Lloyd's of London boss calls for UN climate alliance rules rethink

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A global climate alliance for insurers needs to make its membership rules less prescriptive or risk falling apart, the boss of Lloyd's of London said after political pressure from some U.S. states prompted some companies to leave.

The United Nations Environment Programme on Wednesday said "recent discussions within the United States" had been behind four insurance firms quitting the U.N.-convened Net Zero Insurance Alliance in recent months.

"There are five objectives, and you have 12 months to meet one of them and 36 months to meet three of them. NZIA need to have another look at what their objectives are or the alliance will fall apart."

Source: News Formal (newsformal.com)


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