Insurance next big hurdle for Adani’s proposed Carmichael coal mine in Australia

first_img FacebookTwitterLinkedInEmailPrint分享Global Mining Review:The Indian conglomerate Adani Group is trying to move forward with plans to build a massive coal mine in the Galilee Basin in Queensland (Australia). This project has been the object of years-long controversy in Australia and around the world. The toxicity of Adani’s proposed Carmichael coal mine – not just environmentally and socially, but reputationally as well – has made the project a base test of credibility for any global financial institution wanting to be taken seriously as a climate change risk manager.To date, over three dozen financial institutions have made commitments to not finance the project, and after spending nearly a decade in search of the funds, Adani finally announced in November 2018 that it had secured the billions of dollars necessary to build the mine. Who was the mysterious investor? Turns out it was the Adani Group itself. You can only imagine how desperate a company would need to be before committing to fund a project requiring billions of dollars off its own balance sheet after a years-long search for an investor.But the campaign over Adani’s Carmichael mine is far from over. Insurance is one area where Adani also needs financial support. In fact, insurance is a critical piece required to obtain government permits and start construction, and a growing campaign targeting insurers to accelerate the transition to a clean energy future has taken note.In December 2018, the Global Unfriend Coal campaign and allies – representing 73 organisations and a combined membership of more than 76 million people – sent a letter calling on 35 major global insurers to not insure the proposed Carmichael coal mine and associated infrastructure. Given the number of responses that were received within two weeks of sending the letter, the insurance industry is clearly feeling the pressure to avoid highly controversial coal projects.10 companies immediately responded to Unfriend Coal’s call to not insure the project, either explicitly stating their refusal to be involved or referencing existing coal restriction policies that applied in this case. These included the world’s biggest insurers and reinsurers, Allianz, AXA, Swiss Re and Munich Re; two of Australia’s largest infrastructure insurers, QBE and Suncorp; the first major US insurer to publicly rule out a coal project, FM Global; as well as major European insurers Generali, Zurich and SCOR. Since then, two additional companies have announced restrictions on coal underwriting that would rule out involvement with the mine: Mapfre and Uniqa.For the insurers that have not yet ruled out supporting Adani, the pressure is now building. Last month, lawyers at ClientEarth wrote to Lloyd’s warning them of the financial risks surrounding the project and warning: “Should you or your syndicates fail to take these factors into account as part of your risk management processes, this may constitute a breach of your legal duties.”More: Insurers shun Adani’s Carmichael mine, reflecting the industry’s retreat from coal Insurance next big hurdle for Adani’s proposed Carmichael coal mine in Australialast_img read more

Caribbean Zika Response & Preparedness Goes to Boetica & Delice

first_img Tweet Share The Dominica Red Cross continues with its Caribbean Response and Preparedness Project aimed at preventing and responding to the Zika virus disease. The Society is focused on reaching the public through improved community engagement, action and support, as well as to coordinate and share knowledge with other stakeholders. The key project interventions included Risk Communication, Community Clean-up Campaigns & Vector Control, School & Household Sanitation.It was all hands-on deck as the Dominica Red Cross Clean-up Campaign Mosquito Search and Destroy began in the Community of Boetica & Delice from January 17th – January 23rd, 2020. Environmental Health Officials, stakeholders, partners, vector control workers and Dominica Red Cross Delice Branch Volunteers turned out at the meeting point in Delice to intensify public awareness on Dengue, Chikungunya and Zika virus.Project Manager for Caribbean Zika Response & Preparedness Project Sylvester Jno Baptiste reiterated the reason for the Clean-up. “We continue to see an increase in mosquito breeding. It is crucial that we consistently search for and destroy mosquito breeding sites”.  The clean-up which has been executed in other communities is “aimed at motivating the public to get all Dominicans involves in the clean-up effort specifically destroying the breeding sites of the Aedes aegypti mosquito which spreads the dengue, chikungunya and Zika viruses and which is found in and around homes’ stated Jno Baptiste.Some of the stakeholders and partners who supported the clean-up included the Environmental Health Department, The Dominica Solid Waste Management Corporation and the Delice Village Council.– / 6 LifestyleLocalNews Caribbean Zika Response & Preparedness Goes to Boetica & Delice by: – January 28, 2020 56 Views   no discussionscenter_img Share Share Sharing is caring!last_img read more


first_img Comments   Share   Top Stories Part 2, I blame Jaws for what he told me on Thursday.Andrew Luck is so good, so NFL ready right now; he has toplay right away. He’s too good to sit.Suddenly the absurd speculation turns to a semi-logicaltimeline. The Colts, armed with the number one pick, standon the precipice of a new era. A new coach, new GM and newquarterback poised to shift into the next decade with verylittle down time in between. You’re not sure Manning ishealthy and what sense does it make to pay him $28 millionwhen you probably should be starting Luck anyway. Allyou’re doing is paying a lot of money to delay theinevitable. Now Manning is free. Show me anotheropportunity that provides the warmth, weather, facility,stability, style of offense and most importantly…LarryFitzgerald. Without him the Cardinals aren’t in theconversation. So for now I’ll enjoy the song even though I have nobusiness listening to it. Like George sang “All we have todo now is take these lies and make them true somehow…” Nevada officials reach out to D-backs on potential relocation D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ Everybody has at least one. Mine is George Michael’s“Freedom.”One song on your iPod that you’re embarrassed to own. Onesong that, when it blares out of your car stereo, up gothe windows.When George belts out “I won’t let you down…I will notgive you up” there is an internal acknowledgement; Ishould not have this song on my iPod/I cannot imagine myiPod without it. The talk about Peyton Manning to the Arizona Cardinals issimilarly equal parts shame and love. As irrational andspeculative as it is, I simply can’t rise above it. Ican’t stop thinking about it.On some level, I agree with Darren Urban who has written that it’s noteven worthdiscussing. He’s right. It’s absurd speculation. Likethatmovie “Inception” it’s a dream within a dream within adream. A healthy Peyton Manning getting cut by theIndianapolis Colts and wanting to play for the ArizonaCardinals. Yeah, sure. Sorry Leo, that top is going spinfor the rest of eternity. So why the fixation, beyond of course the pure desire thatI want it to be real? I blame Doug Franz and Ron Jaworski:Franz because he planted the seed of an idea. When CharlieCasserly reports the Manning camp hasn’t had anydiscussions with the Colts about his future the naturalfollow up question in that off-the-record chat is…wellwhere would he want to go if he isn’t with the Colts?Casserly tells a national audience that the Cardinals area dark horse candidate for Manning because somebody fromManning’s camp told him that. Casserly didn’t pluck theCards out of thin air. He was handed that information. What an MLB source said about the D-backs’ trade haul for Greinke Cardinals expect improving Murphy to contribute right awaylast_img read more