German insurance association GDV partners with Net-Zero Asset Owner Alliance

Written by Adam Cadle

11/03/2021

The UN-convened Net-Zero Asset Owner Alliance has welcomed Germany’s insurance industry association GDV as a supporting partner – the first insurance industry association to become a supporter of the Alliance.

GDV will be in a strong position to support better science and knowledge in measuring climate change impacts on business activities.

Chair of the Net-Zero Asset Owner Alliance and Allianz board member Guenther Thallinger said: “It is vital that industry associations in the financial sector use their influence to secure a net-zero emissions future and we salute the leadership of GDV.

“As the UN-convened net-Zero Asset Owner Alliance expands its membership, our work with industry associations such as GDV will become increasingly important as we start to push for real economic change."

GDV said with this step it is continuing to implement actively the sustainability positioning that the GDV Executive Committee adopted at the beginning of the year. In addition, the business processes of German insurers, such as offices and vehicle fleets, are to be climate-neutral by the end of 2025. Sustainability criteria will also be integrated into the underwriting guidelines. In the long term, insurers no longer want to underwrite commercial and industrial risks that minimise the transformation process towards a sustainable and climate-neutral economy.

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