Activists hoping Marsh may deliver blow to mine by dumping Adani

Activists are pinning their hopes that insurance broker Marsh is about to announce a crucial climate change policy that will hit the Adani mine development in central Queensland.

May 20, 2020, updated May 20, 2020
Adani is understood to have secured a $1 billion loan from the Bank of India, which is now under scrutiny. (Photo: Adani)

Adani is understood to have secured a $1 billion loan from the Bank of India, which is now under scrutiny. (Photo: Adani)

Marsh is a subsidiary of the New York-based Marsh & McLennan and it will hold its annual general meeting tomorrow following a strong campaign by the Stop Adani activists to force it into dumping Adani from its books.

Marsh has not commented, nor has Adani said the company would be used to insure the Carmichael mine but activists claim it was linked to the project in documents as far back as 2016.

Stop Adani’s Ed Hill said they didn’t know what Marsh would announce tomorrow.

“What we do know is that investors in Australia have raised their concerns with Marsh and they have been told there will be some sort of policy announced,” Hill said.

“If they announce policy to limit their exposure to climate change they will be the first broker in the world to do that.”

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Adani said the anti-mining activists and the “so-called charities that fund and employ them” had thrown everything but the kitchen sink at the company to try and stop it building the Carmichael mine and rail project and they had failed.

“After more than eight years of working on our project we have repeatedly demonstrated that we will not be intimidated or deterred from delivering on our promises to Queenslanders and we continue to get on with the construction of the Carmichael project.

“Construction is continuing on schedule, with railway and mine works being undertaken in line with strict measures to manage the risk of the COVID-19 virus.

“We remain on track to create more than 1,500 direct jobs during the construction and ramp up of our project and some further 6750 indirect jobs.”

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