
Financial companies from Germany are readjusting their sustainability policies amid the US government’s anti-climate action activities. Reinsurance company Munich RE announced its departure from the pro-climate action industry groups Net-Zero Asset Owner Alliance, Net-Zero Asset Managers Initiative, Climate Action 100+ and Institutional Investors Group on Climate Change, the Süddeutsche Zeitung reported. The world’s largest reinsurer has for years been at the forefront of financial institutions warning against the dangers of global warming for its own business model as well as for society in general, and was one of the first to take part in many industry initiatives to better anchor sustainability in the finance industry.
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