Global action calls for a halt to financing for the East African oil pipeline

Global action calls for a halt to financing for the East African oil pipeline

Activists from 7 countries recognize March MacLennan for his role in the development of the East African oil pipeline. They claim that the insurance brokerage violates the OECD’s guidelines on corporate social responsibility.

Members of the #StopEACOP coalition held yesterday coordinated workday Insurance broker claim Marsh & McLennan Companies, Inc. Withdraw support for East African pipeline (EACOP, in its English abbreviation). Actions took place in London, Paris, New York and Brussels, MadridAnd Tokyo and Kampala in front of the company’s offices and across the networks. The activists’ goal was to have Marsh McLennan publicly justify his support for EACOP, and eventually, Withdrawal from the project.

For months now, climate justice NGOs, associations and activists have been focusing their attention on Marsh-McLennan, as it plays an essential role as insurance broker for the project. In February 2023, human rights and environmental groups It is based in Uganda, Tanzania and the United States File a formal complaint Claiming that Marsh was It violates the corporate social responsibility guidelines of the Organization for Economic Co-operation and Development By acting as an insurance broker for EACOP.

Total energy She is currently working to persuade investors to support the Uganda-Tanzania pipeline project. Actually, the movement # to stop has taken a major step forward by announcing another reprieve of EACOP funding. While in October 2022 the owners of a giant oil pipeline project led by TotalEnergies and China’s CNOOC in East Africa hoped to secure financing for the first quarter of 2023, a new “by the end of the year” deadline was announced, But Marsh McLennan is still on the project. Which is why activists around the world continue to pile pressure on the medium.

Standard Chartered Plc also announced that it would no longer fund the EACOP project. The decision, which came after mounting pressure from the #StopEACOP campaign, is particularly significant as the bank previously confirmed it was doing the necessary due diligence to fund the $5 billion project. In response to public pressure, this London-based bank made it clear that it would not be involved in the project.

What is EACOP?

he EACOP that it Pipeline of the 1,443 kilometers projected between Uganda and Tanzania, and if built, will be built The longest crude oil preheater pipeline in the world. It will generate oil transported through the pipeline 34 million tons of carbon emissions annually at its peak. The main operators of the multi-billion dollar project are the French oil company TotalEnergies and the China National Offshore Oil Corporation (CNOOC), along with the governments of Uganda and Tanzania. TotalEnergies is currently working hard to convince investors to support the Uganda-Tanzania pipeline project. In fact, the #StopEACOP movement took a huge step forward by announcing a new moratorium on EACOP funding. For months now, climate justice NGOs, associations and activists have taken regular interest in Marsh-McLennan for its support of the EACOP project. Marsh is instrumental, because he is Project insurance broker.

Extinction Rebellion

It is a nonpartisan and decentralized movement against the climate emergency, with a presence in 72 different countries and made up of 1,140 local groups.

born with Three demands – That the truth be told about the urgency of the climate crisis, that emissions be drastically reduced, that citizens’ associations be launched to unblock decision-making – and a method: civil disobedience. In addition, XR Spain’s country group has incorporated a Claim 0 that should inspire the other three: climate justiceUnderstand that governments should prioritize the needs of groups in situations of vulnerability and oppression.

Leave a Reply

Your email address will not be published. Required fields are marked *