Netherlands-based insurance and financial services company Achmea announced today that it is joining the Net Zero Insurance Alliance (NZIA), along with a series of climate commitments, including targeting a climate-neutral investment portfolio by 2040 and a climate-neutral insurance portfolio by 2050 at the latest.
Launched in July 2021, the NZIA is a United Nations-backed initiative that brings together some of the world’s largest insurers and reinsurers to accelerate the global transition to net zero GHG emissions through their underwriting and risk management practices. Signatories to the initiative commit to climate-neutral insurance portfolios by 2050, consistent with a maximum temperature rise of 1.5 C above pre-industrial levels.
Achmea stated that the company is also supporting the Insured Emissions initiative of the Partnership for Carbon Accounting Financials (PCAF), in collaboration with the NZIA, through which it plans to develop a standard for measuring and reporting CO2 emissions of insurance portfolios.
Bianca Tetteroo, Achmea Chair of the Executive Board, said:
“We are setting the bar high for ourselves. Based on our vision ‘Sustainable Living Together’, we want to create sustainable value for our customers, our employees and our business and for society. By accelerating this as much as possible, we are taking responsibility now and not shifting it to the future. Past generations could count on us; future generations must be able to do so as well. Climate change is a major theme for Achmea and we want to help our customers and society be resilient against it. And along with our partners, we are committed to working towards combatting further climate change. Joining the NetZero Insurance Alliance is a perfect fit for this.”