Climate protection at Munich Re

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Corporate Responsibility News

12 June 2015

Climate protection at Munich Re

As an insurer of risks that result amongst others from climate change, we also seek as part of our business activities to contribute to climate protection. In order to offset the CO2 emissions which arise from our business operations, the Munich Re Group made a decision in 2011 to combine all its efforts in a unified approach and to achieve climate neutrality across the entire Group by the end of the financial year 2015. Reinsurance, Munich Health and ERGO Germany already reached this goal in the 2012 financial year and were joined by some of the ERGO International sites in 2014.

Our climate protection strategy:
Achieving CO2 neutrality by reducing, substituting or compensating for our emissions

Between 2009 and 2015, the Group's CO2 emissions will be reduced by at least 10% for each employee as a result of action taken to reduce energy, paper and water consumption, and avoiding business travel and waste. Fossil energy sources are being replaced by renewable energies wherever possible, and the remaining CO2 emissions offset by the purchase of emission credits. The proportion of green energy already exceeded 65% in 2014.

The remaining annual CO2 emissions of the financial year 2014 of 116,000 tons across the Group are neutralised by purchase of carbon credits. When selecting projects as potential sources of these credits, we place particular emphasis on the use of technologies which reduce CO2 emissions as well as on social aspects, such as job creation, improvement of health and education, and development of local infrastructure. With a view to meeting these criteria, credits were purchased from the following five projects: solar cooker, wind power and photovoltaic energy generation in China,  hydro power plants in Madagascar and energy-efficient cooking stoves in Uganda. Detailed descriptions of the projects are available as PDF for download.

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