a.s.r. sets interim 2030 net zero targets for non-life insurance portfolio
Today, a.s.r. publishes interim net zero targets for 2030 for its non-life insurance portfolio. These targets are part of the commitment signed by a.s.r. as a member of the Net Zero Insurance Alliance (NZIA) to make its entire insurance portfolio emission neutral by 2050. a.s.r. sets three interim targets based on the NZIA’s Target Setting Protocol.
The NZIA was established in July 2021 and initiated by the UN and the international insurance industry. The alliance brings together insurers and reinsurers to make an individual contribution to accelerating the transition to net-zero emissions economies.
a.s.r. joined the NZIA in December 2021 and signed the net-zero commitment. In doing so, a.s.r. committed to transforming its individual insurance portfolios to zero emissions by 2050, equivalent to a maximum temperature rise by 2100 of 1.5°C above pre-industrial levels.
In January 2023, the alliance’s first Target Setting Protocol (TSP) was launched. The TSP provides guidance on which target categories and target types targets can be set. a.s.r. has set three interim targets for 2030:
- Emission reduction: 26 percent absolute reduction in emissions in 2030 compared to 2022. This applies to the business and private passenger car portfolio combined.
- Engagement: encourage approximately 350,000 business and residential non-life customers in the 2022-2030 period to set carbon reduction targets.
- Transition: 21 percent increase in gross written premium related to climate solutions in 2030 compared to 2022.
The Target Setting Protocol became a Target Setting Guidance
The TSP was recently converted to a more non-binding Target Setting Guidance in which the deadlines for setting and publishing the first interim targets were left to individual insurers. For more information on the introduction at the time of the TSP, go to: a.s.r. website.
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