The Net-Zero Insurance Alliance (NZIA), created under the auspices of the United Nations Environment Program (UNEPFI Principles for Sustainable Insurance (PSI)), is joined by American Hellenic Hull, the initiative’s first purely marine insurance company.
The NZIA initiative is part of the United Nations effort to achieve zero carbon emissions by 2050, emphasizing the role that the insurance industry can play in this direction.
“Achieving zero carbon emissions is an international priority, but there are still several issues that need to be resolved. “It is more necessary than ever to develop a single global roadmap that will provide the framework for the shipping industry to achieve a smooth transition to the new reality,” said Elias Tsakiris, CEO of American Hellenic Hull.
“The Net-Zero Insurance Alliance is therefore a pioneering step, enabling insurers and reinsurers to take action and support their clients,” he added.
NZIA was born at the G20 Summit in Venice last July from eight of the world’s leading insurers and reinsurers: AXA, Allianz, Aviva, Generali, Munich Re, SCOR, Swiss Re and Zurich Insurance Group. At the same time, the alliance continues to expand with the entry of three new members into Europe: American Hellenic Hull, a leading force in Cyprus-based marine insurance, Hannover Re, the third largest reinsurance company in the world and NN Group one of the largest insurance companies. companies in the Netherlands.
All NZIA members are committed to upgrading their portfolios by selecting products and services that enhance the goal of achieving zero greenhouse gas emissions by 2050. Members are committed to setting targets that will be reviewed every five years based on new scientific data. , which they must make public. A condition for a company to join the NZIA alliance is to announce to the initiative the short-term steps it is called to take towards zero emissions.
“The Net-Zero Insurance Alliance, accredited by the UN Race to Zero campaign, is a model for zero-emission insurance commitments in terms of ambition, reliability, accountability and transparency,” said Nigel Topping, senior official of the United Nations Framework Convention on Climate Change. “I urge insurers around the world to increase their climate ambitions by joining NZIA and becoming part of the solution. “Now is the time for decisive action.”
“Insurers that have joined the NZIA alliance are responding to science’s call to curb global warming and prevent catastrophic climate change. That is why NZIA should be an alliance of the many, not the few, and zero-carbon portfolios and services should be the rule, not the exception,” said Butch Bacani, who leads of the Insurance Sustainability Initiative.
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