Zurich Insurance: Driving Systemic Change
Zurich Insurance Company Ltd became the first insurer, in 2019, to sign the “Business Ambition for 1.5°C Pledge” to limit global warming. It’s since pressed ahead with its own #climate goals. Fresh news out also sees the company upping the ante now for its commercial clients.
Over the next two years, Zurich will be targeting the companies that produce the majority of its portfolio’s #emissions, and actively engaging to set reduction goals.
The Board has taken a clear view that #engagement with these clients, rather than divesting of them, is the right approach.
- engaging means greater chance of continued partnership with these companies, thus a commercially sensible approach
- there will be consquences: “Should engagement fail...Zurich will vote against board members at shareholder meetings.”
- most importantly, the approach sees Zurich using its position to drive #systemicchange toward a #netzero #future, using its “influence as a global insurer and investor” as Group CEO Mario Greco said, to build toward #sustainability.
Bob Dylan once said “The times they are a-changin’."
Here’s to #leadership with purpose, with a grasping the nettle and facing into those changing times.
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