The UN-led and convened Forum for Insurance Transition to Net Zero (FIT) is a new structured dialogue and multistakeholder forum to support the necessary acceleration and scaling up of voluntary climate action by the insurance industry and key stakeholders.
Chaired by the UN Environment Programme (UNEP), the FIT will work with insurance market participants (e.g. insurers, reinsurers, brokers) and engage with insurance regulators and supervisors, net-zero standard-setters and initiatives, the scientific and academic community, civil society, and other key stakeholders (e.g. sustainability disclosure initiatives, real economy actors).
The creation of the FIT is a major new opportunity for UNEP, the insurance industry and key stakeholders to advance net-zero insurance thinking and practices. The FIT takes into account the experience gained with the Net-Zero Insurance Alliance (NZIA) that first transformed net-zero insurance from theory to practice.
Initial priorities for the FIT include:
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Advancing frameworks for net-zero insurance metrics and voluntary targets, and developing new net-zero insurance concepts |  |
Developing a net-zero transition plan framework for insurance market participants |
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Engaging with the real economy on the development of net-zero transition plans by corporates across different sectors |  |
Tackling challenges and opportunities to develop insurance solutions and taxonomies that would support the net-zero transition |
The aim is to foster availability of insurance and finance for transition projects and technologies and net-zero activities.
Through the FIT, UNEP will deepen and strengthen its commitment to work with the global insurance industry and key stakeholders to support the acceleration and scaling up of the transition to a net-zero economy, as part of the solution to the global climate crisis and the vision of a resilient, sustainable, and prosperous future for all.
The FIT will seek input on its activities from two separate independent consultative groups:
- FIT Consultative Group of Insurance Regulators & Supervisors
- FIT Consultative Group on Science, Research & Civil Society
The work of the FIT will also be guided by a legal team experts on antitrust and competition laws, sustainability, insurance and finance, among other core areas of expertise, from three leading global law firms:
FIT Legal Counsel: Freshfields Bruckhaus Deringer LLP
- Martin McElwee, Partner, Freshfields Bruckhaus Deringer LLP (London/Brussels)
- Justin Stewart-Teitelbaum, Partner, Freshfields Bruckhaus Deringer US LLP (Washington DC)
- Francesca Triggs, Associate, Freshfields Bruckhaus Deringer LLP (London)
- Tina LaRitz, Associate, Freshfields Bruckhaus Deringer US LLP (New York)
FIT Special Legal Advisors (serving on individual capacity):
- Maurits Dolmans, Senior Counsel, Cleary Gottlieb Steen & Hamilton LLP (London/Brussels)
- Ian Giles, Partner, Norton Rose Fulbright LLP (London/Brussels)