This inaugural Protocol outlines NZIA’s recommended approach to target-setting and reporting, as well as how the Protocol is expected evolve in the future.
The UN-convened Net-Zero Insurance Alliance (NZIA) has launched a
public consultation on the Alliance’s first Target-Setting Protocol.
Version 1.0 of the Protocol will enable NZIA members to begin to
independently set science-based, interim decarbonisation targets for
their respective insurance and reinsurance underwriting portfolios in
line with a net-zero transition pathway that would limit global warming
this century to 1.5° C.
The Protocol builds on the upcoming launch of the first-ever global
accounting standard to measure greenhouse gas emissions associated to
insurance portfolios (“insurance-associated emissions”) developed by the
Partnership for Carbon Accounting Financials (PCAF) in collaboration
with the NZIA.
The NZIA also recently announced that the Alliance will continue to
collaborate with the Science Based Targets Initiative (SBTi) on the
development of the NZIA Target-Setting Protocol in line with SBTi’s
upcoming Financial Institution Net-Zero Standard (FINZ).
The final Version 1.0 of the NZIA Target-Setting Protocol will be
launched in January 2023. Existing NZIA members will then set and
disclose their initial targets by July 2023.
The public consultation process is an opportunity for the wider
insurance industry (e.g. other re/insurers, brokers, insurance
associations and initiatives) and key stakeholders (e.g. insurance
regulators and supervisors, rating agencies, policymakers, civil society
organisations/NGOs) to provide feedback on this Version 1.0 of the NZIA
Target-Setting Protocol.
Please click here to read the full Version 1.0 of the NZIA Target Setting Protocol
Please click here to complete the consultation survey (a PDF of the survey questions will be available here)
UN EP FI
© UNEP
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article