The Insurance Industry Says It Will Be Leaving the Paris Climate Agreement
The Insurance and Insurer Businesses Association says it is leaving the Paris climate accord, citing its concerns over the economic impact and the risk of the agreement’s implementation.
The American Insurance Association (AIA) released a statement Monday, saying it believes the United States is “at a critical juncture in its energy transition” and the Paris agreement is “likely to be a nonstarter.”
The organization said it is “concerned” about the economic impacts and risks of the Paris accord, and that the American people need to have a say in the outcome.
The AIA said that the group has been working to “support a wide range of stakeholders on climate action and related policy and political issues in the United Kingdom, and we are committed to working in a bipartisan fashion to ensure that the U.K. and the U.”
remain on track to meet our commitments under the Paris Agreement.”AIA president and CEO Robert Calvert said in a statement that the organization “will continue to advocate for a responsible, fair, and sustainable energy future for our country.
“The statement did not address whether the group would move its business operations to the U., and whether the AIA’s members would benefit.