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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).
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