Money Rebellion activists hold protest over insuring coal mine

Money Rebellion activists have told the industry to not insure the UK’s first underground coal mine in 30 years in a protest in London.

The Woodhouse Colliery scheme, which is operated by West Cumbria Mining (WCM), was signed off by the government back in December 2022.

In a statement when the application was granted, WCM said it would deliver the “world’s first net zero mine supplying the critical steel industry with a high-quality metallurgical coal product”.

However, protestors from Money Rebellion claim such a move could emit 8.4m tonnes of CO2 annually and, in turn, have urged firms to rule out providing insurance for the project.

In a protest outside the Talbot Underwriting Risk Services offices in Threadneedle Street yesterday (28 November 2023), protesters held banners saying “Don’t Insure West Cumbria Coal” and “Say No To Cumbrian Coal”.

A spokesperson from Money Rebellion told Insurance Times:  “[Companies], whether shareholders or insurers, should not be participating in the future development [of investing in coal].”