Quakers urge insurers to protect world's most biodiverse seas
Quakers in Britain has joined a global campaign urging insurers to stop covering fossil fuel projects in the Coral Triangle, one of the most ecologically vital marine regions on Earth.
The Coral Triangle is a vast stretch of ocean spanning six countries across Southeast Asia and the Pacific, home to three-quarters of all known coral species.
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We urge insurers to listen to their conscience, and to ours
- Tanya Jones, Quakers in Britain
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The letter, signed by more than 70 organisations from around the world, including Insure Our Future, Greenpeace and 350.org, urges 30 leading insurance and reinsurance companies to end their underwriting of oil and gas projects in the region.
The Coral Triangle covers the coasts of Indonesia, Malaysia, Papua New Guinea, the Philippines, the Solomon Islands and Timor-Leste.
It is home to three-quarters of all known coral species and supports the livelihoods of more than 360 million people.
There are currently 113 oil and gas fields operating in the area. Plans exist to build at least 27 more LNG terminals, many near UNESCO World Heritage Sites and protected marine areas.
Campaign groups warn that expansion threatens the region's reefs, mangroves and seagrass beds. These provide vital coastal protection for communities in typhoon-prone areas.
Tanya Jones, climate justice lead for Quakers in Britain said: "Our faith calls us to live with integrity and to care for the whole of creation.
“When insurers underwrite new fossil fuel projects in places of irreplaceable natural beauty and biodiversity, they become part of a chain of harm to communities, to wildlife, and to our shared climate.
“We urge insurers to listen to their conscience, and to ours."
The letter calls on (re)insurers including Aviva and Tokio Marine to agree binding exclusions on coverage for new fossil gas projects in high-biodiversity and protected areas.
It also demands stronger protections for the rights of indigenous peoples.
Insure Our Future's Isabelle L'Héritier warned that reinsurers are "actively amplifying" systemic risk. She called on the sector to redirect support towards renewable energy instead.
Join people from across the world to fight for the future of the Coral Triangle