Three of Europe’s biggest insurers have quit the Net-Zero Insurance Alliance as growing US political pressure and legal fears plunge the climate initiative into crisis.
Axa, the group’s former chair, Allianz and Scor said on Thursday that they were leaving the NZIA, which is one part of Mark Carney’s umbrella group Glasgow Financial Alliance for Net Zero, created by the former Bank of England governor ahead of the UN climate summit held in Glasgow in 2021.
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