Swiss Re’s commitment to renewable energy is driven by a desire to take a leadership position on mitigating climate change emissions; reducing the company’s carbon footprint and helping society build resilience to a more severe climate.
Tackling climate change has been a priority for Swiss Re for more than 25 years. The company is constantly seeking ways to reduce carbon emissions from its own operations, but it is also extremely focused on providing research and financial products that help its clients mitigate and respond to the consequences of extreme weather events such as hurricanes, droughts and flooding that may be increasing as a result of climate change.
Swiss Re launched its Greenhouse Neutral Programme in 2003 which committed the company to become carbon neutral. This goal was extended in 2007 with the target to use renewable power wherever possible throughout the company's global operations.
Under the Greenhouse Neutral Programme, the original target was to reduce its own carbon emissions by 15% per employee, and to compensate the remainder through the retirement of high quality emission reduction certificates. The reduction target has been increased three times since 2003. By 2013, a total reduction in CO₂ emissions per employee of 49.3% had been achieved compared to the 2003 base year. The program remains in force.
Swiss Re’s commitment to purchasing renewable energy wherever possible has enabled them to currently source about 80% of total power requirement from renewable power.
Through RE100 Swiss Re aims to encourage production of renewable energy generation in its key existing and future markets and thereby contribute to improving availability of low carbon electricity across the globe.
In 2003 Swiss Re launched its Greenhouse Neutral Programme which committed the company to go carbon neutral within 10 years' time.
In 2007 Swiss Re committed to purchasing as much high-quality renewable energy for all of its office locations possible.
In 2007 Swiss Re launched its COyou2 Programme, which provides employees access to subsidies for emission cutting investments such as efficient household appliances, public transportation passes, solar panels, and alternative transportation methods such as electric vehicles or bicycles. Between 2007 and 2013 Swiss Re provided more than 9,000 employees significant subsidies towards investments in low carbon technology that enable them to reduce their carbon footprint outside the office.
- The Greenhouse Neutral Programme has already achieved a 49.3% carbon emission reduction per employee. Swiss Re offset the remaining emissions (525,000 tons CO2), making it carbon neutral between 2003-2013.
- By the end of 2013, Swiss Re achieved a gain in energy efficiency of 46.5% per employee (since 2003).
- Currently, around 80% of energy consumption is from renewable sources.
- Reducing CO2 emissions and climate impact through corporate commitments and insurance solutions for clients.
- Through its commitment to tackling climate change and investing in renewable energy, Swiss Re aims to drive availability and demand for renewable energy across various markets
SEE ALL COMPANY ACTION STORIES