Bloomberg Law
May 26, 2023, 4:05 PM

World’s Biggest Green Finance Club Rebukes Political Attacks (1)

Alastair Marsh
Alastair Marsh
Bloomberg News

The world’s biggest climate finance coalition has spoken out against the increasingly aggressive political attacks on ESG, after Republican Party threats triggered a mass exodus from a sub-alliance for insurers.

“These political attacks are now interfering with insurers’ independent efforts to price climate risk, which will harm policyholders, main street investors and local economies,” a spokesperson for the Glasgow Financial Alliance for Net Zero told Bloomberg.

The comments follow a string of departures from the GFANZ sub-group, the Net Zero Insurance Alliance. On Thursday, Allianz SE, Axa SA and Scor SE all walked out of the NZIA, following ...

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