The Co-operators meets three-year target of reducing carbon footprint by 10%

The Co-operators met its three-year target of reducing its carbon footprint by 10% through measures such as office energy retrofits, switching to more fuel efficient vehicles for its corporate fleet and reducing paper usage.In its seventh annual sustainability report, entitled Measuring Our Impact, the company outlined its 2011-14 sustainability strategy.The strategy includes:• reducing the company’s carbon footprint by 50% by end of 2014 (for example, by promoting energy efficiency in corporate offices and business travel); and• continuing to embed a sustainable purchasing program throughout the organization; andreducing paper consumption by 25% by end of 2014.”Longer-term, we are striving to reduce our emissions to zero by 2020,” the report says.The report notes CGIC Consolidated and CUMIS General major storm-related losses in 2010 amounted to $102.9 million. This was a 47% increase over the amount The Co-Operators paid for storm losses in 2009 and 62% over the $63.7 million the company paid for storm losses in 2008.”Climate related losses continue to hammer the insurance industry and claims costs are accelerating at a shocking rate,” the report reads.