Chubb insures methane/LNG export terminals the fisherfolk say are destroying their communities
Naples FL — Hundreds of fake bills – featuring CEO Evan Greenberg as a ‘pollution profiteer’ – rained down from the camera tower at the Chubb Classic PGA Tour, disrupting gameplay as a banner unfurled demanding that the insurance company stop insuring methane projects. Chubb insures two of the nation’s largest methane/LNG export terminals surrounding the waterways of Cameron, Louisiana that fisherfolk say have a direct impact on their businesses, decreasing their catch by 85%. While fisherfolk can’t insure their homes or fishing businesses due to hurricane risk, Chubb is insuring fossil fuel projects in the same area that drives up those very hurricane risks. Rainforest Action Network took credit for the disruption, in solidarity with the fisherfolk of Cameron, LA.
“These people play games, but it’s not a game to us. Chubb has a lot of money, but do their clients know how they get that money? It’s because they’re crushing fishermen like me by helping their rich LNG friends. I know it in my bones that if these methane terminals were turned off, we’d be back in business. Chubb’s Board should see that and stop insuring methane gas.” said Wayne LaSalle, a Louisiana oyster fisherman in attendence
Louisiana locals are holding Chubb accountable as they see underwriting methane companies as an attack on their way of life. Communities living in the wake of the operating methane terminals name the flaring, toxic emissions, and impacts on the local waterways as devastating. Promised jobs are often given to out of state workers who disappear once a facility is built and remaining jobs require expertise not offered to local residents.
“Talk is cheap. We need Chubb to take us seriously and stop insuring the methane terminals that make it impossible for fisherfolk like myself to make a living.” – Solomon Williams, Jr., Louisiana oyster fisherman.
Chubb insures Cameron LNG is which is majority owned by Sempra. Its a joint partnership with Total, Mitsui & Co., Mitsubishi Corp, and Japan LNG Investment, LLC. Since it came online in 2019, with full operations in 2020, fisherfolk say it has an effect on the shrimp that drives down catch. With exports going mostly to Asia and Europe, it’s the fourth largest methane export terminal in the US.
Recently, it was exposed that Chubb also insures Venture Global’s Calcasieu Pass LNG. Their facilities are the emissions equivalent of over 160 coal fired power plants. Venture Global is also seeking permits and financing for two additional new methane gas export terminals, the highly contested CP2 and Delta LNG. Chubb is insuring Calcasieu Pass LNG, the facility that fisherfolk say pushed sea catch out of their fishing grounds.
Climate and energy experts say there is no need for fossil fuel expansion for a global energy transition, that a new surge in LNG infrastructure would provide a supply glut that could crash the price of methane gas, increase costs for American families, and that meeting net zero by 2050 necessitates ending the expansion of new fossil fuels.