November 29, 2018 09:30
Photo : Freepik
For the Co-operators, climate change constitutes ” the greatest challenge of our time “. For this reason, the company has made 13 commitments in favour of the climate.
The main commitment made by the co-op is its desire to be carbon neutral by 2020. The insurer noted that it has managed to reduce its net carbon emissions by 81% compared to 2010.
The Co-operators has also revealed to have joined the working Group on the financial information relating to climate change, established by the financial stability Board. This means that the insurer makes the commitment to implement the recommendations of this group.
Role of industry
“There is an urgent need to tackle the causes and impacts of climate change by taking measures of mitigation and adaptation. There is compelling evidence that the current pace of climate change around the world is in large part attributable to human activities, ” wrote the authors of the report.
“The Co-operators believes that we, as a company, and the insurance industry in general, have a unique and important role to play in the fight against climate change because of our expertise in terms of definition, assessment and mitigation of risks “, one can read in the full version of its commitment to the climate.
Among the 13 commitments of the Co-operators, there is also a support for the Paris agreement and its goal of keeping the global temperature increase to two degrees Celsius. In addition, the climatic factors will be systematically integrated in its investment decisions, but also in the design of its products.