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Climate Activists Call on Insurers to Ditch Australia LNG Boost

Climate NGOs are calling on insurers to withhold coverage for a giant LNG project and hold firm to their net zero ambitions.

Reclaim Finance and other organizations have sent letters to global insurers, including Axa SA, Allianz SE and Swiss Re AG, asking them to stop providing insurance coverage for the expansion of the Ichthys LNG project in Australia, total emissions from which could reach 590 million tons of carbon dioxide, close to Australia’s annual CO2 output.