Insurers face backlash and retreat from ESG and climate initiatives.

European insurers are leaving the UN-convened Net-Zero Insurance Alliance due to concerns that antitrust allegations from Republican policymakers could hurt their businesses. Texas is set to become the first state to bar insurers from considering environmental, social, and governance factors in setting rates. BlackRock investors voted against a resolution that would have had the asset manager compile a report on decarbonizing the real economy. Alaska Governor signed a bill authorizing state land to be used for carbon offset credits. California legislation that would compel the nation's two largest pension funds to divest from fossil fuels by 2031 passed the Senate.