Zurich Insurance CEO Criticizes Climate Clubs After Exodus
- Voluntary climate alliances becoming ‘political, bureaucratic’
- Zurich quit Net Zero Insurance Alliance earlier this year
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The chief executive officer of Zurich Insurance Group AG has spoken out against the network of voluntary climate alliances that represent some of the biggest names in global finance, calling them “political and bureaucratic.”
Mario Greco, who led his firm out of the Net Zero Insurance Alliance earlier this year amid a wider exodus from the group, said the decision followed a realization that, as things stand now, the goal of limiting temperature rises to 1.5C as enshrined in the Paris climate agreement “will never be achieved.”