Zurich latest to drop out of Net-Zero Insurance Alliance


Climate campaigners react to NZIA exits

Climate campaigners were quick to react to Zurich’s exit from the insurance alliance.

Jennifer Buchli, a climate campaigner from Zurich-based social justice collective Campax, said that “unlike Munich Re and other peers, Zurich continues to underwrite new oil and gas projects.”

“It is not credible for Zurich to engage their customers on the net zero transition as long as the insurer doesn’t end their support for the expansion of oil and gas extraction themselves.”

Peter Bosshard, coordinator of the Insure Our Future campaign, said: “The NZIA has allowed itself to be immobilised by antitrust concerns from the start. With Munich Re and now Zurich leaving the alliance, insurers have an even bigger direct responsibility to align their businesses with a credible 1.5C pathway,” he said.

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