More Insurers Reject Australia Coal Project, Activists Say

By Irene Madongo (November 16, 2021, 2:07 PM GMT) -- The RSA Insurance Group and Conduit Re have joined a list of firms that have ruled out underwriting a coal mining project in Australia over environmental fears, green activist group Market Forces said on Tuesday.

The Carmichael coal mine project in Queensland is owned by Bravus Mining & Resources, which is a subsidiary of Indian conglomerate the Adani Group. The mine has been targeted by climate change activists, who have protested that it will pump out billions of tons of greenhouse gases into the atmosphere.

The business says mining 10 million tons of coal annually at Carmichael will produce 240,000 tonnes...

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