Travelers Makes Earth Day Pledge to Become Carbon Neutral by 2030
April 22 2021 - 9:30AM
Business Wire
Commitment builds on Travelers’ longstanding
efforts to reduce its environmental impact
Company also announces it will extend its
partnership with American Forests and plant an additional 1.5
million trees, for a total of 3 million trees since 2019
The Travelers Companies, Inc. (NYSE: TRV) today announced its
commitment to become carbon neutral across its owned operations by
2030. The pledge is a key component of Travelers’ ongoing and
broader sustainability strategy.
“We take a thoughtful and comprehensive approach to
sustainability,” said Alan Schnitzer, Chairman and Chief Executive
Officer of Travelers. “Through this commitment and other aspects of
our longstanding approach to changing climate conditions, we are
addressing a risk we all face and standing up to the responsibility
we have to leave a better world for our children and future
generations. We are pleased with the progress we have made over the
years to reduce our carbon footprint, and we are proud to take our
efforts to the next level.”
Achieving Carbon Neutrality by 2030
The company has made significant progress in reducing its carbon
footprint, cutting Scope 1 and 2 emissions* by more than 40%
between 2011 and 2020. Over the next decade, Travelers will achieve
carbon neutrality by reducing or offsetting an additional 50,000
metric tons of carbon dioxide – the equivalent of eliminating the
impact of about 125 million vehicle miles. In this way, Travelers
will be doing its part to align with the target set forth in the
Paris Climate Agreement to limit the global temperature increase in
the 21st century to 1.5 degrees Celsius.
This initiative is the latest in a series of enhancements
Travelers has made in recent years to make its operations more
eco-efficient. These include, among others:
- Cutting energy consumption in half at its largest owned campus
(in Hartford, Connecticut).
- Increasingly relying on renewable energy sources to supply
electricity at its owned facilities.
- Ensuring all of its owned campuses are ENERGY STAR®
certified.
In addition to minimizing Travelers’ carbon footprint, the
company’s climate strategy includes providing risk management
products and services to alternative energy businesses through its
Global Renewable Energy Practice, thereby facilitating the
transition to a lower-carbon economy. In 2020, the company grew
this business by approximately 40%.
More information about the company’s eco-efficient operations
and climate strategy is available at
sustainability.travelers.com.
Reforestation Commitment
For years, Travelers has supported American Forests, the
country’s oldest nonprofit conservation group, to protect the
nation’s forests and promote reforestation. In April 2019,
Travelers launched an important and impactful initiative with
American Forests, committing to fund the planting of one tree for
each Personal Insurance billing account converted to paperless
billing. Since then, the company has funded the planting of 1.5
million trees in areas most in need of reforestation while lowering
its paper consumption by tens of millions of pages.
The company announced that it is extending its support of
American Forests and expects to plant an additional 1.5 million
trees by June 2022.
“Ensuring the vitality of our forests is critical to minimizing
the effects of changing climate conditions,” said Michael Klein,
Executive Vice President and President of Personal Insurance at
Travelers. “We are excited and extremely proud to deepen our
relationship with American Forests, and we look forward to making
an important contribution to the reforestation of some of the
country’s most endangered ecosystems.”
“Through our partnership with Travelers, we have made a
substantial impact on some of America’s most essential natural
landscapes – helping to grow forest resilience in the face of a
changing climate and create a better, healthier environment for
everyone,” said Jad Daley, President and Chief Executive Officer of
American Forests. “We are grateful for Travelers’ generous
continued support and look forward to achieving this new goal
together.”
Customers can opt in to paperless billing, manage their accounts
and access online claim resources by visiting MyTravelers.com.
*Scope 1 emissions include those that are directly generated by
the company’s activities, and Scope 2 emissions include those that
are indirectly generated by energy purchased by the company.
About Travelers
The Travelers Companies, Inc. (NYSE: TRV) is a leading provider
of property casualty insurance for auto, home and business. A
component of the Dow Jones Industrial Average, Travelers has
approximately 30,000 employees and generated revenues of
approximately $32 billion in 2020. For more information, visit
Travelers.com.
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