Lloyd’s of London still stuck on coal

Reclaim Finance criticizes Lloyd’s of London for maintaining a coal policy that allows new insurance cover for coal plants and thermal coal mines until January 2022, potentially enabling projects like the Whitehaven mine in England and Adani’s Carmichael project in Australia. The author highlights gaps in the policy, specifically the lack of exclusions for coal transport infrastructure and coal developers, and argues that the 30% revenue threshold for phasing out thermal coal by 2030 is too high and too slow compared to other European insurers.

• Lloyd’s of London's current policy allows for new insurance coverage of thermal coal mines and coal plants until January 2022, which the author claims provides time for syndicates to support the start of new projects.
• The document identifies two major gaps in the Lloyd's coal policy: it fails to exclude coal developers and does not cover coal transport infrastructure, such as railways and export terminals, which are essential for new mine development.
• Lloyd’s has committed to phasing out insurance for companies that get more than 30% of their revenue from thermal coal by 2030, but the author asserts this threshold is too high and the timeline is too slow.
• Specific projects identified as potentially eligible for coverage through Lloyd's syndicates include the Whitehaven coal mine in England and Adani’s Carmichael project in Australia.

APA

admin (2021). Lloyd’s of London still stuck on coal. Reclaim Finance. https://reclaimfinance.org/site/en/2021/05/19/lloyds-of-london-still-stuck-on-coal/

Chicago

admin. Lloyd’s of London still stuck on coal. Reclaim Finance, 2021. https://reclaimfinance.org/site/en/2021/05/19/lloyds-of-london-still-stuck-on-coal/.

Wikipedia

{{cite press release |last1=admin |title=Lloyd’s of London still stuck on coal |publisher=Reclaim Finance |date=19 May 2021 |url=https://reclaimfinance.org/site/en/2021/05/19/lloyds-of-london-still-stuck-on-coal/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2021lloyds, author = {admin}, title = {{Lloyd’s of London still stuck on coal}}, publisher = {Reclaim Finance}, year = {2021}, month = may, url = {https://reclaimfinance.org/site/en/2021/05/19/lloyds-of-london-still-stuck-on-coal/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }