Länsförsäkringar Liv signs global climate appeal calling for increase in ambition and pace of climate work

20 September 2021

Net Zero by 2050

Länsförsäkringar Liv (Life) has signed The Investor Agenda’s Global Investor Statement to Governments on the Climate Crisis. This is a global climate appeal calling for the ambition and pace of climate work to increase. The call contains five demands and is aimed at governments around the world ahead of the COP26 climate summit. It has been signed by 587 investors with the equivalent of USD 46 trillion under management. Länsförsäkringar Liv is part of the Länsförsäkringar group, a Swedish ICMIF member.

The call, launched by The Investor Agenda, which in turn was founded by a number of different investor initiatives, has five overarching demands on governments’ climate work. These are:

  1. Sharpen national emissions targets by 2030 ahead of the COP26 Climate Summit later this year, with the aim of limiting global warming to 1.5 degrees and reaching net-zero emissions by 2050.
  2. Commit to net-zero emissions by 2050 and develop roadmaps with intermediate goals on the way there.
  3. Implement national initiatives and regulations to achieve climate goals, enable investments in climate-efficient technology and ensure ambitious measures concerning, for example, the price of CO2 emissions before 2030.
  4. Ensure that the initiatives and restart packages launched as a result of the Covid-19 pandemic support the goals of the Paris Agreement and contribute to change.
  5. Commit to introducing mandatory climate reporting requirements in line with TCFD’s recommendations (“Task Force on Climate-related Financial Disclosures”).

The call’s message of limiting global warming to 1.5 degrees overlaps with Länsförsäkringar’s own climate-smart vision and its work focused on the climate issues involved in management and ongoing advocacy work. The vision means that Länsförsäkringar Liv portfolios will have an emission level in 2030 that is in line with the Paris Agreement’s goal of limiting global warming to 1.5˚C. Based on current targets, the portfolios’ CO2 footprint will be reduced by an average of 7 percent per year.

The founding partners of The Investor Agenda are seven major groups working with investors: Asia Investor Group on Climate Change, CDP, Ceres, Investor Group on Climate Change, Institutional Investors Group on Climate Change, Principles for Responsible Investment and UNEP Finance Initiative.

Other ICMIF members which have signed the global climate appeal are Folksam (Sweden), Royal London (UK), Unipol Group (Italy). In addition, the investment management business of Achmea (Netherlands) and LocalTapiola (Finland) are also signatories.

For member-only strategic content on the cooperative/mutual insurance sector, ICMIF members have exclusive access to a range of online resources through the ICMIF Knowledge Hub.

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