activists said on Friday.

The campaigners, which include the Global Catholic Climate Movement and Reclaim Finance, a not-for-profit organization,...

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