Printed from

NGOs urge insurers to stop insuring Australia’s Ichthys LNG project

Posted On: Oct. 6, 2022 9:34 AM CST

France-based Reclaim Finance and other climate non-governmental organizations have urged insurers, including Axa SA and Allianz SE, to refrain from providing insurance cover for the expansion of Australia’s Ichthys liquefied natural gas (LNG) project, The Bharat Express News reported citing Bloomberg. The climate NGOs said that insurers should adhere to their net-zero ambitions and not renew their coverage for the LNG project that emits an estimated 590 million tons of carbon dioxide.