East Africa: NGOs sign letter urging Lloyd’s not to insure oil pipeline due to human rights concerns
"100 Organizations are calling on Lloyd's to reject EACOP"
...I am writing on behalf of the #StopEACOP campaign in relation to Lloyd's of London's potential support for the East African Crude Oil Pipeline (EACOP), a proposed 1,443-kilometer oil pipeline in Uganda and Tanzania. We believe that Lloyd's members are likely to be approached for (re)insurance coverage for the pipeline...
Here is a high-level overview of the project's key environmental and social risks:
- If built, the EACOP will be the longest electrically heated pipeline in the world. The pipeline and associated oil extraction projects will impact the land of over 100,000 individuals in Uganda and Tanzania, threatening communities that rely on farming for their livelihoods and for survival. Thousands of project-affected families are already facing food insecurity, having been deprived of the use of their land to produce food and cash crops for several years without any compensation...
- The project poses immense climate risks: the oil transported by EACOP is expected to release an estimated 34.3 million metric tons of CO2 per year, significantly greater than the current annual emissions of Uganda and Tanzania combined...
The #StopEACOP Campaign calls upon Lloyd’s to advise its members against participation in (re)insurance coverage for the East African Crude Oil Pipeline and associated oil projects. We urge Lloyd's members to instead support sustainable and rights-respecting alternative development opportunities in the region.