LONDON, December 18 /PRNewswire/ — UK targets for CO2 reduction, set for 2008 by the EU in 1998 will not be met. Ibuyeco car insurance, one of the first schemes of its kind in this country means consumers no longer need rely on the car industry to tackle the issue by allowing drivers to use their own initiative and make a practical contribution to help tackle global climate change through carbon offsetting.
Privately, manufacturers have admitted that they have no hope of meeting the target to produce vehicles that emit no more than 140g of CO2 per kilometre within the set time-scale(i). Since its launch in June of this year, ibuyeco has offset more than 35,000 tons of carbon, enough to power the town of Swanscombe & Greenhithe (Kent) for an entire year(ii)! Ibuyeco offers customers the ability to do something about climate change themselves, rather than relying on industry bodies to do it for them.
The online car insurance company, ibuyeco offers competitively priced packages which offset 100% of a vehicle’s carbon emissions(iii) for the life of their policies. A small additional amount is added to customers’ insurance costs to counter the damage done by driving their vehicle – this is calculated based on the make and model they drive and the estimated mileage details provided by customers. This additional amount is then invested in projects which counter the damage caused by driving the vehicle by The Carbon Neutral Company.
Lucy Bailey, Marketing Manager, ibuyeco commented “With targets not being met by the car manufacturing industry to reduce carbon emissions, there was a huge demand for an insurance product that enabled the public to counteract the damaging effect of everyday use of cars. ibuyeco is a practical step for people to make whilst also giving them a competitive insurance quote.”
(i)The Times 20 October 2007 ‘Carbon health warnings for all new cars’ Ben Webster.
(ii)The 35,000 tonnes that have been offset are the equivalent to the annual CO2 emissions of 6,250 UK households (based on 5.6 tonnes of CO2 per home). That is roughly the equivalent to the population of Swanscombe & Greenhithe, Devon, according to the National census 2001.
(iii) 100% carbon neutral car insurance – based on the information customers have provided
Notes to editors:
– You could save up to GBP157 with ibuyeco motor insurance – based on independent online research by Consumer intelligence during 01 September 2007 to 30 September 2007. 10% of consumers achieve this saving with ibuyeco motor insurance.
– The CarbonNeutral Company is the world’s leading full service carbon management business, enabling businesses and individuals to tackle their climate change impacts in a way which delivers value – commercial, environmental, personal. Clients include: Silverjet, Avis Europe, Honda, Berkeley Homes, Barclays Bank, BSkyB, Crystal Holidays, Royal & Sun Alliance, Volvo, Lex, Radio Taxis Group, Euro RSCG, Ricoh, and Bovis Lend Lease.
– In London alone, 2.3 million tonnes of CO2 are produced each year from London road traffic, equivalent to a jumbo jet flying to the moon and back 71 times.
– Ibuyeco was launched by the BGL Group Ltd on World Environment Day 2007.
– The BGL Group was founded in 1992 and has grown to become one of the UK’s largest personal lines insurance intermediaries, through a combination of organic growth and a series of major strategic acquisitions (the last major acquisition was five years ago).
The Group now arranges and administers insurance for over 2.0 million customers, has contact centre operations (Fusion) in Peterborough, Coventry, Sunderland, Peterlee in the UK, and Cape Town, South Africa, and a number of websites, including – http://www.ibuyeco.co.uk/ and http://www.comparethemarket.com/. The Group currently employs over 2000 people with its head office in Peterborough.
As an intermediary, the Group is able to access a wide range of underwriters, making it highly competitive in the marketplace offering core products such as motor, home, commercial vehicle and motorcycle insurance. The Group also offers a wide range of supplementary products, which include breakdown cover, legal protection and travel insurance.
Ibuyeco is a trading name of BISL Ltd, part of the BGL Group Ltd is authorised and regulated by the Financial Services Authority.
Registered Address: Pegasus House, Bakewell Road, Orton Southgate, PE2 6YS.