Without insurance, pipelines can’t be built. Fifteen insurance companies have already promised not to touch the toxic Trans Mountain tar sands pipeline. We have a chance this week to make it sixteen.
Trans Mountain is a giant tar sands oil pipeline that would be a disaster for our climate and violates Indigenous rights. If built, the pipeline would also result in a sevenfold increase in oil tanker traffic in the Salish Sea, pushing the area’s already endangered southern resident orcas even closer to extinction.
Chubb’s CEO Evan Greenberg is one of the few U.S. insurance executives who has been outspoken about the industry’s need to tackle the climate crisis, so we know the company is sensitive to its public image on climate.
Yet Chubb also increased its coverage for the Trans Mountain tar sands pipeline in 2020. Getting this company to fold would be a major blow for the struggling pipeline, but more public pressure is needed to make it happen.
Going after insurance companies may seem like an unusual strategy for stopping the Trans Mountain pipeline. But the momentum behind this campaign has been incredible.
Twelve months ago, Trans Mountain’s biggest insurer caved to public pressure and dropped the pipeline. Since then fourteen companies have followed suit. Now we’re approaching the crunch period for getting more insurers over the line, with the August 31st deadline for securing coverage just around the corner.
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