Swiss insurer invests $1B to fight global warming
Wednesday, November 20, 2013
Zurich Insurance is investing $1 billion to fight climate change in a sign of growing demand for socially conscious investing.
The Swiss financial services group plans to invest about 0.5% of its $200 billion portfolio in green bonds issued by the World Bank and other institutions to support sustainable growth and development without sacrificing financial returns.
“This is a first step,” said a spokesperson for the firm. “Zurich will consider making further allocations, also to non-dollar denominated green bonds, once it has evaluated its initial investment.”