Raw: [
Zurich Insurance Group has decided that it will no longer Science Based Targets initiative (SBTi) […]]
Zurich Decides to Drop Pursuit of SBTi Validation of Net Zero Goals – ESG Today
ESG Investing, sustainable finance & business sustainability news
ESG investing news, analysis, research and information
Top Stories ESG News
Companies
Government
Investors
Regulators
Sustainable Finance
ESG Solutions ESG Tools, Services
Companies Companies
Investors Investors
ESG Disclosure ESG Reporting
Analysis
Regulators
Reports, Studies
Newsfeed
Resources
Events
About About us
Our Team
Advertise With Us
Companies/ Sustainable Finance
Zurich Decides to Drop Pursuit of SBTi Validation of Net Zero Goals
Mark Segal
November 11, 2025
Zurich Insurance Group has decided that it will no longer Science Based Targets initiative (SBTi) validation for its climate targets under the SBTi’s finance-specific standard. Despite dropping its pursuit of SBTi validation, however, the company said that it has not changed its net zero goals.
While Zurich did not specify reasons for its decision, the announcement follows the recent launch of a campaign by anti-ESG politicians in the U.S. warning the SBTi and its financial sector participants about potential violations of antitrust, consumer protection and other laws from participation in the net zero group, after the SBTi’s release of its Financial Institutions Net-Zero (FINZ) Standard .
Zurich announced its initial net zero goal in 2019, with commitments to become a net zero business by 2050 across its insurance business, investments and operations. The company launched its first Climate Transition Plan in 2024, outlining its plan to carry out its 2050 commitment. Notably, one of the company’s climate-related supply chain goals is to have 75% of its managed procurement spend by 2025 with suppliers that have science-based emissions reduction targets approved by the SBTi or a similar body.
In a statement provided to ESG Today, the company said:
“Zurich confirms that it has decided not to pursue target validation under the current SBTi FINZ standard. Our net-zero ambitions remain unchanged, and we are fully committed to our Climate Transition Plan.”
The SBTi released its Financial Institutions Net-Zero (FINZ) Standard in July 2025, aimed at enabling financial firms to set net zero-aligned targets for their lending, investing, insurance and capital markets activities. Among the key requirements set out for financial institutions to achieve goals aligned with the new standard is the publication of a “fossil fuel transparency policy,” requiring financial institutions to publish policies to immediately end project finance explicitly linked to fossil fuel expansion activities and general purpose finance of companies involved in coal expansion, end general purpose finance to oil and gas companies involved in expansion by 2030, and to transition portfolio energy activities to net zero by 2050.
In August, 23 U.S. State Attorneys General published a letter citing “grave concerns about these types of arrangements and commitments,” and warning that the SBTi, and financial institutions that commit to the SBTi standards “risk violating federal and state antitrust laws as well as state consumer protection laws” by implicitly colluding “to cut off funding and insurance to the oil and gas industry.”
Zurich’s announcement follows a similar decision by Swiss Re in September.
Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.
Related Posts
Companies /
Apple Invests in Renewable Energy, Forest Projects in Australia and New Zealand
Sustainable Finance /
ECB Fines Spanish Bank ABANCA for Not Meeting Climate Risk Expectations
Companies /
Nike Signs Deals for Recycled Materials with Cleantech Startups Syre, Loop
‹ ECB Fines Spanish Bank ABANCA for Not Meeting Climate Risk Expectations
ESG Today Newsletter – Subscribe
Subscribe to the ESG Today NewsletterJoin our mailing list for our latest breaking news!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsR & DProcurement & ContractingSupply Chain & DistributionSustainabilityStrategyTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Sustainable Finance
Zurich Decides to Drop Pursuit of SBTi Validation of Net Zero Goals
ECB Fines Spanish Bank ABANCA for Not Meeting Climate Risk Expectations
IDB Issues Inaugural “Amazonia Bond” to Fund High-Impact Environmental, Social Projects
ICMA Launches Climate Transition Bond Label
Government
Singapore Introduces Sustainable Aviation Fuel Fee for All Departing Passengers
More than 20 Airlines to Change Environmental Claims After Greenwashing Investigation
EU Commission to Invest Over $3 Billion to Jumpstart Sustainable Transport Fuel Sector
EU States Reach Compromise Deal on 2040 Climate Target with Bigger Role for Carbon Credits
Categories
Select Category
Companies
Energy Transition
Environment
ESG Reporting
ESG Tools, Services
Executive Moves
Governance
Government
Guest Posts
Investors
M&A
New funds & products
Platforms & Markets
Private Equity & Venture Capital
Professional bodies
Regulators
Reports, Studies
Social
Social & Governance
Sustainable Finance
Back to Top
Home
About us
Disclosure, cookies & privacy policy
© ESG Today 2025
Don’t miss the top ESG stories!Join the ESG Today daily newsletter and get all the top ESG stories, like this one.
Subscribe now below!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsProcurement & ContractingR & DStrategySupply Chain & DistributionSustainabilityTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Never miss the latest breaking ESG investment news. Get ESG Today’s newsletter today!
Subscribe Now
c