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24.11.2017 General News

Co-Op Insurance Partner With Climate Care On Carbon Offsetting Programme

By Alexandra Ashton
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  • Co-Op Insurance are the 1st major UK insurer leading the way with a new carbon offset programme
  • Helping to fund the provision of Gyapa stoves for 140,000 people in Ghana
  • Gyapa stoves are 60% more efficient than traditional metal stoves resulting in less carbon emissions

Co-op Insurance is the first major insurance company to offset a proportion of customers’ carbon emissions, as standard.

The project, which has been accredited as Gold Standard, is equipping people in Ghana with the skills and knowledge necessary to manufacture, market and sell Gyapa stoves (meaning ‘good fire’), helping to fund the provision of cleaner cookstoves for 140,000 people in Ghana.

In addition to reducing carbon emissions, the Gyapa stoves replace less efficient cooking methods such as open-burning of wood and coal, helping to improve air pollution and in turn help reduce an estimated 4 million premature deaths per year caused by unclean air.

The project is also helping to build sustainable long-term income for locals with 350 skilled manufacturers producing and selling 12,000 stoves each month, benefiting over 500 local retailers.

By offsetting a proportion of its customers' carbon emissions as standard, via its direct motor and home policies, Co-op Insurance has saved more than 2 million tonnes of carbon emissions to date, with 4 people helped by each tonne of carbon offset. Furthermore, 797 miles are offset for every motor policy purchased.

Mark Summerfield, CEO of Co-op Insurance commented: "We offer new customers carbon offset as standard on all home and motor policies, at no extra cost.

We have chosen this project specifically as in addition to its environmental impact, it offers excellent long-term social benefits such as job creation, and is helping to facilitate a better quality of life for thousands in the developing world.

"This exciting project is one of the many ways we're committed to doing business ethically; we already source 99% of our electricity from renewable sources (including our own wind farms), and have reduced our direct carbon footprint by 46% since 2006.

"We all have a part to play in addressing the pressing issue of climate change, and through this offer we're making it easier than ever for Co-op customers to make that choice."

Co-op's partnership with ClimateCare, offsets 10% of both motor and home customers average annual carbon footprint in the first year.

Edward Hanrahan, CEO, ClimateCare commented: "We're very proud to be partnered with Co-op Insurance, which continues to demonstrate its long standing commitment to mitigating climate change and improving lives. By tying climate action into its products as standard, Co-Op Insurance is showing real ambition on climate change, and driving carbon emissions reductions at scale.

Through projects such as Gyapa stoves, Co-op and ClimateCare are working together to enable scalable, locally appropriate solutions to climate change which create opportunities and develop skills in some of the world's underserved communities."

For more information on how Co-op Insurance is helping to offset carbon emissions please visit https://www.co-opinsurance.co.uk/supporting-communities/carbon-offset

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