Global companies that form alliances to help them to tackle climate change need clear 'safe harbour' guidelines from governments to allay fears they could be tripped up by antitrust rules, legal experts said.
that it was leaving the group - the Net Zero Insurance Alliance - to avoid antitrust risks.
"There should be confirmation in the guidance coming out of antitrust agencies to re-assure companies committing to GFANZ," he said.said it could quit the Net Zero Asset Owner Alliance because of a perceived lack of ambition among peers, which several sources said stemmed from fears of attracting antitrust lawsuits.
Businesses can get exemptions if they demonstrate a climate change agreement between companies meets four conditions, including provision of benefits such as promotion of economic progress and that consumers will gain.have highlighted the potential antitrust implications of these climate groups. Keith Johnson, CEO of Global Investor Collaboration Services in Minnesota, who advises asset managers and owners on fiduciary duties and governance, said Republicans may not have much legal ground for their arguments but they might still get executives to dial back their ESG efforts.
The Net Zero Asset Owner Alliance , which Munich Re also belongs to, has 85 members managing $11 trillion againstin global invested assets. Munich Re said given that ratio, the associated risks were "significantly lower," Reuters contacted its 17 other members, three of which confirmed they would remain members. The other 14 declined to comment or did not respond to requests for comment.said it remained committed to NZIA as achieving net zero was "something companies cannot do in isolation".said the net-zero alliances were world-leading in their efforts to mitigate climate change and that it continued to chair the NZAOA.
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