What is carbon offsetting?
You've probably already heard that carbon emissions cause climate change.
Carbon offsetting is simple in practice. When you buy a home or car insurance policy from us, we fund a project that reduces carbon emissions. That's it!
While carbon offsetting isn't the solution to climate change on its own, it's an important and immediate way to address some of our unavoidable carbon emissions.
There are lots of ways to reduce carbon, but we choose projects that have added social and environmental benefits, such as offering cleaner, more efficient cookstoves in Ghana.
All the projects we fund are independently audited to internationally agreed standards, to prove they save the carbon they say they do.
What Co-op does
Co-op Insurance champions a better way of doing business, and reducing carbon is just one part of our ethical approach.
So, if you buy your car or home insurance policy from us, we'll offset 10% of your car or home's energy CO2 emissions* for the first year of your policy as standard. We'll choose a great carbon offset project that's proven to work and does some additional good in the world, like Gyapa Stoves in Ghana.
As well as that, we'll only invest your premiums ethically, in line with the policy developed with our customers. That means, for example, that we won't finance businesses involved in animal testing of cosmetics and household products, the unsustainable harvest of timber, or extracting fossil fuels from the ground.
And finally, we'll do what we can to reduce the impact of our own business on the environment. Since 2006 we've reduced our own direct carbon footprint by 54%, and we source 100% of our electricity from renewable sources (including our own windfarms).
More about Gyapa Stoves
When you buy your car or home insurance policy from us, you're supporting a carbon reduction project called 'Gyapa Stoves'. This project is all about supporting cleaner, more efficient cookstoves in Ghana. It helps create jobs, save families money on fuel and protects the environment at the same time. It's a win-win.
It's immediately obvious how it works when you look at the stoves, they have a thick ceramic liner which means compared to traditional metal stoves they're lots more efficient. They use 50-60% less charcoal. That means less fuel being burnt, less pressure on forests, and less carbon emissions.
What's more, they're not just given away for free; the project is all about building a sustainable long-term income for people. They're manufactured locally (including by a small worker's Co-op in Accra), made mostly from recycled material, and sold by hundreds of small retailers, creating jobs and improving lives.
What you can do
Offsetting carbon emissions won't halt climate change on its own, it's just one part of the response. Things we all do every single day all add up to have a surprisingly big impact on the environment, whether it's heating and lighting our homes, the stuff we buy, or travelling to work.
If you're interested in finding out more, there are some great resources online to work out how you could reduce your impact on the environment in just a few minutes, and you might even be able to save yourself some money!
WWF Footprint Calculator: http://footprint.wwf.org.uk
Energy Saving Trust: http://www.energysavingtrust.org.uk
Supporting carbon reduction projects
What is a Gyapa cookstove?
*Home policy offset calculated from the average UK home emitting 3.9 tonnes of CO2-equivalent greenhouse gases from energy use, based on 2017 typical household energy consumption from Ofgem and 2018 government-published figures from DfBEIS.