The Co-Operative Group

The Man Group International Climate Change Award for companies in any country taking a strategic, comprehensive and innovative approach to tackling climate change.

Award Winners: The Co-Operative Group

 

The Co-operative Group has shown great courage and conviction in its approach to tackling climate change. Whether it’s linking management bonuses to carbon targets, educating its customers or campaigning for climate action in wider society, Co-op has brought a holistic approach and pioneering spirit to this issue that we hope other companies will emulate."

The Co-Operative Group has made climate change a top priorty from how it operates to the products and services offered to its customers.

Since 1998, 98% of its electricity supply has come from renewable sources. In 2006 it opened a 16 megawatt wind farm with ScottishPower, and the UK’s largest solar-power installation transforming the 35 storey Co-operative Insurance Tower with 7,000 photovoltaic panels.

Offsetting is now a standard feature of all Co-operative Bank’s mortgages; Co-operative Insurance launched its first motor insurance policy to include offsetting as standard; and Co-operative Travel sells offsets at all branches. In 2007, the Co-operative Financial Services announced the intention to go beyond carbon neutral by offsetting all unavoidable operational and business travel emissions.

Impact:-

• Pre-tax profits have increased by 120% since 2004, with greenhouse gas emissions have decreased by 30%
• Over 300,000 tonnes of CO2 have been offset since 2000 through renewable energy eco-efficiency and reforestation projects
• Positive media coverage for the company’s environmental initiatives in 2006 was calculated to be worth £3million.