Swiss Re encourages employees to reduce their personal CO2 footprint
15 January 2014, Zurich
Swiss Re extends its proprietary "COyou2 programme" for a period of seven years, providing financial support to employees around the world when they make private investments to reduce their own CO2 footprint. The programme will now end in 2020, in line with the company's current climate strategy.
The "COyou2 programme" raises awareness among Swiss Re employees about the impact their everyday lives have on the environment. It supports employees with a subsidy when, for example, switching to use a bike instead of using a car, or installing energy-efficient home appliances (e.g. washing machine/ refrigerators) and home infrastructure such as insulation or heat pumps.
"More than 7 500 subsidies have been paid out to Swiss Re employees globally since it was first launched in 2007, making the COyou2 programme a success," says Thomas Wellauer, Group Chief Operating Officer and Member of Swiss Re's Group Executive Committee. "This has prompted us to renew it for another seven years. We encourage our employees to take part so they can contribute individually to lower greenhouse gas emissions."
Over the last few years, the "COyou2 programme" has gained broad recognition beyond Swiss Re as an innovative way of linking corporate strategy and responsibility on climate change with emission-cutting actions taken privately by Swiss Re's employees. The investment options which are subsidised take into account regional differences and needs. Swiss Re contributes up to 50% of the eligible amount and the investment per employee is capped at a locally predefined total expense.
Swiss Re has been active in the climate change debate for over 20 years and has a comprehensive climate strategy in place. In 2003, it was the first major financial services company to launch a voluntary initiative to become fully carbon neutral and to substantially reduce carbon emissions within ten years. Since 2003, Swiss Re has been carbon neutral and decreased its emissions per employee by 56%.
Notes to Editors
The Swiss Re Group is a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer. Dealing direct and working through brokers, its global client base consists of insurance companies, mid-to-large-sized corporations and public sector clients. From standard products to tailor-made coverage across all lines of business, Swiss Re deploys its capital strength, expertise and innovation power to enable the risk-taking upon which enterprise and progress in society depend. Founded in Zurich, Switzerland, in 1863, Swiss Re serves clients through a network of over 60 offices globally and is rated "AA-" by Standard & Poor's, "Aa3" by Moody's and "A+" by A.M. Best. Registered shares in the Swiss Re Group holding company, Swiss Re Ltd, are listed on the SIX Swiss Exchange and trade under the symbol SREN.
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