It is imperative that you listen to impacted communities, allies, and science, and immediately stop financing, underwriting, reinsuring, investing, and advising new or expanded fossil fuel projects, including liquefied “natural” gas (LNG) import and export terminals and associated methane gas infrastructure. In particular, we call on you to end all support for the CP2, CP3, Plaquemines LNG expansion projects.
The International Energy Agency (IEA) concludes in its 2025 World Energy Outlook that “many of the LNG projects currently under construction are no longer necessary” in a pathway that limits global heating to 1.5˚C. And, as the Intergovernmental Panel on Climate Change (IPCC) report puts it: “There is a rapidly closing window of opportunity to secure a liveable and sustainable future for all.” LNG terminals and related infrastructure are long-lived assets that can lock in further emissions and increase transition risk, with potential regulatory and reputational implications.
The annual lifecycle of greenhouse gas emissions for cumulative operating and proposed LNG export expansion in the United States, is estimated at 4,327 million metric tons of CO2. The largest proposed project, Venture Global’s CP3 export terminal, would add the annual emissions equivalent of 77 coal plants.
Continued financial or insurance support for LNG expansion therefore raises material concerns regarding climate alignment, risk management, and consistency with publicly stated climate commitments.
Below are the necessary steps to ensure your institution is aligned with the Paris Agreement, as well as the science-based objective of limiting global warming to 1.5°C, with minimal to zero overshoot; and that human rights, critical biodiversity, and ecosystems are protected:
1. Immediate Moratorium on Fossil Fuel Expansion: immediately end all financing, underwriting, reinsurance, investment, and advisory services for new or expanded coal, oil, and gas projects, including:
- LNG export and import terminals;
- Methane gas pipelines and associated infrastructure;
- Projects across the full value chain (upstream, midstream, and downstream).
Fossil fuel clients should be required to publish time-bound, measurable transition plans aligned with a 1.5°C warming limit and the Paris Agreement.
2. No Corporate-Level Services to Fossil Fuel Expansion Companies: immediately cease providing corporate group-level financial, insurance, and advisory services to any company that
- Is engaged in fossil fuel expansion, including LNG infrastructure; or
- Is otherwise misaligned with a credible 1.5°C pathway and the objectives of the Paris Agreement.
Exclusion and transition policies should apply consistently across all subsidiaries, geographies, financial instruments, and reinsurance lines.
3. Community Protection, Accountability, and Capital Allocation: ensure your policies and practices:
- Support affordable and accessible insurance for communities facing increasing climate-related risks;
- Hold major polluters accountable for environmental, climate, and human rights harms;
- Establish measurable targets demonstrating a clear scaling down of fossil fuel exposure and a corresponding scaling up of clean energy support.
Capital and underwriting capacity should be directed toward community-led and sustainable solutions, including sustainable renewable energy.
4. Human Rights and Biodiversity Safeguards: require all clients to:
- Respect and obtain Free, Prior, and Informed Consent (FPIC) for Indigenous Peoples;
- Obtain meaningful consent from affected local communities;
- Implement human rights due diligence aligned with the UN Guiding Principles on Business and Human Rights and the Universal Declaration of Human Rights.
Financial and insurance services should be excluded or withdrawn from projects and clients that adversely affect protected areas.
Thank you for your attention to this important issue.
You can read the full demands and letter sent from frontline communities and allies to financial institutions here.