Climate change protesters in Stockholm / Getty Images A group of Republican state attorneys general sent a letter in May to a United Nations-backed climate coalition, the Net-Zero Insurance Alliance, warning that it could be in violation of U.S. antitrust laws. Within weeks, nearly half of the alliance’s members bolted, leaving the climate project in disarray. The remarkable and swift collapse of a group whose members included the world’s top insurance companies—collectively holding over $3 trillion in assets—appeared to happen overnight. In reality, it was the result of a sustained, two-year legal battle led by Republican attorneys general across the United States who mounted one of the most effective challenges yet to the Environmental, Social and Corporate Governance (ESG) movement.
The turmoil at the Insurance Alliance followed investigations launched by state attorneys general into two other UN-backed industry coalitions, the Net Zero Asset Managers Initiative and the Net Zero […]
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