ZURVY Zurich Insurance Group Limited (QX)

   By Ed Frankl 
 

Zurich Insurance Group AG said Thursday it would bring forward by 20 years its target to achieve net-zero emissions in its operations.

The Swiss insurance company said it will now aim to reach its goal by 2030 rather than 2050, after implementing plans to achieve deep cuts in absolute emissions this decade.

Zurich said it made advance payments to companies that work to remove carbon from the atmosphere to help them further develop, scale and commercialize their technology.

The carbon-removal companies are InterEarth from Australia, Puerto-Rico based Bio Restorative Ideas, and Oregon Biochar Solutions, Zurich said.

In March 2021, the company said it would target cutting emissions from operations by 50% by 2025 and 70% by 2029.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

March 31, 2022 04:27 ET (08:27 GMT)

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