Courtesy of amazon, created by ENERGYminute It was a particularly tough week for former bank governor turned climate finance leader Mark Carney and the Net Zero Insurance Alliance (NZIA).

Background: The NZIA was formed in 2021 when many of the world’s largest insurance companies banded together to set targets for their portfolios that align to a net-zero emissions target for 2050. Sounds great, right?

Not to everyone

US Republican lawmakers have been suggesting that the collective commitments of NZIA members may violate federal and state antitrust laws. • That's not ideal, because if there’s one thing that insurance companies like more than the climate, it’s the ability to make money in the largest insurance market in the world. Exiting, stage left: AXA, Allianz and SCOR all quit the NZIA this week to “continue [their] individual climate journey[s]," following in the footsteps of Swiss Re, Munich Re, Zurich Insurance, and Hannover Re. • Twenty three members remain, though some are expressing similar concerns. Zoom out: Climate policy is currently walking a fine line between making an impact while not whipping up too much political opposition.