Le géant de l’assurance Marsh sous le feu des critiques pour son rôle dans un projet pétrolier controversé
Inclusive Development International (IDI) et 10 organisations de défense des droits de l’homme et de l’environnement en Ouganda et en Tanzanie, qui préfèrent rester anonymes par crainte de représailles, ont déposé aujourd’hui une plainte auprès du gouvernement américain, alléguant que le géant de l’assurance Marsh, basé à New York et membre du groupe Marsh McLennan, […]
Insurance giant Marsh under fire over role in controversial oil project
Inclusive Development International and 10 human rights and environmental organizations in Uganda and Tanzania, which are remaining anonymous due to fear of reprisals, filed a complaint to the U.S. government today alleging that New York-based insurance giant Marsh, a member of the Marsh McLennan group, violated international guidelines for responsible business conduct by serving as […]
TotalEnergies’ East African pipeline breaches international environmental and human rights standards
A new report assessing the East African Oil Pipeline (EACOP) and associated oil fields against internationally recognized environmental and human rights standards for financial institutions finds numerous violations, putting banks at risk if they sign on to support the project. The assessment, undertaken by the Africa Institute for Energy Governance (AFIEGO), Inclusive Development International (IDI) […]
Top Dutch Asset Manager drops Total over East African pipeline project
Dutch asset management company, ACTIAM, confirmed this week in an interview with The Guardian that it pulled all investments from TotalEnergies and placed the company on an exclusion list over concerns about its controversial East African Crude Oil Pipeline (EACOP) project. ACTIAM is among the top ten Dutch asset managers and had nearly $4 million […]
Allianz becomes 7th insurer to reject the East African Crude Oil Pipeline
Watchdog Slams World Bank Group for Helping Bankroll Philippines Coal Boom
MANILA, Philippines – The World Bank Group’s private lending arm, the International Finance Corporation (IFC), violated its own environmental and social protection policies as it helped bankroll a disastrous coal boom in the Philippines, according to an independent investigation made public today. In its report, the IFC’s internal watchdog, the Compliance Advisor Ombudsman (CAO), calls […]
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 […]
Bowing to public pressure, Rizal becomes first bank in Philippines to exit coal
Rizal Commercial Banking Corporation (RCBC) made the announcement after years of pressure from climate activists in the Philippines and an investigation of the bank’s practices by one of its most prominent shareholders, the World Bank Group’s International Finance Corporation. “[N]o more coal. I’ll say that slowly: no more coal,” said the bank’s president and CEO, Eugene Acevedo, at […]