While the rest of the world is at a standstill in response to COVID-19, the fossil fuel industry is ploughing full steam ahead with pipeline construction on projects like Keystone XL and Trans Mountain.
There is one thing that can still stop pipeline projects like Keystone and Trans Mountain in their tracks: Losing insurance.
Insurance giant Liberty Mutual is still providing crucial coverage for both the Keystone XL and Trans Mountain tar sands pipelines. But with the company’s annual policyholder meeting happening now, we have a critical window to act.
During this global pandemic and in spite of pleas from local elected officials and Indigenous leaders to not bring outside workers into their communities right now, Trans Mountain is still planning to drill under the Thompson River this month.
Right now, workers are on their way to the Keystone XL pipeline route to begin pre-construction, threatening the health and safety of local communities and First Nations.
Here’s the thing: tar sands pipelines are already risky clients for insurance companies, threatening Indigenous rights, waterways and the climate. But providing backing for fossil fuel companies that are continuing construction during a global pandemic is more than risky – it’s downright irresponsible.
We must ensure Liberty Mutual is forced to respond to these concerns during its annual policyholder meeting tomorrow. It’s way past time that Liberty Mutual gets out of the destructive tar sands sector, and the fossil fuel industry’s behaviour during this crisis has made that even more evident.
If Liberty Mutual rules out the tar sands sector and drops coverage of Keystone XL and Trans Mountain, it could halt these pipelines and put any new tar sands projects on watch.
Public pressure like this works. Eight insurance companies have already adopted policies on tar sands. It’s time to turn up the heat on Liberty Mutual.
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