Naturesave was created to be a catalyst for a more sustainable insurance industry
Naturesave promotes sustainable development within the business community and aims to create greater awareness within the insurance industry about the long term problems that the industry faces in ignoring the threat of climate change, pollution and environmental damage. As a result, our primary business objectives are centred around achieving these aims.
These objectives are achieved as follows.
Through our day to day operations;
- Sustainable business travel policy – The majority of Naturesave’s business travel is conducted by train (we annually visit customers in the eco-village Findhorn which requires a 12 hour train journey). Whilst travel by car is occasionally unavoidable, for business travel we never consider the option of flying. We also operate a Cycle to Work scheme, however, this has yet to be taken up an employee.
- No-fly staff holiday policy – Naturesave is the pioneer of the no-fly incentive scheme, to encourage our staff to avoid holiday air travel. Launched in 2009, the policy is designed to give staff the opportunity to cut down on flights abroad by awarding extra holiday time to cover the inevitable additional journey time. All our full time and part time staff are offered up to four days paid annual leave (or ‘no-fly days’) when they opt to travel overland instead of flying. This policy was commended in 2011 when Naturesave won a Queens Award for Sustainable Development. As a business, we recommend other employers take up this policy and are now founder members in the Climate Perks campaign to promote this innovative idea to the business community.
- Well chosen suppliers – Naturesave have a consistent focus on environmental and ethical suppliers for all our services (telephone, banking, electricity) and office supplies where possible, which included retrofitting our office with LED lighting. Our website is hosted by GreenNet who has a strong ethical and environmental credentials and use servers powered by renewables.
- Carbon neutral operation – the remaining carbon produced by our activities is offset through Climate Care, using a mixed portfolio that focuses on clean cooking, safe water and wind power, in locations such as Kenya, Ghana and India
Through our business activities;
- 10% paid annually into The Naturesave Trust – 10% of our annual home insurance and travel premium income is donated into our charity, The Naturesave Trust, which to date has awarded over three quarters of a million pounds to environmental and conservation projects across the UK. Learn more about the work of the Trust.
- Planting a tree for every insurance policy we issue – In November 2018, the Committee on Climate Change announced that tree planting needed to double by 2020, as part of radical changes to land use within the UK, that is necessary to avert a climate breakdown. New forests are now seen as playing a vital role in locking up carbon. Planting trees also bring further benefits such as improving wildlife biodiversity and limiting the increase in flood risks expected with global warming. In response, in April 2019 Naturesave have committed to planting a tree for include all new insurance policies issued. The trees are planted as part of a reforestation programme coordinated by the charity, Trees For Life. Read more about our Buy One Get One Tree policy.
- Environmental advice program for SME’s – Naturesave commercial customers are offered a free Environmental Performance Review aimed at reducing the environmental impact of business operations. Funded by the Naturesave Trust each review covers energy efficiency, sourcing environmental suppliers and waste minimisation, together with information about the latest environmental legislation. Delivered by a chartered environmental surveyor the reviews are conducted in accordance with BioRegional’s 10 One Planet Living principals have been successfully delivered to small and medium-sized businesses since 2011. Check out how we can help your business.
- Rewarding customers for sustainable living – Eco discounts are available for our Home insurance customers for energy efficient practices within the home, such as cavity wall & loft insulation, double glazing, energy efficient appliances, water butts and for domestic renewable energy systems. Learn more about our ethical home insurance.
- Working with Charities – Naturesave support charities, not-for-profit organisations, community groups and start-ups through the provision of pro bono insurance and business advice. We also financially support these where possible through the provision of grants and share purchases.
Through our underwriting partners;
Naturesave believe that the insurance industry, through its underwriting and investments, is uniquely placed change the world for the better by divesting from fossil fuels and embracing the environmental impact of risks within to its core underwriting philosophies. Positive change is certainly underway however more urgent action is needed if global emissions are to brought into line with the Paris Agreement. Reaching Net Zero by 2050 requires emissions to be more than halved by 2030 (from 2010 levels).
We continue to lobby our underwriters to;
- Align their businesses with the Paris Agreement and a 1.5 degree increase in global temperatures
- Not invest in or provide underwriting services for, any company that has not produced plans to wind down fossil fuel operations in accordance with the above
- Cease investments in, and underwriting of, any new fossil fuel extraction (including exploration and associated infrastructure)
- Measure and publish all direct and indirect emissions relating to investment and underwriting activity
- Develop detailed plans to achieve net zero by 2050 (including halving emissions by 2030)
Naturesave’s ultimate aim is to offer underwriting partners that are 100% fossil fuel free (i.e. do not insure or invest in fossil fuel assets) and instead invest their premium income both ethically and sustainably.
You can read more about our efforts in our report The Insurance Industry’s Climate Change Challenge.