Hannover Re Joins The Net Zero Alliance

Latest from Hannover Re;

Hannover Re is committing to achieve net zero emissions in business operations by 2030 and in its reinsurance portfolio and investments by 2050. In setting these targets Hannover Re supports the Paris Agreement on climate change aimed at limiting global warming to 1.5 degrees Celsius.

Hannover Re’s recent move to join the United Nations-convened Net-Zero Insurance Alliance underscores its Group-wide sustainability engagement. By committing to achieve the net zero targets Hannover Re is taking a major step towards advancing the transition to a climate-friendly economy. Hannover Re will report on its progress on a regular basis.

“Hannover Re’s clear Group-wide commitment to net zero targets and our membership of the Net-Zero Insurance Alliance are the next concrete steps in the progressive expansion of our sustainability engagement,” Jean-Jacques Henchoz, Chief Executive Officer of Hannover Re, said. “The insurance industry is undergoing a transformation towards greater sustainability and we want to shape this transition in a dialogue with our customers and peers. We are aware of our responsibility as a global reinsurer and we shall support industry-wide solutions to manage the consequences of climate change.”

Further underscoring its commitment to sustainability, Hannover Re is already a signatory to the United Nations Global Compact as well as the United Nations-initiated Principles for Responsible Investment and Principles for Sustainable Insurance and it has joined the United Nations Environment Programme Finance Initiative (UNEP FI).


Peter Bosshard, Coordinator, Insure Our Future: “Insurance companies need to follow the science. Insure Our Future calls on all insurers, particularly members of the Net Zero Insurance Alliance, to publicly support the findings of the IEA and make a binding commitment by COP26 that they will immediately stop insuring all new oil and gas projects. We will measure their climate credibility not by lofty long-term commitments but by the short-term action they take in line with the IEA’s findings.”
Later this week, following on today’s report by the International Energy Agency, campaigners from across Europe will join forces in Baden Baden, Germany to call on attendees of the Baden Baden Reinsurance Conference to rule out coal from treaty reinsurance and stop insuring all new oil and gas. On Sunday and Monday, as conference attendees enter the building, campaigns will welcome them with banners, speeches, flyers and chants to “Insure Our Future, not new fossil fuels”. I will follow up later this week with more on the two actions.
About alastair walker 8748 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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