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Swiss Re Increases Internal Carbon Levy (Int'l. Report)
Swiss Re
Date: 2020-09-16
As part of its efforts to transition to net-zero emissions in operations by 2030, Zurich-headquartered insurance and reinsurance firm Swiss Re reports it will increase its internal carbon levy to $100 per tonne as of 2021.

The new levy, which is higher than the current levy of $8 per tonne CO2 set to gradually increase to $200 per tonne by 2030, will fund a compensation of residual operational emissions through carbon removal projects. The reinsurer will also further curb its flight emissions with a CO2 reduction target of 30 pct in 2021, relative to the 2018 benchmark.

As previously reported, Swiss Re, a signatory of the Paris Pledge for Action and UN-convened Net-Zero Asset Owner Alliance founding member, plans to gradually cut underwriting to the most carbon-intensive oil and gas industries by 2023. (Source: Swiss Re, Reinsurance News, 15 Sept., 2020) Contact: Swiss Re, Christian Mumenthaler, CEO, www.swissre.com

More Low-Carbon Energy News Internal Carbon Levy,  Carbon Tax,  


VW Plans Internal Carbon Levy, Carbon-Neutral Production (Int'l)
Volkswagen
Date: 2019-02-18
German auto juggernaut Volkswagen reports it plans to introduce an emplyee incentives plan and an internal CO2 levy as part of its effort to reduce the company's carbon footprint and carbon emissions. The internal levy would be set on the use of electricity, heat and fuel, and the carbon pollution from flights will have to be compensated.

The company also notes that its first electric car, the ID, will be "CO2 neutral throughout the entire life cycle," including all manufacturing. The electric car is expected to go into production at the end of this year. At the end of last year, Volkswagen announced that it will convert several production sites into pure e-car factories and will invest over €40 billion in future technologies in the next years.

"The Volkswagen Group will be a climate-neutral company by 2050 at the latest," according to Volkswagen CEO Herbert Diess. (Source: VW, Der Spiegel, Electrek, Bloomberg, Feb., 2019)

More Low-Carbon Energy News Volkswagen ,  Carbon Emissions,  

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