Zurich Becomes 1st Insurer To Align With UN Climate Goals

Law360, London (June 25, 2019, 4:06 PM BST) -- Zurich has become the first major insurance group to commit to targets set by the United Nations aimed at limiting the rise in global temperatures, the Swiss giant said Tuesday as it vowed to cut ties with clients that use fossil fuels in the next two years.

Zurich Insurance Group Ltd. agreed to help limit average global temperature increases to 1.5 degrees C above pre-industrial levels by 2030. Zurich’s move aims to help meet the ambitions set out in the UN’s Paris Agreement, a global covenant on climate change.

Switzerland’s largest insurance group also said that it will no longer underwrite...

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