NN Group joins FIT to accelerate climate action by the insurance industry
NN Group today announces it has joined the Forum for Insurance Transition to Net Zero (FIT). The new dialogue and multi-stakeholder forum aims to support the necessary acceleration and scaling up of voluntary climate action by the insurance industry and key stakeholders.
The FIT draws on the experience gained with the Net-Zero Insurance Alliance (NZIA) that first transformed net-zero insurance from theory into practice. A group of 19 insurers and reinsurers have joined the initiative.
The FIT is chaired by the UN Environment Programme (UNEP). It will engage with insurance regulators and supervisors, net-zero standard-setters and initiatives, and the scientific and academic community, among others.
NN Group has joined FIT as a founding member because we believe collaboration and knowledge sharing with key players in the international (re)insurance market continues to be essential for the financial industry to reach its net-zero targets. NN Group aims to reach net-zero with our insurance underwriting portfolios by 2050 and we published our first intermediate targets in July 2023.
Priorities for the FIT:
- Advancing frameworks for net-zero insurance metrics and voluntary targets, and developing new net-zero insurance concepts
- Developing a net-zero transition plan framework for insurance market participants
- Engaging with the real economy on the development of net-zero transition plans by corporates across different sectors
- Tackling challenges and opportunities to develop insurance solutions and taxonomies that support the net-zero transition
With FIT replacing NZIA, we continue to share the goal to tackle climate change and the problems it raises for the insurance market.
Read more information on the FIT : https://www.unepfi.org/forum-for-insurance-transition-to-net-zero/
