Geneva Association becomes a supporting institution of UN-convented NZAOA

The Geneva Association has announced it 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.

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, which was held on the 6th of October in Toronto and hosted by Sun Life, covered a range of the most pressing topics for insurance CIOs.

Notable areas of importance discussed included the current geopolitical crises, the return of inflation, the shifting credit cycle, and the challenge of tackling climate risk alongside the transition to net zero.

Jad Ariss, Managing Director of The Geneva Association, commented, “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 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.

Günther Thallinger, Allianz SE Board Member and Chair of the UN-convened Net-Zero Asset Owner Alliance, added, “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.”

Bob Swarup, Director of The Geneva Association’s Chief Investment Officer Network, said, “Transitioning to a more resilient, sustainable economy will require trillions of dollars in investment over the coming years.

“As significant long-term investors, the insurance industry has a pivotal role to play in filling that gap. The Geneva Association’s global network of insurance Chief Investment Officers looks forward to collaborating with the Alliance to bring fresh thinking to the table.”

Source: Reinsurance News, https://www.reinsurancene.ws/geneva-association-becomes-a-supporting-institution-of-un-convented-nzaoa/