Citing the company’s five-year track record on sustainability reporting and commitments to addressing climate change, the Ceres board of directors Tuesday announced it has approved The Co-operators as the newest member of Ceres’ corporate network.

A coalition of investors, environmental groups and public interest organizations, Ceres works with companies to address a variety of sustainability challenges, including global climate change.

The Co-operators, based in Guelph, Ont., is the first insurance company among more than 80 member companies that comprise the Ceres network.

“The insurance sector, the largest industry in the world, has been hit hard by climate change impacts, and is a critical part of the climate change solution,” says Ceres president Mindy Lubber. “We look forward to working closely with The Co-operators as the organization continues to develop new solutions that will help mitigate the harmful effects of climate change.”

The Co-operators has demonstrated clear leadership on sustainability, Ceres says. In addition to releasing annual sustainability reports and adopting the Global Reporting Initiative’s (GRI) guidelines, The Co-operators has developed a sustainability policy that will allow it to build on its financial strength while minimizing the negative effects its activities may have on the environment and society at large.

“We’re working to integrate sustainability into every aspect of our operations, and climate change is a big part of that,” says Kathy Bardswick, President and CEO of The Co-operators. “We have set greenhouse gas reduction targets that we’re working toward through measures such as making our buildings more energy efficient and changing over our entire fleet of vehicles to more fuel-efficient models.”

Companies that join Ceres must make continual strides in improving their sustainability performance and reporting practices by engaging with investors, environmental groups, and other stakeholders.

Ceres also directs the Investor Network on Climate Risk comprised of more than 80 institutional investors who collectively manage more than $7 trillion in assets.

IE