Tuesday, September 20, 2016

Reinsurer Swiss Re plans 2MW solar plant for US headquarters

Zurich-based reinsurance giant unveils plans for major new solar plant to generate clean electricity for US operations

Swiss Re, one of the world's largest reinsurers, has announced plans to build a 2MW solar farm at its North American headquarters in Armonk, New York, in the latest green business news to emerge from Climate Week in New York.

Construction on the plant will begin next month, and once completed the 10-acre array is expected to generate enough clean electricity to power 60 per cent of Swiss Re's North American headquarters, the company said in a statement.

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"We're delighted to be taking this crucial step to make our operations in North America carbon-neutral in a way that also improves our bottom line," Swiss Re Americas chief executive Eric Smith said in a statement. "In the context of Swiss Re's extensive engagement in mitigating climate change, this is just another example of how we keep our commitments."

The move will help take Swiss Re one step closer to its goal of sourcing 100 per cent clean electricity by 2020.

The firm is a founding member of the RE100 campaign and already sources 85 per cent of its electricity from renewables, with solar arrays installed at its offices in Switzerland, Italy and the UK.

The RE100 campaign, which encourages businesses to source 100 per cent renewable power, has welcomed a flurry of new members this week, including Apple, Hewlett Packard, Bank of America, Diageo and VF Corp. In total, 81 companies are now signed up to the initiative.

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