The U.N.-convened Net-Zero Insurance Alliance (NZIA) is set to remove a six-month deadline for members to publish greenhouse gas emissions targets alongside other changes to make membership less prescriptive, the sources said.
The hope is to "steady the ship" and create space for ex-members to consider returning later, they said.
The changes under discussion have not been finalised, the sources said, and it's not clear how the alliance would deal with insurers that drag their feet in publishing targets.
Remaining members believe the NZIA still has a valuable role, and point to methodologies it developed for assessing and reporting on underwriting-linked emissions.
France's AXA, which chaired the NZIA before quitting in May, last week published its first emissions goals for its insurance portfolio.
Persons:
Italy's, Peter Bosshard, Bosshard, Canada's Beneva, Tommy Reggiori Wilkes, Greg Roumeliotis, Simon Jessop, Emelia, David Evans
Organizations:
Zero Insurance Alliance, United, Zero Insurance, AXA, Tokio, Republican, Glasgow Financial Alliance, Aviva, Alliance, Insurance Australia Group, France's AXA, Thomson
Locations:
United Nations, London, United States, U.S