Swiss Re Employees Could Get Over $4000 Each for Less CO2

January 4, 2007

Swiss Re announced that it’s offering a rebate of up to CHF 5000 ($4058) to each of its employees who commit to reducing “her or his personal carbon footprint.”

Swiss Re said: “The ‘COyou2 reduce and gain’ programmed supports employees’ investments in measures that contribute to reducing greenhouse gas emissions, particularly in relation to mobility, heating and electrical energy. Such measures, which vary according to regional circumstances and preferences, include low-emission hybrid cars, use of public transport, and the installation of solar panels or heat pumps.

“From now until the end of 2011, Swiss Re will rebate each employee one half of the amount invested in these measures, up to a maximum per employee of CHF 5 000 or the equivalent in local currency.”

The world’s largest reinsurer, along with many others in the insurance industry, has been increasingly committing its prestige, expertise and financial resources to promote further research and understanding of climate change and global warming and their potentially catastrophic effects. It has set up its own initiatives to reduce CO2 emissions.

“In 2003, Swiss Re declared that it would make its own operations carbon neutral by 2013,” said the announcement. “Now, as part of the Clinton Global Initiative, Swiss Re has decided to support measures taken by its employees that contribute to the reduction of CO2 emissions.”

According to Ivo Menzinger, Head of Sustainability & Emerging Risk Management, who is in charge of the “COyou2 reduce and gain” program, “Swiss Re is actively engaged in mitigating climate change and its consequences. This programmed is an investment that will encourage our employees to make a personal contribution and further raises awareness of the issue.”

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