The United Nations previously created something called the Net-Zero Insurance Alliance in an effort to somehow bring the insurance industry in line with the UN’s climate change policies. If you find yourself wondering what insurance companies have to do with carbon emissions, you’re not alone, but this is 2023 so here we are. The arrangement requires all participating companies to include environmental, social, and governance considerations (ESG) in their charters. The NZIA may be falling apart, however. An increasing number of American red states have passed laws forbidding ESG requirements that could raise costs and reduce investment profitability. Further, 23 Republican state Attorneys General sent letters to NZIA members suggesting that they could be violating antitrust laws. This has led to multiple European insurance companies pulling out of the group, much to the UN’s consternation. (Politico)Read More
The end of ESG?
