Coal imports to rise? #StopAdani protests against insuring Australian coal project

By Our Representative

Even as Adani Australia, subsidiary of India’s powerful industrial group, Adanis, welcomed the Minerals Council of Australia’s economic report from the Commodity Insights, which projects that thermal coal imports to the Asia Pacific region rising by 275 million tonnes through to 2030, climate protesters stepped up #StopAdani campaign, including online, in different parts of the world against insurance companies insuring the Adani coal project in Australia.
Protesters took out a rally against the insurance giant Lloyd’s of London HQ, and campaigners delivered giant postcards bearing messages from Australians and Pacific Islanders calling on Lloyd’s of London to stop insuring the Adani coal project in the Queensland state of Australia, reports Melbourne-based media portal South Asia Times (SAT).
According to SAT, the action in London has kicked off a global wave of protests to pressure Lloyd’s of London to follow the lead of 26 major insurance companies, including several Lloyd’s syndicates, and stop insuring Adani’s Carmichael coal project.
Claudia Lang of the #StopAdani campaign said: “Lloyd’s of London is profiting from climate destruction by providing morally bankrupt companies like Adani with insurance. Adani’s climate-wrecking coal project is a reputational disaster for companies who associate with it, that’s why 24 major insurers have taken a stand and publicly ruled out insurance for Adani: Lloyd’s must follow their lead and stop insuring Adani.”
Meanwhile, in a media release, CEO of Adani Mining David Boshoff said the Commodity Insights report reflected Adani’s own projections, especially for India, which is expected to see thermal coal imports grow by 74 million tonnes through to 2030.
“India is one of the largest populations in the world and it is growing rapidly. Right now more than 200 million people in India do not have adequate access to electricity and thermal coal imports will continue to rise in order to meet the demand for this growing population with economic ambition,” Boshoff said.
“Despite an expected increase in renewable energy use in India and Asia, there will still be demand for thermal coal to provide baseload power”, he insisted, adding, “As the world’s number one international solar company and the largest private supplier of thermal electricity in India, the Adani Group has a unique view of the market and we see there will be a demand for both in the energy mix.”

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