They include removing a six-month deadline for members to publish emissions targets. Read more at straitstimes.com.
LONDON - The remaining insurers in a United Nations-backed coalition aimed at tackling climate change are poised to loosen the alliance’s membership requirements, after a recent exodus of members, according to two people familiar with the discussions.
The attorneys-general said the Nzia’s requirements for members to publish and meet greenhouse gas emission-reduction targets appeared to violate antitrust laws, and that the alliance’s actions had pushed up insurance and other costs for consumers. But remaining members, among them Britain’s Aviva, Italy’s Generali and South Korea’s Shinhan Life, want to avoid insurers publishing targets simultaneously, which could invite fresh accusations of anti-competitive collaboration, the first source said, speaking on condition of anonymity because of the sensitivity of the matter.
Other proposals being discussed include making the alliance a broader forum where insurance industry bodies participate in areas like target-setting best practice, the first source said.
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