The World’s Largest Insurer, Munich Re, Rejects EACOP
Hannover Re becomes 5th re/insurer to opt out of East African Crude Oil Pipeline
Hannover Re is the latest insurer to reject EACOP, joining Swiss Re, Axa, Zurich and SCOR in publicly committing that they will not underwrite the pipeline. Last week, after SCOR committed not to insure EACOP, Hannover Re quickly followed suit, stating, “we refrain from providing reinsurance coverage for EACOP due to noncompliance with our ESG […]
Global Insurance Firms Steer Clear of Total Energies’ Embattled East African Crude Oil Pipeline Project
As major insurers say no to providing coverage for the highly controversial East African Oil Pipeline (EACOP), the pressure is mounting on Munich Re, Lloyd’s of London and others that have yet to comment on their potential involvement. French multinational (re)insurance company SCOR is the latest global insurer to commit not to provide coverage for […]
World Bank’s Back Door Support for East African Oil Pipeline Imperils the Planet, Complaint Alleges
(Kampala) — Three organizations representing thousands of people in Uganda today filed a complaint against the World Bank for indirectly backing one of the world’s largest and riskiest oil developments. The planned East African Crude Oil Pipeline (EACOP) and Kabaale refinery, along with the associated development of oil fields on the shores of Lake Albert, […]
East African Crude Oil Pipeline: more banks to stay away from troubled Total project
Total defends the indefensible as investment decision is signed for a massive climate-destroying oil pipeline in East Africa
French oil company Total has been accused of ignoring significant human rights violations and huge environmental and climate risks as it pushed ahead yesterday with the signing of an investment decision to build the world’s longest heated crude oil pipeline through Uganda and Tanzania. Although the signing will likely see Total, the China National Offshore Oil […]