'COyou2 - Reduce and Gain' Program

Commitment to Action

'COyou2 - Reduce and Gain' Program

Commitment by

Swiss Reinsurance Company

In 2006, Swiss Re committed to financially support investments in specific personal CO2 reduction measures. The support will amount to a total of $5,300 per employee per period of five years, with Swiss Re contributing a maximum of 50 percent to any individual investment. Eligible projects include, the purchase of a hybrid car, the acquisition and installation of solar panels or heat pumps, or paid days off for participating in climate-related volunteering activities. The benefit is available to all employees globally who are permanently employed and who have been with the company for more than one year. Its value will be adjusted according to the FTE status per employee.

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Tabs

Overview

Summary

Commitment

'COyou2 - Reduce and Gain' Program

Launched

2006

Est. Duration

5 years

Estimated Total Value

Region

Africa, Latin America & Caribbean, Asia, Northern America, Europe, Oceania, Middle East

Countries

Australia, Brazil, Canada, China, Colombia, Denmark, France, Germany, Hong Kong, India, Ireland, Israel, Italy, Japan, Korea, Malaysia, Mexico, The Netherlands, New Zealand, Singapore, South Africa, Spain, Switzerland, Taiwan, United Kingdom

Commitment by

Swiss Reinsurance Company

Details

A unique feature of this benefit, is that the eligible investments will vary from country to country. Thus, the subsidy is applied to those CO2 reduction measures that are most suitable in each respective location. Instead of offering a globally uniform benefit, Swiss Re aims to provide a maximum level of utility, given varying circumstances and preferences around the globe.

The project will run from January 2007 to December 2011 and will be extended should it be successful.

Background

Swiss Re was one of the first financial service providers to recognize the challenges posed by climate change. Since the early 1990s, the Group has been engaged in climate-related activities involving a variety of stakeholders. To bring one of its most important stakeholder groups, its employees, on board, CEO Jacques Aigrain spearheaded the creation of the 'COyou2 -Reduce and Gain Program' program.

The launch of the program in January 2007 will be accompanied by awareness-raising activities around climate change and its relevance to Swiss Re.

Progress Reports

March 2013

The COYou2 project was fully implemented in 2007. From inception, over 5,700 employees have participated in the program, with participation increasing through 2012.