The Co-operators becomes first insurance company to join Ceres coalition
Sep 1, 2009
GUELPH, ON and BOSTON, MA, Sept. 1 /CNW/ - Citing the company's five-year track record on sustainability reporting and commitments to addressing climate change, the Ceres Board of Directors today announced it has approved The Co-operators as the newest member of Ceres' corporate network. The Co-operators is the first insurance company among more than 80 member companies that comprise the Ceres network. A leading coalition of investors, environmental groups and public interest organizations, Ceres works with companies to address a variety of sustainability challenges, including global climate change. "The insurance sector, the largest industry in the world, has been hit hard by climate change impacts, and is a critical part of the climate change solution," said Ceres president Mindy Lubber. "We look forward to working closely with The Co-operators as the organization continues to develop new solutions that will help mitigate the harmful effects of climate change." The Co-operators has demonstrated clear leadership on sustainability. In addition to releasing annual sustainability reports and adopting the Global Reporting Initiative's (GRI) guidelines, The Co-operators has developed a sustainability policy that will allow it to build on its financial strength while minimizing the negative effects its activities may have on the environment and society at large. The company has also integrated sustainability into its overall governance structure, including creating a Sustainability Committee of the Board of Directors and a Sustainability Steering Committee, which includes senior leaders from the group of companies' subsidiaries across the country As part of its efforts, the co-operatively-owned group of companies has developed a formal climate change strategy that includes measures to reduce its carbon footprint, manage climate risks, pursue climate change business opportunities, and influence stakeholders to reduce their own emissions. "We're working to integrate sustainability into every aspect of our operations, and climate change is a big part of that," said Kathy Bardswick, President and CEO of The Co-operators. "We have set greenhouse gas reduction targets that we're working toward through measures such as making our buildings more energy efficient and changing over our entire fleet of vehicles to more fuel-efficient models." Companies that join Ceres must make continual strides in improving their sustainability performance and reporting practices by engaging with investors, environmental groups, and other stakeholders. About Ceres: Founded in 1989, Ceres is a leading network of investors, environmental groups and other public interest organizations working with companies to address sustainability challenges. Ceres also directs the Investor Network on Climate Risk (www.incr.com), comprised of more than 80 institutional investors who collectively manage more than $7 trillion in assets. For more information, visit www.ceres.org. About The Co-operators: Based in Guelph, Ontario, The Co-operators is a group of Canadian companies offering home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators Group Limited is a 100 per cent Canadian-owned co-operative with assets of more than $7 billion. It is owned by a group of Canadian co-operatives, credit union centrals and like-minded organizations. The Co-operators is well known for its community involvement, and is listed among the 50 Best Employers in Canada.
For further information: Leonard Sharman, The Co-operators, (519) 824-4400 ext. 2707; Peyton Fleming, Ceres, (617) 247-0700 ext. 120