Swiss Re decides to leave Net-Zero Insurance Alliance
FRANKFURT (Reuters) - Reinsurer Swiss Re on Monday became the latest major company to leave a global climate alliance focused on reducing emissions that has faced growing political pressure in the United States.
Swiss Re said in an emailed statement it had decided to leave the Net-Zero Insurance Alliance (NZIA), without giving a reason for the decision.
The move to leave the NZIA, part of the Glasgow Financial Alliance for Net Zero set up by U.N. climate envoy Mark Carney, follows the exit of members Munich Re at the end of March and Zurich Insurance and Hannover Re in April.
"Our commitment to our sustainability strategy remains unchanged," Swiss Re said in an emailed statement.
A spokesperson declined further comment.
While Zurich had said it was leaving to focus on helping customers in the transition to a low-carbon economy, Munich Re said it was leaving because of anti-trust concerns.
The charge that companies in such climate alliances could be breaking anti-trust laws by aligning their policies has been increasingly levelled by Republican politicians in some U.S. states as part of a pushback against sustainability efforts.
(Reporting by Tom Sims; Editing by Jane Merriman and Aurora Ellis)