Swiss Re decided to donate the first return from its activities in developing a viable carbon market to off-set the emissions generated by the CGI 2006 annual meeting (and beyond). In return for Swiss Re's support for the 'IdleAire' project (emissions reduction project in the transportation sector) to monetize their carbon emissions reductions, Swiss Re received 17'000 metric tons of carbon credits. These credits were registered at the Chicago Climate Exchange and subsequently retired.
The IdleAire project provides carbon dioxide emissions reductions by enabling long-haul diesel trucks in the US to be turned off and connected to the power grid while drivers are resting or sleeping; every hour a truck is plugged into the IdleAire system saves a gallon of diesel fuel and prevents the emission of 10 397 grams of carbon dioxide. The IdleAire network and billing system maintains highly detailed records of system use and provides a record of mobile emission reductions that is unique in the industry. Emission reductions were verified and subsequently listed on the Chicago Climate Exchange (CCX). The emissions were retired by the CCX for CGI's off-setting purposes.
- Carbon credits were prospectively retired in June 2006.
- Commitment successfully completed.