Epoch Times
Insurance company Lloyd’s of London has announced its exit from a net-zero alliance for insurers—the sixth such organization to have pulled out from the initiative within a week.
The Net-Zero Insurance Alliance (NZIA), convened by the United Nations, seeks to commit group members, composed of the world’s leading insurers and reinsurers, to fighting climate change. As part of this, members have to transition their insurance and reinsurance underwriting portfolios to net-zero greenhouse gas (GHG) emissions by 2050. On Friday, Lloyd’s of London quit the NZIA. This took the total number of members who have quit NZIA this week alone to six, which represents a fifth of the organization’s total of 30 members. Since March, a total of 10 members have quit NZIA.
The exodus of major insurance companies has raised questions about NZIA’s viability. None of the six firms that quit this week have made it clear why they left the initiative.
The insurance firms are said to have decided to pull out due to concerns about getting embroiled in disputes about net-zero initiatives in the United States. On May 15, attorneys generals from 23 American states sent a letter to 28 insurance companies asking for information about potential violations of antitrust laws. more
If you have more than seven functioning brain cells you don’t need clarification.
Is it a coincidence that NZIA rearranged spells NAZI? Hmmmm…
had lloyds of london homeowners policy. cancelled after one year. best to stay away from all corporate markets. organize self insure and be self reliant as much as possible. send a message to corporate america, we will take our money elsewhere. i have a garden and refuse to sell vegetables. i tell friends and family the excess veggies are not for sale, but i will trade for fruits and veggies or what have you. this plants the seed of self reliance and makes for like minded individuals. i do not trade by weight, i trade by diversity. say 5lbs of tomatoes for a bunch of herbs to homemade bar soap to some odd job to a chunk of steel.
Please dear God, destroy the UN before it rules over the entire world and every person on it.
The primary obligation of companies like Lloyds is a fiduciary one. Their first priority is maximizing shareholder value. For a board to choose otherwise is to go against their shareholders, unless the shareholders expressly ask them to do so.
Our church foundation asked the question of avoiding stocks of companies like cigarette manufacturers. That was essentially the response – our responsibility is not to police companies but to make the best investment decisions.