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SUSTAINABILITY HUB

Industry commitments,

alliances & coalitions

Insurers play a key role in supporting the transition to a net-zero economy. They lead and participate in many sustainability-related coalitions and alliances aimed at embedding sustainability objectives in both their investments and their underwriting, such as the UN-convened Net-Zero Insurance Alliance and the Net-Zero Asset Owner Alliance. These show how key insurers — in their roles as risk managers, insurers, investors, and underwriters — are in supporting the transition to a net-zero economy. Here are just a few examples from across the EU.

Alliances

Examples

Commitments

Examples

Alliances

Commitments

Examples

Examples


  • Furthermore, together with other Spanish financial associations, UNESPA founded the Spanish Centre for Sustainable and Responsible Finance (FINRESP), part of the International Network of Financial Centres for Sustainability (FC4S).


  • The Danish insurance and pension sector has, in cooperation with Finance Denmark, the association for the lending sector, adopted a model to calculate CO2 emissions from all loans and investments.

    Moreover, Insurance & Pension Denmark participates in the Nordic Energy Efficient Mortgage Hub, which aims to help financial institutions scale up lending through energy-efficient mortgages to comply with the investment needs in the Paris Agreement, the EU Green Deal and national targets.

    As a member of the Danish business community, the insurance industry also established, in collaboration with the Danish government, the Financial Climate Partnership to ensure financial sector collaboration in the transition to sustainability. The Partnership has resulted in a roadmap and recommendations on how to reduce the sector’s emissions.

    Insurance & Pension Denmark launched the Climate Political Initiative, issuing 13 green proposals that sum up the industry’s activities to realise the green transition and to pinpoint areas where regulatory requirements need to be improved to ensure the industry can play its role.

  • Like many French insurance companies, the French insurance association (France Assureurs) has joined the Net-Zero Asset Owner Alliance as a supporting partner and is a signatory to the UN Principles for Responsible Investment.

  • The Greek insurance association (HAIC) supports “LIFE-IP AdaptInGR”, an EU project that aims to boost the implementation of the Greek climate change adaptation strategy at national, regional and local level. The project, which started in 2019, is coordinated by the Greek Ministry of Environment and Energy and involves 18 partners. HAIC and its member companies contribute by sharing experience of adaptive practices, prevention and risk mitigation measures, and of how to ensure the right incentives are put in place for the prevention of climate risks, of the provision of information on the financial dimensions of the risks covered, and of sustainable investment.


  • Insurance Europe is a member of the Green Recovery Alliance of Pascal Canfin MEP, which brings together MEPs, civil society groups, CEOs and business associations to work towards sustainable post-COVID-19 recovery.

    Insurance Europe is also a supporter of the UN-convened Net-Zero Asset Owner Alliance as well as a signatory to the UN Principles of Sustainable Insurance (PSI).

  • The German insurance association (GDV) is committed to operating climate-neutrally by 2025. It was awarded a bronze “bike-friendly employer certificate” (2021) by the Allgemeine Deutsche Fahrrad-Club (ADFC) and offers a bike-leasing scheme to its employees.

  • Several Dutch insurers have signed up to a voluntary national climate commitment, pledging to contribute to realising the goals of the Paris Agreement and the Dutch Climate Agreement. Dutch insurers also committed to the mandatory reporting of the climate impact of their loans and investments (from 2020 onwards). In addition, Dutch insurers agreed to have action plans in place by 2022 for reducing their own climate impact.

  • The Dutch insurance association (VVN) has joined the Climate Adaptation Standards Consultation (OSKA). The importance of climate change adaptation is often not reflected in standards, which are of paramount importance in the design, construction and maintenance of buildings, infrastructure and public spaces. By engaging in conversations and collaboration with a broad range of different parties, OSKA seeks to change this and encourage the inclusion in standards of new knowledge on the effects of climate change.

  • Some Swedish insurers have set targets acknowledged by the Science Based Targets initiative (SBTi). The SBTi is a partnership that aims to mobilise the private sector to take the lead on climate action. The initiative defines and promotes best practice in emissions reductions. It also provides technical assistance to companies committed to science-based targets in line with the latest climate science.

  • Many insurance companies and associations have committed to reducing their CO2 emissions. Some companies have publicly committed to significantly reducing air travel for employees.

  • To support bee conservation and honey production, one Croatian insurer has leased beehives at the "First Croatian Hotel for Bees" on the Balja family farm. Over a three-year partnership, the insurer’s honey will be featured at green events and some will be donated to the SOS Children's Village – Youth Community. This initiative aims to help preserve the declining bee population.

  • Since 2022, a Croatian insurer has leased two gardens at the Gruntek family farm, donating all the harvested vegetables to SOS Children's Village, which cares for abandoned children. This initiative provides SOS Youth Communities with nearly six months of fresh vegetables. The gardens, supported by Green Future – Life Insurance policies, combine organic farming, environmental protection and charity. The insurer has supported SOS Children's Village for over 10 years, further enhancing the partnership with this farm project in the past three years.

  • One Croatian insurer launched the "Pass it on" campaign to promote a sustainable lifestyle among employees by encouraging them to reuse and share items they no longer need, addressing the environmental impact of fast fashion and overconsumption.

  • Some Irish insurers have committed to offset carbon production by planting trees and funding wind, hydro and solar projects.

  • A Slovak insurance company has partnered with a service provider that specialises in secure document shredding to promote recycling and reduce paper waste. Additionally, to further reduce its environmental impact, the use of plastic bottles has been banned in the workplace.

  • In April 2024, a Slovak insurance company organised a collection of used prescription glasses and sunglasses from employees. After cleaning and repairing these items, they were donated to individuals in need, supporting sustainable and responsible consumption. Items deemed beyond repair were disposed of in an environmentally responsible way.

  • One Polish insurance company aims to reduce its CO2 emissions by 2030 by further lowering its carbon footprint in scope 1 – specifically through the systematic expansion of its fleet with hybrid and electric vehicles – and maintaining full climate neutrality in its operations (scopes 1 and 2). By 2040, the company plans for its key partners and subcontractors to achieve climate neutrality. By 2050, it aims for the operations of all its insurance clients and investments to be climate neutral. -