What’s New: In Brief (January 21, 2008)

Swiss Re’s voluntary initiative to become greenhouse neutral, “COyou2 reduce and gain,” completed its first year and more than 400 staff members around the world participated.The program offers Swiss Re staff financial incentives to reduce greenhouse gas emissions. The subsidized investments vary between regions, but 130 staff 116 of them in the United States received support to purchase a hybrid car. In Switzerland, 170 employees received contributions towards public transport passes. A further 80 staff around the world were granted subsidies with energy- and electricity-related investments, including the installation of solar panels and heat pumps, a Swiss Re release says.By 2011, the goal is to motivate 10% of Swiss Re staff to participate its first year garnered the participation of 5%, the release adds.

Zurich Financial Services Group has launched a new climate office. The mandate of the office is to help the company determine climate-related risks across its businesses.Reporting directly to Zurich’s global chief underwriting officer, the climate office will be fully embedded in Zurich’s underwriting infrastructure. It will focus on the development of products and services addressing the evolving risks associated with climate change, as well as the establishment of a long-range carbon management strategy, a Zurich release says.The company also established a climate change advisory council, consisting of internal functional leaders and external advisors reporting to Zurich’s group management on strategic and operational issues associated with climate change, the release adds.