Lloyd’s of London pulls out of U.N.-backed climate alliance

By Tommy Wilkes

NEW YORK (Reuters) – Lloyd’s of London said in a statement of Friday it had withdrawn from the United Nations-backed Net-Zero Insurance Alliance, the latest in a string of firms to have done so this week amid concerns about the political and regulatory risks of membership.

“We continue to support the United Nations’ Principles for Sustainable Insurance and Sustainable Development Goals, and remain committed to delivering our sustainability strategy including supporting the global economy’s transition,” Lloyd’s of London said.

(Reporting by Tommy Wilkes in London; Editing by Greg Roumeliotis)