Just a few days after Munich Re, Zurich Insurance Group has also decided to leave the Net-Zero Insurance Alliance (NZIA). Zurich is the second founding business to quickly leave the Net-Zero Insurance Alliance
After developing a standardized approach for calculating and disclosing greenhouse gas (GHG) emissions related to insurance and reinsurance underwriting portfolios, Zurich stated in a statement that it would “concentrate resources to support our customers with their transition.”
We are still firmly dedicated to achieving our sustainability goals and assisting the move toward net-zero energy.
The chances to accomplish decarbonization targets through a cooperative strategy among insurers worldwide without subjecting ourselves to significant antitrust risks are so limited, according to Munich Re CEO Joachim Wenning, who made this statement last week.