Chief Executive Officer, Lloyd’s of London,
1 Lime St, London,
16 February 2020
We are writing to you on behalf of SumOfUs' 137,400 activists who have already called on Lloyd’s of London to stop insuring and investing in harmful and climate-wrecking fossil fuel projects. SumOfUs is a community of over 20 million people from around the world committed to standing up for the environment and holding big corporations accountable. We join our activists to ask that you listen and act on their concerns.
From the pristine Caribbean waters of the Bahamas, to the precious and sacred lands surrounding the Adani coal mine in Australia and the tar sands Trans Mountain pipeline in Canada, Lloyd’s is insuring projects that are causing unprecedented destruction to our planet. Hundreds of thousands of people around the world are now asking you to take responsibility for your insurers: end market-wide support for the most controversial fossil fuel projects and align yourself immediately with a 1.5C trajectory.
People's power is gaining momentum. Each day, more and more concerned citizens are galvanized by the climate tragedies happening all around them, and they’re witnessing how Lloyd’s has been part of the problem and is failing to take much needed action.
SumOfUs, Insure Our Future, and the hundreds of thousands of people we represent are not backing down. Specifically, our 137,400 supporters have demanded that Lloyd’s make clear commitments to:
- End its ties with all new expansionary coal, oil and gas projects, especially those that risk exploiting vulnerable communities, such as the East African Crude Oil Pipeline.
- Withdraw from insuring the following projects: the Trans Mountain tar sands pipeline in Canada (85,439 signatures); the Adani Carmichael coal mine in Australia (11, 276 signatures); and the exploratory oil drilling by the Bahamas Petroleum Company (38,999).*
Seven years after the signing of the Paris Agreement, we are still on a trajectory of more than 3°C of global warming. Extreme weather events are becoming ever more frequent and serious, and every fraction of a degree above the 1.5°C threshold poses unprecedented risks to humanity and biodiversity – including you, your children, your business and your profits.
Under your leadership, we believe Lloyd’s can play a key role in taking climate action within the insurance industry. As an insurance leader, you can critically influence which fossil fuel projects and companies get insurance, and therefore which can go ahead and which can not. This is a great superpower. And with great power comes great responsibility.
Our growing movement is calling on you to take this responsibility seriously: listen to the science, put the planet before profits and end your support for fossil fuels.
Number of Individual Signatories
Thank you for your attention,
The SumofUs Members
SumofUs. 21 October 2020.
SumofUs. 16 July 2020.
SumofUs. 27 January 2021.
SumofUs. 17 February 2022.