Pressure group demands Lloyd’s cuts ties with Bahamas offshore drilling project

SumOfUs, a campaign group that looks to pressure corporations into improving their social responsibility, has called for Lloyd’s to cut its ties with the Bahamas Petroleum Company's (BPC) exploratory offshore drilling project.

In an open letter to Lloyd’s chief executive Bruce Carnegie-Brown, SumOfUs demanded Lloyd’s stop renewing insurance for the BPC project.

It described Lloyd's as “a key player behind an oil drilling scheme in pristine Caribbean waters,” which it said is “wreaking havoc with fragile ecosystems in the Bahamas and making another disaster like Deepwater Horizon possible.”

An online petition associated with the letter had attracted nearly 39,000 signatures.

SumOfUs said: “The planet can't afford more destructive fossil fuel projects.”