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Hannover Re Commits To Achieve Net-zero Emissions In Business Operations By 2030

Hannover Re said it is committing to achieve net zero emissions in business operations by 2030 and in its reinsurance portfolio and investments by 2050.

The company joined Net-Zero Insurance Alliance and commits to net zero target by 2050 in reinsurance business.

As part of its exit plan for thermal coal, Hannover Re said it already began to open a dialogue with its clients last year in obligatory reinsurance. It will be pivotal to accomplishing the complete withdrawal from coverage of risks connected with the mining of and power generation from thermal coal by the year 2038 in the entire property and casualty reinsurance portfolio - a move that was decided on in 2019.

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