Net Zero Underwriting Alliance : Axa boss proposes new climate alliance for insurance sector
Climate campaigners welcome proposal, but warn sector s net zero pledges are meaningless unless insurers end coverage for carbon intensive fossil fuel projects in the near-term
The chief executive of French insurance giant Axa has called for the creation of a net zero underwriting alliance that would see member companies from across the insurance sector align their business activities with the 1.5C warming pathway required under the Paris Agreement.
Setting out the idea during the Climate Action Summit hosted by the UK, France, Italy, Chile, and UN on Saturday, Thomas Buberl said the coalition should be launched ahead of the COP26 Climate Summit that is set to be held next autumn in Glasgow.
Asset Mangers bind to commit $9 trillion in Net Zero Carbon Pledge
The investors who signed net zero carbon pledge have committed to prioritizing the achievement of real economy emissions reductions. PUBLISHED BY
Thirty leading asset managers of the world have committed to oversee $9 trillion in investments to achieve net-zero carbon emission portfolio by 2050.
The group includes Fidelity International, Legal & General Investment Management, Schroders, UBS Asset Management, M&G, Wellington Management and DWS. This decision is sure to impact many businesses as the portfolio managers will be looking at companies that are committed to lessening their carbon footprints.
The investors also include Japan’s Asset Management One and France’s Axa Investment Managers. The group has come forward to form the Net Zero Asset Managers initiative to mark the five-year anniversary of the Paris Agreement.
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