Swiss Re Signs on to G-8 Climate Change Recommendations

June 23, 2008

Swiss Re’s CEO Jacques Aigrain has signed the climate change recommendations of the Group of Eight (G8) leaders. “The document outlines a new, more environmentally effective and economically efficient long-term climate policy framework to succeed the Kyoto Accord, calling for halving worldwide greenhouse gas emissions by 2050,” said the announcement.

The signing took place on Friday, June 20 “on behalf of the group of 91 chairmen and CEOs by World Economic Forum Executive Chairman and Founder Klaus Schwab to Prime Minister Fukuda of Japan, who will host the G8’s annual summit next month in Hokkaido, Japan,” the bulletin continued.

The recommendations “urge governments to adopt a rapid and fundamental strategy to bring about a low-carbon world economy and at least halve global greenhouse gas emissions by 2050,” Swiss Re explained. “The signatory companies also promise to stand ready to work with governments and the UNFCCC to explore and refine the ideas set out in this document and to help build consensus for a fair and effective post-2012 framework.”

Ivo Menzinger, Head of Sustainability and Emerging Risk Management, who’s also responsible for climate change activities at Swiss Re, commented: “The endorsement of these recommendations to G8 leaders reinforces Swiss Re’s strong commitment to contribute to finding solutions to the climate change challenge. The proposed measures are fully in line with Swiss Re’s own position in this field.”

Swiss Re said its actions “are based on the premise that it is in the interest of shareholders, clients and employees, the wider stakeholder community and society in general to tackle the issue of climate change. The company is committed to leveraging its capabilities in designing financial solutions that help reduce emissions and adapt to the inevitable consequences of climate change.”

Source: Swiss Re:

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