Home Science & TechEnvironment Lloyd’s of London AGM Goes Virtual After Threat From Activists | investment news

Lloyd’s of London AGM Goes Virtual After Threat From Activists | investment news

by YAR

LONDON (Reuters) – Commercial insurance exchange Lloyd’s of London is encouraging members of its more than 100 unions to attend its annual general meeting next week online rather than in person, due to the threat of climate protests.

Since Lloyd’s sent out the invitations for the May 19 AGM on April 19, “the risk of disruption has increased significantly,” Chairman Bruce Carnegie-Brown said in a notice on the market’s website dated May 10. .

“To ensure the safety of our members and to allow the meeting to proceed in an orderly and fair manner, I regret that I strongly encourage all members attending the AGM to join in virtually and not attempt to enter the Lloyd’s building on that day.”

Climate activist groups Extinction Rebellion and Mothers Rise Up have staged protests outside the Lloyd’s of London tower in the City of London, particularly around the market’s coal underwriting.

Extinction Rebellion and Mothers Rise Up did not immediately respond to a request for comment.

Lloyd’s, whose members insure big risks from ships to power platforms, has unveiled its first climate strategy in 2020 and has called on unions to stop providing new cover for coal deals.

But campaigners say the policy doesn’t go far enough, stopping short of forcing insurers to pull out of coal.

(Reporting by Carolyn Cohn, Editing by Louise Heavens)

Copyright 2022 Thomson Reuters.

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