This paper considers art. 2.1(c) of the Paris Agreement (finance flows alignment) and the 2500 investment treaties in force. Investment treaties (including investment provisions in trade agreements) typically provide covered investors from all economic sectors with insurance-type coverage for certain risks. The paper describes increasing climate disclosure requirements, the notions of financed and insured emissions, and the growth of public and private sector net zero commitments — including for insurance portfolios. The extensive finance flows associated with investment treaties, their climate impacts and the lack of alignment of investment treaty portfolios of covered investors with climate goals are noted.