Glacier Group Press Release
PRESS RELEASE
2009-03-02
Glacier Group
Glacier Group
- Glacier Group renews carbon neutral commitment -
Glacier Group ("Glacier"), the Switzerland-based European reinsurer and insurer,
is pleased to announce the successful completion of its 2008 carbon neutral programme
and the renewal of its commitment to sustaining the environment in 2009. Glacier
has been certified as carbon neutral since 2007 and was one of the first companies
in the industry to achieve this status.
Glacier partners with First Climate, a specialist carbon asset management company,
to offset unavoidable carbon dioxide emissions from its five offices worldwide and
compensate for the emissions that result from travelling. The key component of the
ongoing programme is the purchase, holding and retirement of high quality emission
reduction credits, managed through First Climate. Strict independent audits ensure
compliance with rigid performance standards along the lines of the United Nations
Framework Convention on Climate Change (UNFCCC).
The credits are sourced from two renewable energy projects in China and Brazil:
- Wind Power Project - Qingdao. A wind turbine generator project which provides clean,
renewable regional electricity supplies, reducing the demand for energy from coal-fired
power plants and therefore reducing sulphur and carbon dioxide emissions.
- Biomass Power Generation – Brazil. A fuel-switch project which reduces greenhouse
gases through substituting the cutting of native hardwood forests for rice husk
in thermal energy generation.
Robbie Klaus, Chief Executive Officer of the Glacier Group, commented:
"Ensuring that our operations are carbon neutral is now an essential part of our
business from an environmental, social and risk management perspective. Our 2008
programme received great recognition and support from our colleagues and customers
and we are pleased to be renewing our commitment to emission-free business activities."
Dr. Jochen Gassner, Director at First Climate, commented:
"First Climate is pleased to be working with Glacier Group again in addressing the
problem of climate change. Our rigorous quality assurance process guarantees the
integrity of Glacier’s offsetting projects. This will ensure that Glacier’s commitment
to tackling climate change makes a real and tangible difference to the communities
in China and Brazil they are supporting."
Further information
Media
Haggie Financial
David Haggie / Juliet Tilley
Tel: +44 20 7417 8989
Notes to Editors:
About the Glacier Group
Glacier is an international insurance and reinsurance group, founded in December
2004 and headquartered in Pfäffikon, Canton Schwyz, Switzerland. The Glacier Group
had underwriting capital of USD 599 million as of 30 June 2008 and is rated A- (Excellent)
by A.M. Best.
Glacier Insurance
Glacier Insurance was incorporated in Liechtenstein in November 2006 and is licenced
by the Financial Market Authority in Liechtenstein. It operates from Liechtenstein,
Germany and the UK. It is a wholly-owned subsidiary of Glacier Reinsurance AG.
Glacier Reinsurance AG (Glacier Re)
Glacier Re was established in December 2004 and is regulated by the Federal Office
of Private Insurance in Switzerland. It operates from Switzerland.
www.glaciergroup.com