Seventy-eight per cent of German primary insurers’ investments are covered by a decarbonisation goal, a significant decline from last year’s figure of 91%, according to the German Insurance Association, GDV.
The association said this reduction could be connected to the insurers that said they were planning to restrict their communications on sustainability matters under EmpCo, the Empowering Consumers for the Green Transition directive.
Of the insurers with a 2030 target, the GDV found that 30% are on track, and 36% said they were doing better than expected.
Since the association began to track the carbon footprint of insurers’ investments in 2023, the intensity of equity, bond and real estate portfolio – covering €363.3bn in assets – has declined by more than one-quarter.
“Overall, sustainability and climate protection have unfortunately lost political importance, even though the facts speak for themselves,” Jörg Asmussen, CEO of the association, said.
“Adapting to the consequences of climate change is becoming an urgent task in many places much faster than previously thought. We can no longer afford a hesitant climate policy.”
