Global climate change
The Co-operative Insurance is a shareholder in ExxonMobil, one of the largest companies in the world. In May 2005, we opposed the re-election of Exxon's Chief Executive on the basis of the company's failure to adequately address its contribution to global climate change. The company downplays the links between man-made carbon dioxide emissions and climate change, and has lobbied the US Government to oppose proposed responsible legislation regarding the issue. We view this as an unacceptable position for an energy company, and one that could harm long-term shareholder value.
Do we practice what we preach? Why not find out. Environmental sustainability is a big part of running a good business
We believe that the long-term stability of our economy depends on an appropriate response to climate change, and it is to the benefit of all that insurance companies incorporate the risks from climate change and the need for migration into our business strategies.
As a result The Co-operative Insurance has joined together with the Association of British Insurers (ABI) and other businesses from the insurance sector to become signatories to a set of six principles called ClimateWise:
- Lead in risk analysis
- Inform public policy making
- Support climate awareness amongst our customers
- Incorporate climate change into our investment strategies
- Reduce the environmental impact of our business
- Report and be accountable
To see how The Co-operative Insurance has progressed against these principles to date, download the document below:
