Climate change presents some of the biggest challenges to both short and long-term value creation for our clients, our communities and our organization. To demonstrate our commitment to a low-carbon future, we’ve made significant reductions to our relatively small emissions footprint, with a goal to be carbon neutral equivalent by 2020. At the end of 2019, we achieved a net carbon emission reduction of 80%, relative to our 2010 baseline. Our carbon footprint has been reduced to 13,947 tonnes of CO2 equivalent through internal reductions and changes in the electrical grid, and our net carbon footprint, including renewable energy and carbon offsets, is 4,640 tonnes of CO2 equivalent.
Our efforts to reduce carbon emissions reaffirm our commitment to the low-carbon economy and demonstrate that environmental impacts can be reduced without compromising profitability.
In 2014, The Co-operators became the first Canadian insurer to sign the United Nations–supported Principles for Responsible Investment (UN PRI)’s Montréal Carbon Pledge, a commitment to measure and publicly disclose the carbon footprints of investment portfolios.