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          Donnet: “Insurance sector turns from aspiration into goal-setting to overcome climate crisis”

          Today the world’s leading insurers and the United Nations have launched a pioneering target-setting protocol to accelerate the transition to a Net-Zero economy.

          The United Nations-convened Net-Zero Insurance Alliance (NZIA), includes 29 of the world’s largest insurers and reinsurers. Generali is a founding member of the Alliance.

          The NZIA Target-Setting Protocol is an important step forward, enabling its members to independently set science-based, intermediate targets for their respective underwriting portfolios, in line with a pathway to net-zero. NZIA members will set and disclose their initial targets by 31st July 2023.

          Philippe Donnet, Generali Group CEO, said: “No single company can overcome the climate crisis alone. It must be a global effort and our sector, a pillar of every successful economy, has a key role to play. Today’s milestone is a clear commitment from insurers and reinsurers across the globe as we turn from aspiration into clear goal-setting. It was my honour to launch the UN-Convened Net-Zero Insurance Alliance eighteen months ago at the G20 Climate Summit in Venice. This alliance represents around 15% of global premiums and is ready to scale and speed up the insurance industry’s contribution to a greener and more inclusive economy.”