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Large Insurance Companies Leave Net-Zero Insurance Alliance
April 21, 2023Munich Re, Zurich and Hannover Re, three major insurance providers, announced their exit from the Net-Zero Insurance Alliance (NZIA) in the span of one month between March and April 2023. The NZIA is a UN-convened group of leading insurers and reinsurers launched at the 2021 G20 Climate Summit. Its members have committed to “transition their insurance and reinsurance underwriting portfolios to net-zero greenhouse gas (GHG) emissions by 2050.” Though the NZIA now has approximately 30 members, Munich Re and Zurich were among the founding organizations.
