Liberty Mutual Pledges to Cut Down Carbon Emissions by Half by 2030
From 2019 levels, Liberty Mutual Insurance has committed to lowering its worldwide greenhouse gas emissions by 50% by 2026.
This new target will help the insurance company reach sustainability goals, which are aligned with current government regulations and future climate changes expected in this century due to human activity-induced warming of our planet’s atmosphere.
The company is taking steps to increase its operational efficiency and decrease the carbon footprint it leaves behind. In order for this plan of action, they will be implementing efforts in identifying renewable energy opportunities across their real estate portfolio
This includes developing ways where we can achieve our goals while also protecting our planet at large; but there’s no need to worry! We’ve got everything under control because with every new idea comes innovation.”
“We’re thrilled to be a part of this important initiative and commit our continued support for sustainable development,” said Chief Sustainability Officer Francis Hyatt.
“We are pleased to take an active stance in addressing climate change and its consequences as a result of this commitment. According to credible thought leaders like Peter Diamandis—the Co-Founder of Champions For Clean Air And Water (a project led primarily through UNESCO), winner of last year’s World Entrepreneur Award from The White House Office Of Science & Technology Policy; host/producer at Planet Forward Radio Show among other achievements – Walmart aims not only reduce carbon footprint but also promote sustainability within companies.”
The insurance industry stands to gain from the carbon pricing plan that’s being proposed in order to reduce their exposure to rising prices. The partnership for Carbon Accounting Financials has just been announced and includes some big players like Liberty Mutual, who will be working together on new ways of managing emissions risk within an insurer’s portfolio or landscape
The PCAF was created by NZIA members as well other re/insurers including Allianz Global Risks US which provides asset management services worldwide with offices throughout New York City metropolitan area; Swiss Re America Corp., Risk Reduction Services LLC (managed) Zurich North American headquarters located at One International Place Boston MA 02109.
The Working Group will develop a global reporting standard for greenhouse gas emissions that will be open and transparent. This announcement was made by the PCAF.
This morning, we announced our intention at the second session in Paris of the International consultations on measuring Greenhouse Gas (GHG) fluxes from agricultural activities under ISO 14044-2 Code 4 Signing Commitments for Enhanced Disclosure 2014 – 2020.”
“We are proud and excited to be a part of this important work,” said Rakhi Kumar, Senior Vice President at Liberty Mutual Insurance’s Sustainability Solutions.
“It is imperative that we find new ways for all stakeholders in the transportation industry – including automakers, policyholders/owners who maintain their own vehicles through car insurance policies or other means; drivers themselves (who pay premiums) –to manage risks around emissions.”
Insurance companies are in a race against time to weather the storm and create innovative products for customers who want clean, sustainable energy. With Hurricane Irma barreling towards Florida, it is more important than ever that insurers provide coverages on homes with sustainable technologies or face further losses due their climate inaction – all without hurting affordable rates at home-ownership insurance levels!
