Insurers are being forced to rethink their approach to climate change as they assess the risk of being sued for antitrust violations. Munich Re, the world’s biggest reinsurer, recently backed out of the Net Zero Insurance Alliance citing what it …
German reinsurer Hannover Re on Wednesday became the third major company to leave a global climate alliance focused on reducing emissions that has faced growing political pressure in the United States. Hannover said in an emailed statement that it was …
Zurich Insurance Group AG is leaving a coalition of major insurers that have committed to reach net-zero emissions, the second high profile exit from the group in a matter of days. The Swiss insurer said in a statement that it’s …
Global companies that form alliances to help them to tackle climate change need clear “safe harbor” guidelines from governments to allay fears they could be tripped up by antitrust rules, legal experts said. Hundreds of companies have banded together into …
The Net Zero Asset Owner Alliance (NZAOA) said on Wednesday [March 29] it expects members to make no new direct investments in upstream oil and gas infrastructure projects for new fields, as part of efforts to rein in global warming. …
Munich Re is leaving an alliance of leading insurers that have committed to reduce emissions due to what it says are “material” legal risks, in a move that marks the latest blow to a coalition built by former Bank of …
A coalition of pension funds and insurance companies that includes Allianz SE, the California Public Employees’ Retirement System and Zurich Insurance Group AG have committed to managing $7.1 trillion of assets in line with the Paris Agreement’s goal of limiting …
Investors managing $14 trillion have urged the United Nations to create a global plan to make the agriculture sector sustainable and curb one of the biggest sources of climate-damaging emissions, a letter seen by Reuters showed. Food production accounts for …
A group of the world’s largest asset owners managing $10.4 trillion said on Tuesday they would step up their response to climate change and aimed to at least halve carbon emissions from their investment portfolios by 2030. The 69 members …
By 2025, 29 of the world’s biggest pension funds and investment firms, including Allianz SE and the California Public Employees’ Retirement System, intend to have cut the emissions of their portfolio holdings by at least 25%. The targets, which cover …
