Under a newly launched initiative, Zurich Financial Services Group has established an internal office that will oversee the study and understanding of climate-related risks across all of its businesses. As part of the initiative, it has established an advisory council who will report to ZFS’s group management on strategic and operational issues relating to climate change.
Former Congressman Sherwood Boehlert and the dean of the University of California’s Donald Bren School of Environmental Science and Management, Ernst Ulrich von Weizsacker, are the first two members named to the council.
In a statement, the insurer said that ZFS will partner with various organizations to examine economic, financial and policy issues pertaining to climate change. It will begin by partnering with the Bren School to assess its own carbon footprint so that it can reduce its own emissions to a sustainable level.