Climate protesters spilled a 1,000 liters (220 gallons) of fake oil outside Lloyd’s of London Friday, part of a campaign to draw attention to the finance industry’s financing of fossil fuels.
The activists were protesting the insurance marketplace’s underwriting of fossil-fuel projects, including a tar sands pipeline in Canada. Police arrested one protester for criminal damage after Insurance Rebellion dumped the plant- and water-based liquid onto the street outside Lloyd’s from the back of van.
The actions are part of a global day of protests timed to raise awareness of finance’s role in climate change ahead of the COP26 climate summit in Glasgow. While some finance firms are pledging themselves to net zero targets, with some lenders divesting from fossil fuel extraction and others funding projects that could slow or reduce carbon emissions, protesters want a total and immediate cessation of funds for fossil fuels.
Swedish environmentalist Greta Thunberg is expected to join a march through the City of London this afternoon alongside representatives of Pacific countries most effected by climate change. Standard Chartered Plc and Barclays Plc are among the lenders being targeted Friday afternoon, according to a press release.
–With assistance from Jessica Shankleman.
Photograph: Fake oil outside Lloyd’s of London, on Oct. 29, protesting the insurance market’s underwriting of fossil-fuel projects . Source: Bloomberg