AustralianSuper: Call on Marsh to rule out Adani!

Adani’s coal project still needs insurance for critical parts of the project. Marsh are Adani’s insurance brokers, and they have been trying to find insurance for Adani’s coal project.

Thanks to pressure from the #StopAdani movement, Marsh executives are reviewing their ‘global position on coal’ for presentation at their Annual General Meeting on 21st May.

New intel has uncovered that AustralianSuper, the biggest superannuation fund in Australia, is a major shareholder in Marsh! Shareholders can meet with companies they own holdings in. We want AustralianSuper to let Marsh know that they must walk away from Adani!

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Adani’s coal project still needs insurance for critical parts of the project. Marsh are Adani’s insurance brokers, and they have been trying to find insurance for Adani’s coal project.

Thanks to pressure from the #StopAdani movement, Marsh executives are reviewing their ‘global position on coal’ for presentation at their Annual General Meeting on 21st May.

New intel has uncovered that AustralianSuper, the biggest superannuation fund in Australia, is a major shareholder in Marsh! Shareholders can meet with companies they own holdings in. We want AustralianSuper to let Marsh know that they must walk away from Adani!

Send AustralianSuper an email letting them know that you’d like them to engage with Marsh and advise Marsh to stop helping Adani find insurance for their destructive project.

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Re: Call on Marsh to rule out Adani

Adani’s climate-wrecking coal project still needs insurance for critical parts of the project. Marsh are Adani’s insurance brokers, and they have been working to find insurance for Adani’s Carmichael coal project. By helping Adani find insurance, Marsh are enabling this destructive coal project to proceed.

However, it has been reported in The Guardian that Marsh are formulating ‘a new global position on coal projects’, presumably for presentation at their AGM on May 21st. [1] It’s vital that this new position includes ruling out work on Adani.

AustralianSuper are significant shareholders in Marsh & McLennan Companies, the parent company of Marsh. Hence, I am writing to you, calling on AustralianSuper to engage with Marsh & McLennan Companies and advise them to ensure that their ‘new global position on coal projects’ includes ruling out Adani’s coal project.

Adani’s plans to export coal from the Galilee Basin in Queensland must be stopped.

The proposed Carmichael coal project poses numerous environmental risks, including the depletion of groundwater, increased particulate air pollution along the transport and shipping corridor, as well as in the region where the coal is burned, and increased industrialisation of the Great Barrier Reef World Heritage Area as a result of larger shipping volumes.

Most critically of all, the world is on the brink of triggering runaway climate change, and the Paris climate change agreement struck in 2015 aims to hold global warming to below 1.5˚C above pre-industrial levels. Building a massive new thermal coal project is about the clearest example of what we need to avoid if we want a stable, liveable climate.

The Carmichael coal project has become one of the most controversial projects in the world, opposed by the majority of Australians with hundreds of thousands taking action through petitions or public activities to demonstrate their opposition.

Again, I urge AustralianSuper to engage with Marsh & McLennan Companies and advise them to ensure their new position includes ruling out Adani’s coal project.

References:
[1] https://www.theguardian.com/business/2020/mar/04/worlds-largest-insurance-broker-under-pressure-over-support-for-adani-and-other-coal-projects

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