NRMA Insurance launches Carbon Offset Program
NRMA Insurance today launched its Carbon Offset Program which allows motor customers to offset the carbon emissions produced by their car each year.
The industry-first program works by customers entering their car make, model, and how far they drive each year, into the NRMA Insurance Carbon Offset Program website to receive an estimate on the amount of carbon produced by their car and the cost to offset it each year.
Customers can then choose to pay the carbon offset cost as a one-off payment, with the full amount going to carbon offset projects. The funds collected will go specifically to projects that involve bush regeneration in Australia, investing in renewable energy and rainforest protection.
The Program is supported by Tasman Environmental Markets, which will distribute the collected funds to the carbon offset projects.
NRMA Insurance Group Executive Julie Batch said: "As an insurer we see the impacts of climate change playing out through more frequent and severe weather events that have a devastating impact on our customers and the community.
"We see these impacts firsthand when we are on the ground helping our customers recover and rebuild after these events. That's why NRMA Insurance is focused on helping to reduce the impacts of climate change and severe weather on our customers.
We are proud to launch this program to help our customers reduce their own carbon footprint - with all funds going to important projects that will help to capture carbon in the atmosphere.Julie Batch
NRMA Insurance Group Executive
"We are proud to launch this program to help our customers reduce their own carbon footprint - with all funds going to important projects that will help to capture carbon in the atmosphere. It forms part of our commitment as a business to work towards net zero emissions by 2050," she said.
The program is currently available to passenger vehicle customers only, with a view to extend it to other vehicles in the future.
Carbon offsetting involves projects that help to draw carbon or greenhouse gas emissions from the atmosphere, such as through land restoration or planting trees.
As an example, a medium sized car that's driven approximately 10,000kms each year, would produce approximately 1.87 tonnes of carbon over that time, which is equivalent to the amount of carbon that is absorbed by 84 trees in a year. The cost for a customer to offset this would be $41.05 each year.
NRMA Insurance, through its parent company IAG, is already taking steps as a business to reduce its own carbon emissions including purchasing carbon offsets and has been a carbon neutral business since 2012. These commitments are outlined in IAG's Climate and Disaster Resilience Action Plan.
