– Chubb Withdraws from East African Pipeline Project
– Insurers Reject EACOP Over Environmental Concerns
– Oil Pipeline Faces Growing Global Opposition
Chubb, a leading global insurer, has become the 30th major firm to withdraw support from the East African Crude Oil Pipeline (EACOP), citing its updated policy against underwriting oil projects in protected areas. The 1,443-km pipeline, led by TotalEnergies, faces growing criticism over its environmental and human rights impacts, including the displacement of over 100,000 people and threats to biodiversity in Uganda and Tanzania.
Environmental advocates and affected communities have welcomed the move, calling on other insurers like AIG and Liberty Mutual to follow suit. The decision marks a major win for the #StopEACOP campaign, which continues to pressure financial institutions to reject the controversial project.
