The Swiss Insurance Association SIA is joining the United Nations-convened Net-Zero Asset Owner Alliance as a supporter. The investors comprising this global network are seeking to transition their investment portfolios to net-zero CO2 emissions by 2050.
The members of the Net-Zero Asset Owner Alliance have committed to achieving carbon-neutral investments by 2050. The Swiss Insurance Association SIA shares this ambition and is joining this global alliance of large institutional investors in the capacity of supporter from 30 September 2021. The long-term orientation of their business model makes it virtually incumbent on insurers to help drive forward sustainability. In their investment policy in particular, the SIA’s member companies have a great interest in ensuring that their investments are attractive over the long term – i.e. sustainable – given the long horizon over which their premiums are invested. ‘The SIA is committed to the insurance industry’s sustainable development. This makes the SIA’s involvement in the Net-Zero Asset Owner Alliance initiated by the United Nations a logical step,’ says the association’s deputy director, Urs Arbter.
Restricting global warming to a maximum of 1.5 centigrade will require new areas of business to be developed. ‘It is impossible to do business sustainably without innovation – and innovation means liberal operating conditions. Sustainability goals will not be reached through prohibitions alone,’ Arbter stresses. The SIA has also made a commitment to provide regular and transparent reports on the implementation of its sustainability efforts. This takes the form of the Swiss insurance industry’s sustainability report, which was published for the second time this year.
The Net-Zero Asset Owner Alliance is a network of 46 institutional investors committed to reducing CO2 emissions in their portfolios to net zero by 2050. They include some of the largest investors in the world. The members, who represent assets under management totalling USD 6.7 trillion, also include many insurance companies operating in the Swiss market. ‘We very much welcome the SIA as a supporter of the UN-convened Net-Zero Asset Owner Alliance. Growing the participation of insurance companies in the Alliance’s journey to net zero emissions by 2050 at the latest and the interim target-setting every five years is essential. We would be happy if the SIA’s support encourages new members from Switzerland,’ says Günther Thallinger, Chairperson of the Net-Zero Asset Owner Alliance, about the SIA’s decision to support the Alliance.
Note to editors
The Swiss Insurance Association (SIA) represents the interests of the private insurance industry at the national and international level. The association comprises around 70 primary insurers and reinsurers employing a workforce of 47,000 people in Switzerland. Overall, the member companies of the SIA account for about 85 per cent of insurance premiums generated in the Swiss market. This makes the insurance industry and thus the SIA a major force in the Swiss economy. Private insurers are therefore committed to the successful development of the areas in which they operate, both in business and in social and political terms, and thus assume economic responsibility.
Swiss Insurance Association SIA
Lisa Schaller, media spokesperson
Phone: +41 44 208 28 56
Email: lisa [dot] schallersvv [dot] ch
Head office phone: +41 44 208 28 28