DIRTY DEAL OF THE MONTH: ZE PAK mines and plants (Poland)

ZE PAK mines and plants (Poland) 

ZE PAK is a Polish coal miner and power generator which relies on lignite, the most polluting type of coal, almost exclusively. The company plans to develop up to three new open-pit mines holding more than 1 billion tons of lignite. Protests against ZE PAK’s operations have attracted thousands of people, and a protest targeting its insurers will take place on March 1.

ZE PAK’s mines and plants were insured in 2014 and again in 2016 by Allianz, Munich Re’s Ergo Hestia, Talanx’s Tuir Warta and Uniqa. Since then, Allianz has adopted a coal exit policy, Uniqa is in the process of doing so, and Munich Re will no longer underwrite stand-alone coal projects in industrialized countries. The ZE PAK contract will come up for renewal on April 1, 2019. All eyes are now on Talanx and its subsidiaries HDI and Tuir Warta.

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