European Business
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
European Business
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
European Business
No Result
View All Result
Home < INDUSTRIES Financial

GENERALI LAUNCHES THE GOALS OF THE NET-ZERO INSURANCE ALLIANCE AT THE G20 CLIMATE SUMMIT IN VENICE

by Marie Weil
July 12, 2021
A A
Share on LinkedinShare on Twitter
  • Generali is a founding member of the Net-Zero Insurance Alliance, pledging to transition their insurance portfolios to net-zero greenhouse gas emissions by 2050
  • Generali’s commitment is underpinned by its strategy for climate protection, which includes € 8.5 – € 9.5 billion of new green and sustainable investments in the period 2021-2025 and the gradual decarbonization of the direct investment portfolio, to become climate neutral by 2050

Venice – Generali Group CEO Philippe Donnet today presented the commitment of the insurance industry to accelerate the transition to a global net-zero emission economy as the ambassador of the Net-Zero Insurance Alliance (NZIA) at the G20 Climate Summit in Venice.

Eight of the world’s leading insurers and reinsurers — AXA (NZIA Chair), Generali, Allianz, Aviva, Munich Re, SCOR, Swiss Re and Zurich Insurance Group — have made an historic commitment to play their part in accelerating the transition to a global net-zero emission economy. The companies that have established the NZIA, convened by UNEP Finance Initiative’s Principles for Sustainable Insurance, have committed to reduce to zero the net emissions from their insurance and reinsurance underwriting portfolios by 2050, consistent with a global temperature rise of 1.5°C above pre-industrial levels. Each member will individually set science-based intermediate targets every five years and independently report on their progress publicly and annually to contribute to achieving the goals of the Paris Climate Agreement.

This initiative is getting ready to join the UN Race to Zero campaign in order to become officially part of the Glasgow Financial Alliance for Net Zero, which brings together the leading net-zero initiatives across the financial system.

Generali Group CEO Philippe Donnet commented: “Generali wants to actively support a just and inclusive transition to a net-zero emissions economy. The UN-Convened Net-Zero Insurance Alliance allows us to join forces with institutions and peers within our sector who share this common goal of achieving a significant and longer-lasting impact. United we are stronger. I am proud to present this initiative on behalf of the Alliance in the city of Venice in front of leaders from the most important economies in the world. Generali has historic ties with Venice and this year, our 190th anniversary, we will reopen the historic Procuratie Vecchie in St. Mark’s square as it becomes home to The Human Safety Net. We are proud to support the city, the Veneto region and its people in our shared ambition to make Venice the world capital of sustainability.”

In particular, the climate goals recently announced by Generali include the gradual decarbonization of the direct investment portfolio to become climate neutral by 2050, limiting global warming to 1.5°C above pre-industrial levels, consistent with the commitment undertaken as part of the Net-Zero Asset Owner Alliance. As an intermediate target, Generali will decrease, over 5 years, the carbon emissions for the corporate portfolio (corporate bonds, listed equity) by 25%, in respect to their level in 2019, and will align the real estate portfolio to the 1.5° C pathway.

In addition, the Group intends to make € 8.5 – € 9.5 billion of new green and sustainable investments between 2021 and 2025 and is introducing increasingly restrictive exclusion criteria for the thermal coal sector, towards a complete disposal of investments in these activities.

Over the last three years, Generali made € 6 billion of new green and sustainable investments, which exceeded its strategic target one year in advance. Generali is convinced that the private sector can play a key role in financially supporting the ‘Just Transition’ to create a future with net-zero greenhouse gas emissions by aiding public institutions in taking the necessary actions.

Generali is celebrating 190 years of life with a series of initiatives including the completion of the restoration of the Procuratie Vecchie in Venice, overseen by David Chipperfield Architects, which will be opened to the public for the first time in 500 years. The historic landmark will become the global hub of The Human Safety Net Foundation and will be a new, vibrant space to host regular public exhibitions, events and discussions on pressing social and demographic challenges from poverty to migration. Together with the authorities of Venice, the Veneto Region and with the backing of the Italian government, Generali is committed to supporting the city’s ambition to become the world capital of sustainability.

Tags: < ESG | Sustainability

Related Industries

Financial

UBS to acquire Credit Suisse

March 20, 2023
Financial

Deutsche Post DHL Group and Poste Italiane announce a strategic partnership in the international parcel market

March 11, 2023
Financial

Choy van der Hooft-Cheong becomes new chair of Talent naar de Top

March 11, 2023
Financial

Joachim Aelvoet is the new Country Executive of ABN AMRO in Belgium

March 9, 2023
Financial

ABN AMRO Sustainable Impact Fund invests in Fairphone

February 25, 2023
Financial

Susann Mayhead appointed as Member of the Board of Management for Human Resources and Director of Labor Relations of Mercedes-Benz Mobility AG

February 16, 2023

European Corporate Development & Strategy Awards

March 9, 2023

...

CHANGES IN HOLCIM’S BOARD OF DIRECTORS LEADERSHIP

February 25, 2023

...

EY and IBM Collaborate to Address Complex ESG Challenges and Drive Value-Led Sustainability

March 9, 2023

...

ABB invests in Direct Current microgrid start-up Direct Energy Partners to accelerate energy transformation

March 9, 2023

...

Interview with Mr. Sébastien Huron, CEO, Virbac group

March 6, 2023

...

Dominik Risse takes over as head of LANXESS Urethane Systems Business Unit

February 25, 2023

...

Efficient and high-performing vehicle architecture: Cooperation of Continental and Infineon

March 14, 2023

...

Carlsberg Group appoints new Chief Executive Officer

March 17, 2023

...

Yvonne Bettkober to be Head of Organizational Development and Transformation for the Volkswagen Group

March 7, 2023

...

Thierry Koskas Is Appointed Citroën Brand CEO and Stellantis Chief Sales & Marketing Officer

February 24, 2023

...

Asia Pacific Business Asia Pacific Business Asia Pacific Business

EUROPEAN BUSINESS is a premier source of corporate news, business information and insights across broad spectrum of industries in Europe and worldwide.  We are one of the members of the Business World Network.

RESOURCES

  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

CONTACT US

EDITORIAL:     editor # european-biz.com

PARTNERSHIP:     partnership # european-biz.com

HUMAN RESOURCE:     hr # european-biz.com

* (replace # with @)

  • Official Site

Copyright © EUROPEAN-BIZ.COM All rights reserved.

No Result
View All Result
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

Copyright © EUROPEAN-BIZ.COM All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist