Ecological sustainability
Climate change has been a real wake up call for many businesses.
For us, however, the alarm bells were sounding years ago (we first introduced a policy on climate change in 1998).
It’s an urgent reminder that there are physical limits to the earth’s resources (both in terms of generating materials and absorbing wastes).
Any business activity that exceeds these limits is, by definition, unsustainable in the long-term, and where this is the case we will make changes to find a more sustainable alternative.
Our thinking is influenced heavily by an approach called The Natural Step which sets out a sustainable framework for businesses.
How do we apply this in practice?
Here are some of the main ways in which we’ve made our business more ecologically sustainable:
Our ethical policies: the investment decisions of both the bank and our insurance business are guided by our statements on ecological impact, environmental sustainability and genetic modification. Considering that The Co-operative Insurance alone manages a portfolio worth over £2 billion, we’re able to play an important role in protecting the environment.
Our carbon footprint: we were the first major UK business to become carbon positive and we now offset 110% of our CO2 emissions.
The Co-operative Solar Tower: is the UK’s biggest solar project and will generate enough electricity every year to make 9 million cups of tea.
Recycling and renewable energy: we recycle over eight times as much as the average office and 96% of the electricity used by us comes from renewable, green sources.
Our products: we have a range of environmentally friendly products such as ecoinsurance green mortgages and The Sustainable Leaders Trust
Our campaigns: our annual Customers Who Care campaigns have highlighted a number of ecological issues including biodiversity, dangerous chemicals and recycling. More recently we supported Friends of the Earth’s Big Ask campaign to combat climate change.
We review our approach to ecological sustainability regularly so if you’ve got an opinion or would like to get involved, why not have your say?
