The Geneva Association has become a supporting institution of the UN-convened Net-Zero Asset Owner Alliance (NZAOA), an alliance of institutional investors committed to transitioning their investment portfolios to net-zero carbon emissions by 2050.
Jad Ariss, Managing Director of The Geneva Association, said: “Becoming a supporting institution of the Net-Zero Asset Owner Alliance is an important development for our organisation. This engagement will allow us to continue driving collaboration and exchange in this space, including through The Geneva Association’s global network of insurance Chief Investment Officers. The fact that the insurance companies of 25% of The Geneva Association’s CEO members already participate in the Alliance is a clear sign that the net-zero agenda is an increasing priority for the insurance industry.”
The announcement was made at The Geneva Association’s 2022 conference for its Chief Investment Officer (CIO) Network, comprised of insurance CIOs from the world’s leading insurers. The conference, held on 6 October in Toronto and hosted by Sun Life, dissected the most salient topics for insurance CIOs right now: geopolitical crises, the return of inflation, the shifting credit cycle, and, notably, tackling climate risk and the transition to net zero.
The Geneva Association joins other insurance associations, such as Insurance Europe, the French Insurance Federation, the German Insurance Association and the Swiss Insurance Association, as supporting institutions of the NZAOA. Earlier this year The Geneva Association also became a supporting institution of UNEP-FI’s Principles for Sustainable Insurance (PSI).
Gunther Thallinger, Allianz SE Board Member and Chair of the UN-convened Net-Zero Asset Owner Alliance, commented, “We appreciate the support of The Geneva Association, the leading think tank for the global insurance industry. With the Association’s impressive work on some of the world’s most pressing environmental challenges, and the role insurers play in mitigating and adapting to these, we look forward to collaborating on enabling the critical transition to a resilient, net-zero global economy.”