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Adani addresses activist calls for insurance boycott

Published by , Assistant Editor
World Coal,

Having announced finance, Adani are continuing to get on with creating jobs associated with the Carmichael mine and rail project.

The company is aware that Greenpeace’s Unfriend Coal campaign is urging insurance companies to rule out providing insurance services for the project.

The company’s insurance arrangements, like most businesses, are commercial-in-confidence. Like any other Australian organisation, Adani Australia ensures they have the insurance necessary to cover their various business activities.

The campaign is being run in Australia by the activist group Market Forces that pressures companies in an attempt to get them to change their legal and legitimate business models.

Market Forces is closely aligned to the Sunrise project, the foreign-funded activist group that is central to anti-coal campaigning in Australia.

Market Forces claims that Carmichael will cause “catastrophic climate change”, the premise for the Unfriend Coal campaign, are simply untrue. Carmichael mine will ramp up over time to produce 27.5 million tpy of coal in stage one, equivalent to just 0.5% of total world thermal coal demand in 2017.

The fact is that coal underpins the high quality of life enjoyed in Australia. Australia’s primary energy consumption is dominated by coal (around 40%) and coal accounts for approximately 75% of Australia’s electricity generation.

This Christmas, Australians will be cooking their Christmas feasts, cooling their drinks and turning on their Christmas lights using electricity, three-quarters of which will be generated by coal.

The International Energy Agency’s latest coal market report, Coal 2018, shows global coal demand looks set to rise for the second year in a row in 2018, and is forecast to remain stable over the next five years.

Adani believe providing a sustainable energy mix to meet increasing energy demand will play a critical role in improving the quality of life in developing nations and sustaining it in the developed world, which is why Adani invests in both thermal and renewable energy generation.

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Australia coal news