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LONDON (Reuters) - Zurich Insurance Group is withdrawing from the Net Zero Insurance Alliance, the insurer said on Wednesday, becoming the second big insurer to quit the climate coalition after Munich Re said it was leaving last week.
"After establishing a standardized methodology for measuring and disclosing greenhouse gas (GHG) emissions associated to insurance and reinsurance underwriting portfolios, we want to focus our resources to support our customers with their transition," a spokesperson for Zurich said.
"We continue to remain fully committed to our sustainability ambitions and to supporting the net-zero transition."
(Reporting by Virginia Furness; Editing by Tommy Reggiori Wilkes)