You are here: Home - Insurance - News -

Co-op urges motor industry to go green

0
Written by:
22/07/2008

The Co-operative Insurance is urging the motor insurance industry to do its bit to reduce CO2 emissions by stopping the practice of replacing plastic components with new parts.

By repairing damaged car parts rather than replacing them, The Co-op claims that more than 200,000 plastic bumpers could be prevented from being sent to landfills sites each year. This is equivalent to five football pitches being filled at one metre deep. It also means that fewer car parts are produced in factories across the world and transported to the UK.

To illustrate its commitment to combating climate change, The Co-op is putting its money where its mouth is and has created a scheme that encourages garages to repair damaged parts rather than replace them. Those that take part in the scheme will receive 50% of the cost of the replacement part as an incentive.

David Neave, director of general insurance at The Co-operative Insurance, said: “This is a groundbreaking scheme, which we believe the insurance industry should adopt if they are to reduce their impact on the environment.

“It’s easier to fit a new part and throw away the old one, rather than considering if the old part can be repaired. But it’s not sustainable, so to encourage repairers to think twice, we’ve decided to offer them a major incentive.

“We have demonstrated our commitment to combating climate change through all areas of our business. And we think that it is time that other insurance companies follow our lead. We want to encourage their network of repairers to repair damaged parts instead of stripping them down and sending them to landfill.”

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Pension planners urged to look beyond property

A third of consumers are planning to depend on property for their retirement, despite the current state of the housing...

Close