Pablo Brait, campaigner from campaign group Market Forces, said: “With more and more insurers turning their backs, Adani has an obligation to explain to its shareholders and business partners how it will insure the risky Carmichael coal project for the decades it intends to run it.
“TMK’s promise means all 10 of the biggest Lloyd’s insurers are now committed to not insuring the disastrous Adani Carmichael coal project.
“Significantly, the wording of TMK’s statement implies it is an existing insurer, which, if true, would make this commitment a significant blow to Adani’s controversial plans.
“Now, Tokio Marine must urgently extend this commitment across its entire business and expand it to cover all fossil fuels. If it doesn’t, then it has not yet finished the job.
Pablo Brait, campaigner from campaign group Market Forces, said: “With more and more insurers turning their backs, Adani has an obligation to explain to its shareholders and business partners how it will insure the risky Carmichael coal project for the decades it intends to run it.
“TMK’s promise means all 10 of the biggest Lloyd’s insurers are now committed to not insuring the disastrous Adani Carmichael coal project.
“Significantly, the wording of TMK’s statement implies it is an existing insurer, which, if true, would make this commitment a significant blow to Adani’s controversial plans.
“Now, Tokio Marine must urgently extend this commitment across its entire business and expand it to cover all fossil fuels. If it doesn’t, then it has not yet finished the job.