Our environmental footprint
We take care to minimise the environmental impact of our operations. Through innovative initiatives we have achieved a substantial reduction of our CO2 emissions and encourage our employees to reduce...
As a founding partner of RE100, Swiss Re is committed to becoming 100% powered by renewable electricity by 2020 - a lot of it coming from the company’s own energy production. Already today over 84% of the power Swiss Re consumes comes from renewable sources.
In our view, carbon emissions should be avoided directly at the source whenever possible. We prefer the physical consumption of renewable electricity or long term contracts with reliable energy producers over certificates bought retrospectively.
We also strive for a direct impact of our power purchasing on the development of new renewable power production capacities.
Investing in photovoltaic power makes environmental and economic sense
Photovoltaic installations are not only environmentally friendly, they are also becoming economically viable. We started installing solar energy facilities (50-100kW) at the rooftops at Swiss Re offices in Switzerland, Italy and the UK.
In 2017 we invested approx. US$7 million into our largest solar project so far - a 2MW solar power plant is in operation at Swiss Re Americas' headquarters in Armonk, NY. Ten acres of panels, ground-mounted on our property, generate more than 60% of the campus' power requirements. The Armonk solar project has an attractive payback of less than seven years.
Swiss Re will continue building solar power plants in other locations across Asia.
Increasing resilience of energy infrastructure
Although off-grid solutions with battery storage are not yet fully economically feasible today, they will most likely be in a few years. It will be a simple task to retrofit the Armonk solar plant with such a system. The resilience of the electricity grid is increased through active demand management. Our own resilience is improved by providing the Armonk campus with additional power in the event of an outage and by making us less dependent on fluctuating power prices.
Commitment to sustainability
Swiss Re aims to lead by example and wants to contribute to a greater societal impact in addressing the issue of climate change. It encourages other corporations across the globe to minimise their environmental footprint. The company is a founding member of the RE100 initiative, which now unites the world’s largest companies in a shared commitment to use 100% renewable power.
Our own solar power projects are an important example of our commitment. They help us to illustrate our concrete efforts for our customers, society and our employees.
Program for employees encourages solar installations at home
Our group-wide "COyou2 reduce and gain" program makes solar energy attractive for employees to use at their homes. It encourages our colleagues to install their own solar panels on the rooftops of their homes. The program subsidizes residential photovoltaic installations and other low carbon investments made by employees with up to US$4,000 or the equivalent in a local currency.
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