MANILA. Filipino climate groups stage a protest rally at the Makati business district in Manila on March 1, 2024, to demand insurers of coal, oil, and gas projects to withdraw their support to fossil fuel companies.
MANILA. Filipino climate groups stage a protest rally at the Makati business district in Manila on March 1, 2024, to demand insurers of coal, oil, and gas projects to withdraw their support to fossil fuel companies. (Photo by Elmer Valenzuela)

Climate activists hit insurers of fossil fuel companies

FILIPINO climate activists have assailed the companies that insured coal, oil, and gas companies, saying they are “complicit in the harms being inflicted on people and the planet.”

"2023 was already the hottest year on record, and it could get worse. The insurance industry is guaranteeing a future with more wildfires, floods, droughts, and storms if it continues to insure fossil fuel companies and their projects,” said Lidy Nacpil, coordinator of the multi-sectoral group Asian Peoples' Movement on Debt and Development (APMDD).

“We urge them to put people and planet first over profits, respect human rights, and support the urgent transition from dangerous fossil fuels to renewable energy, " Nacpil added during a protest rally at the Makati business district in Manila on March 1, 2024.

The demonstration was of this year’s "Insure Our Future," a Global Week of Action being held in key cities around the world from February 26 to March 3.

“We urge them [big insurance companies] to put people and planet first over profits, respect human rights, and support the urgent transition from dangerous fossil fuels to renewable energy," the climate campaigners said in a statement to Sunstar Philippines.

Ian Rivera, national coordinator of the Philippine Movement for Climate Justice (PMCJ), maintained that these insurers “are silent enablers of the climate crisis by insuring fossil fuel companies and plants.”

“However, they are not being held accountable for the damage they caused to the communities and the crisis. It is time to put a spotlight on insurance agencies, to demand reparations, and to stop being part of the problem," he added.

Meanwhile, similar actions were conducted by APMDD member organizations in India, Bangladesh, UK, USA, Japan, South Korea, Switzerland, France, Peru, Colombia, Germany, and Africa. (SunStar Philippines)

Related Stories

No stories found.
SunStar Publishing Inc.
www.sunstar.com.ph