Climate activists are urging more banks and insurers not to back the controversial $5 billion East African Crude Oil Pipeline that is primed to transport oil from the Hoima oilfields in Uganda to the Tanzanian coastal city of Tanga. Influential climate activists Vanessa Nakate and Hilda Nakabuye have lent their support to opponents of the pipeline citing the need for Africa to stay away from fossil fuels. The unrelenting pressure mounted by environmental groups, under the banner #StopEACOP, has led to a growing list of banks and insurers quitting the oil pipeline project. Just this week the project suffered another major setback after insurer Allianz Group pulled out of the project. It joins 15 banks and seven insurance companies — including HSBC, BNP Paribas and Swiss Re — who have denied financially backing the pipeline in response to the campaign waged by numerous environmental organizations, […]