(Reuters) — Reinsurer Swiss Re on Monday became the latest major company to leave a global climate alliance focused on reducing emissions that has faced growing political pressure in the United States.
Swiss Re said in an email that it had decided to leave the Net-Zero Insurance Alliance, without giving a reason for the decision.
The move to leave NZIA, part of the Glasgow Financial Alliance for Net Zero set up by UN climate envoy Mark Carney, follows the exit of members Munich Re at the end of March and Zurich Insurance and Hannover in April.
“Our commitment to our sustainability strategy remains unchanged,” Swiss Re said in an emailed statement.
A spokesperson declined further comment.
While Zurich had said it was leaving to focus on helping clients transition to a low-carbon economy, Munich Re said it was leaving because of antitrust concerns.
The charge that companies in such climate alliances could violate antitrust laws by adapting their policies has increasingly been made by Republican politicians in some US states as part of a pushback against sustainability efforts.