Glacierre Press Release
PRESS RELEASE
2007-09-11
Glacier Reinsurance AG
Glacier Re becomes carbon neutral
Glacier Re joins industry leaders in emission-free business activities
Glacier Reinsurance AG (“Glacier Re”), the European reinsurance company, today announces
the completion of its programme to become a carbon neutral business.
Glacier Re’s carbon neutral status has been achieved through a number of initiatives,
including offsetting all energy consumption at the company’s headquarters in Pfäffikon,
Switzerland, and neutralising business travel activities.
The key component of the programme is the purchase, holding and retirement of high
quality emission reduction credits, managed through a specialist carbon asset broker.
Strict independent audits ensure compliance with quality criteria laid out in the
United Nations Framework Convention on Climate Change (UNFCCC). The credits are
sourced from two renewable energy projects in India:
1. Wind Power Project - Gujarat. A long-term initiative to reduce greenhouse gases
by replacing fossil fuel based electricity generation through the installation of
wind power turbines.
2.Biomass Power Generation – India. This project involves using methane generated
as a waste product of sugar production and turning it into power. This has the double
benefit of removing this potent greenhouse gas from the atmosphere and reducing
usage of polluting fossil fuels.
Robbie Klaus, Chief Executive Officer and Chief Underwriting Officer of Glacier
Re said:
“Climate change not only poses a major risk to the environment and human health,
but also to the future of the insurance and reinsurance markets. As well as the
obvious environmental benefits of achieving carbon neutral status, the move is further
evidence of our commitment to risk management in all areas of our business operations.
The entire industry is increasingly aware of the threat of climate change, and we
are pleased to be amongst the first to deliver on our pledges and achieve official
carbon neutral status.
“We are also delighted to be supporting projects that not only offset our emissions,
but also bring a real socio-economic benefit to local communities, creating direct
and indirect employment, and encouraging clean technologies.”
Glacier Re has been advised by 3C Consulting GmbH, a leading carbon asset management
business. 3C undertook detailed emissions calculations on Glacier Re’s entire business
activities – from energy and paper consumption at its Pfäffikon headquarters through
to corporate travel. 3C also manages Glacier Re’s emission reduction credits.
Further information
Media
Haggie Financial
David Haggie / Juliet Tilley
Tel: +44 20 7417 8989