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AIG Promises Net-Zero Portfolios as Insurers Unveil ESG Pledges

AIG headquarters in New York.

AIG headquarters in New York.

Photographer: Michael Nagle/Bloomberg

American International Group Inc. said it would commit to overhauling its underwriting and investment portfolios so they produce net-zero greenhouse gas emissions by 2050 as insurers move away from fossil fuels.

“AIG is focused on the realities of climate change,” Chief Executive Officer Peter Zaffino said in a statement Tuesday. “The data about climate change is unambiguous, and we believe that AIG can be a catalyst for positive change as it relates to sustainability advancements and renewable-energy expansion.”