Britain needs oil and gas, Kwarteng tells Extinction Rebellion protesters

XR said it was demanding that Lloyd’s stopped insuring all fossil fuel projects, including the controversial expansion of the Trans Mountain pipeline in Canada. 

Within minutes of arriving, some climate demonstrators – dressed up as rats, cleaners or donning City-type suits – scaled the “inside out” building, while others executed a trademark “glue on”.

Having used super glue to stick themselves to the surface of office doors, floors or reception desks, police were forced to handle the activists incredibly gently for fear of ripping their skin, before carrying or leading them away – some looking gleeful. No arrests were made.

“I’m glued on to the floor because it’s the only action I feel I can take to deliver a message that we need to stop fossil fuels, and we need to stop them now,” said one activist who stuck herself to the ground in-front of a revolving door.

While the environmental group has previously targeted major City institutions like the Bank of England and HSBC, this demonstration was notable for being the first time it has managed to force an organisation to close its doors. It came just as Lloyd’s has been trying to lure workers back into the office post-pandemic.

In October, Lloyd’s said it would join peers in beefing up its efforts to cut carbon emissions and push its members to do the same. Part of the effort involves its £3bn central fund, which backstops members’ liabilities, becoming net zero by switching to green investments.

Activists, however, accused the insurance market of watering down its climate pledge. Lloyd’s last year clarified that it would not “mandate” its insurers to stop providing policies that cover carbon-intensive energy sources, having previously said it would ask market players to do so. 

“It is up to each individual managing agent to decide their own ESG targets and policy, including their approach to sustainable underwriting,” it said. 

XR’s targeting of the Bank of England last year, meanwhile, came despite Rishi Sunak changing the Bank’s remit to include a duty to support the Government’s net zero carbon ambitions as well as set interest rates. 

Further disruption ensued on Wednesday with demonstrations by XR at Shell’s London headquarters in Lambeth, and outside the Department for Business, Energy and Industrial Strategy in Whitehall. 

Two activists entered Shell’s entrance lobby and glued their hands to the reception desk, demanding a meeting with human resources. 

Another, who said he was an art teacher and made his way to the fourth floor of the building, posted a video online explaining his actions. 

“I’m doing this for the love of my four nieces who have absolutely no say in the future of this planet. The planet that your corporation is destroying,” he said. 

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