At Hiscox we aim to build a strong, sustainable business. A key part of that now is to ensure our impact on the environment is as small as possible. The Group environmental policy governs the way we manage resources at our premises, such as recycling and reusing consumables where possible, and reducing the amount of raw materials used in business processes.
In 2010 Hiscox UK developed a specific commitment to measure its carbon footprint and take steps to reduce that as far as it can. The policy makes the business operate more sustainably by measuring its use of water, energy and other products to reduce their consumption over time; buying sustainably-sourced goods or energy-efficient products where it can; and by minimising waste by recycling and reusing products as much as is feasible. Our intention is to extend this policy across the Group, to drive examples of environmental best practice among our operating units.
Hiscox UK becomes carbon neutral
2010 saw the Hiscox UK business become carbon neutral. After an environmental audit and calculation of its carbon footprint, with the help of independent consultants Corporate Citizenship, employees were encouraged to help the business reduce its impact on the environment. Thanks to their efforts we generated significant cost savings through increased recycling and more careful use of electricity, water and gas.
The business achieved a:
- 13% decrease in overall waste sent to landfill
- 15% decrease in overall building energy use
- 12% reduction in water use.
As a result, Hiscox UK’s overall carbon footprint fell by 6%, with the balance of its (largely unavoidable) carbon emissions offset through an investment in an African Energy Efficient Stove Project.
Our sustainability efforts have also been recognised by the City of London Corporation, which gave Hiscox’s London office a Clean City Scheme gold award in 2010.
ClimateWise
Hiscox is a founding member of ClimateWise, an insurance industry initiative that aims to reduce the long-term risk on the global economy and society from climate change. Hiscox supports the principles of ClimateWise and is encouraged by the actions taken by Lloyd’s to assist the market to meet the majority of ClimateWise’s principles.