28 Oct. 2024: Health Workers stage protest in insurance giant AXA’s lobby to highlight its role in facilitating the continued expansion of fossil fuels

Posted by: Alice - Posted on:

This morning a group of health professionals affiliated with Extinction Rebellion staged a protest at AXA UK, one of the top three health insurers in the UK, in order to start a meaningful conversation about the role of insurance in the climate crisis. Having sent letters in advance in an attempt to engage with the company in discussion on the issue, medical activists gathered outside AXA headquarters in the City of London to demand the company withdraw its financial support for fossil fuel projects around the world. They had hoped to hand-deliver their letter to AXA representatives but were denied access by security.

The group has been strategically campaigning on fossil fuel finance for several years1, believing that financing projects which imperil our future makes no sense either for investors or the health of us all. 

The health risks of the climate crisis are multiple, but there are specific reasons for insurers to be concerned. The risks of flooding to health are significant and widely documented. These include short term risks such as drowning, trauma, and skin and gut infections. Long term consequences include mental health impacts, respiratory disease from mould and damp and a range of vector-borne diseases2.

The frequency and magnitude of flooding events is projected to increase in the UK, with consequent harmful impacts on health3. Additionally it is well documented that heatwaves place extraordinary stress on health, capable of endangering the lives of ordinarily healthy people such as the customers of health insurers. Inevitably this will impact the underwriting process, and so we believe we have a mutual interest in addressing the mitigation of these risks.

A recent lawsuit in the US, hailed as a landmark case, has defined ‘recklessness’ and ‘accident’ in insurance law as applicable to fossil fuel projects that pollute the environment in full knowledge of the consequences of climate change.4

AXA holds investments in a number of concerning fossil fuel projects, namely liquid natural gas (LNG) terminals throughout the world. TotalEnergies, the company insured, has vowed to increase LNG production by 50% by 2030. Contrary to popular belief LNG is not a cleaner fossil fuel than others, as methane leakage throughout its value chain has 80 times the global warming effect of CO2. Furthermore, methane damages airways, aggravates lung diseases, causes asthma attacks, increases rates of preterm birth, cardiovascular morbidity and mortality, and heightens stroke risk5. LNG is dirtier than coal. 6,7

A spokesperson for HXR (Health for XR) stated before the action:
“We derive no pleasure from protesting here today in the rain, but as medical professionals we are acutely aware of the health implications of further investment in fossil fuels. We believe that such actions are necessary to compel the finance sector to awaken to their responsibilities in the climate crisis.”

Additional quotes in support:

Dr Kathy Fallon, retired GP said: 

“As a GP I have spent my entire working life caring for patients, helping them through illness and advising them how to minimise risks to their health. It seems to me that the severe weather patterns we are now experiencing due to increasing greenhouse gas emissions (like CO2 and methane, from the extraction and burning of fossil fuels causing overheating of our world), are in direct opposition to my work as a doctor. How should patients reduce their climate related health risks? One way is to ask insurers like AXA to stop insuring new fossil fuel infrastructure and instead support the new green opportunities that we have.”

Dr Naomi Adelson, GP,  stated:

’The climate emergency and the extreme weather it causes have severe impacts on human health and wellbeing and the ability of health services to function efficiently. As a doctor I feel that I have a responsibility to mitigate this crisis to protect public health. It can be hard to know what to do about such a big problem, but insurance companies such as AXA have the power to really make a difference by choosing to insure projects that work towards a healthier world rather than those that continue to work with harmful fossil fuels.’’

Press contact:

e-mail: contact@healthforxr.com

Christelle Blunden 07971497879

Media for press: https://drive.google.com/drive/folders/1Dn1admKwlChTp6I_AAMgNPIM9ZIUIKY7?usp=sharing

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Notes for Editors: