Campaigners stage Lloyd’s protest over Coral Triangle gas projects

Campaign group Mothers Rise Up is calling on insurers operating through the Lloyd’s market to stop underwriting new fossil fuel projects in the Coral Triangle, arguing that continued support for liquefied natural gas (LNG) developments exposes carriers to growing environmental and financial risks. 

The group is holding a protest outside Lloyd’s of London this morning (9 June 2026), where activists and families are set to paint a large-scale “Mother Reef” mural to highlight concerns over the future of one of the world’s most biodiverse marine regions.

Spanning six countries across South East Asia and the Pacific, the Coral Triangle is home to the majority of the world’s coral species and supports the livelihoods of an estimated 360 million people.

Lorna Powell, co-director of Mothers Rise Up, said: “The Coral Triangle sustains millions of people, countless species and our shared future. We call on all Lloyd’s insurers to stop underwriting its destruction and make it a no-go zone for new fossil gas projects.”

Campaigners argue that planned fossil fuel expansion in the region threatens ecosystems that provide natural protection against flooding and extreme weather events.

A recent UK government national security assessment warned there is a “realistic possibility” that coral reefs across South East Asia could begin to collapse from 2030, threatening fisheries, weather systems and food security with implications for the UK.

According to Mothers Rise Up, more than 70 organisations globally have backed calls for insurers to end cover for new fossil fuel infrastructure projects within the Coral Triangle.

Underwriting scrutiny

Research by Insure Our Future and Campax referenced by the group suggests that damage to coral reefs and mangrove ecosystems could increase vulnerability to storms, flooding and other natural catastrophes, potentially worsening insured losses over time.

Several major insurers have already introduced restrictions on certain fossil fuel projects. Campaigners highlighted measures taken by firms including Generali and Munich Re as evidence of changing market attitudes towards climate-related underwriting exposures.

Campaigner Angelica Dacanay, South East Asia network Energy Shift SEA, said: “Communities across the Coral Triangle depend on the ocean for food, livelihoods and survival.

“Insurers underwriting fossil fuel companies are helping destroy the marine habitats families depend on every day.”