Posts Tagged ‘Lloyd’s of London’

Lloyd’s of London to Arctic would-be drillers: Slow down

"Think carefully about the consequences" Photo by Christiane Badgley

The Guardian is reporting that Lloyd’s of London, the world’s largest insurance market, has voiced concern about proposed offshore Arctic drilling. The company says clean-up of any spill would present, “multiple obstacles, which together constitute a unique and hard-to-manage risk.”

Reading the article, several paragraphs jumped out because they could also be useful for policy makers in Africa, many of whom are jumping on the drilling bandwagon without having adequate safety and emergency response systems in place:

Richard Ward, Lloyd’s chief executive, urged companies not to “rush in [but instead to] step back and think carefully about the consequences of that action” before research was carried out and the right safety measures put in place….

Other than the direct release of pollutants… there are multiple ways in which ecosystems could be disturbed, such as the construction of pipelines and roads, noise¬†pollution from offshore drilling, seismic survey activity or additional maritime traffic….

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