One of many green insurance programs, ibuyeco has been offsetting drivers' CO2 emissions since opening shop in June. The company just sent out an announcement that the results so far include the offsetting of 25,000 tons of carbon dioxide with the help of the CarbonNeutral Company. While this sounds like a lot, it's actually kind of a drop, really. After its first three months of operation, ibuyeco claimed they had offset 18,000 tons. Do the math, that's 18,000 tons in the first three months and then 7,000 in the following two.

Maybe this is why, instead of focusing only on the 25,000 tons number, ibuyeco's press release (after the jump) frames the amount as "the annual CO2 emissions of an entire town." ibuyeco says 25,000 tons of CO2 is "the equivalent to the annual CO2 emissions of 4,464 UK households (based on 5.6 tonnes of CO2 per home). That is roughly the equivalent to the population of Ilfracombe, Devon." Well, there ya go.

Related:
[Source: Ibuyeco]
Nov 6, 2007

ibuyeco Green Car Insurance Offsets the Annual CO2 Emissions of an Entire Town

100% Offsetting Plus Competitive Pricing a Hit With Customers

LONDON, November 6/PRNewswire/ -- Since its launch on World Environment Day in June, ibuyeco customers have now offset over 25,000 tonnes of CO2 as part of their car insurance policies. ibuyeco combines a competitive insurance quote and 100% offsetting(1) of a car's CO2 emissions compared to other 'green' insurance schemes which merely offer to offset 20%(2).

The 25,000 tonnes that have been offset are the equivalent to the annual CO2 emissions of 4,464 UK households (based on 5.6 tonnes of CO2 per home). That is roughly the equivalent to the population of Ilfracombe, Devon.

ibuyeco recently announced that for a limited period, there will be a reduction in the additional offset fee which is added to the car insurance quote to compensate for the annual CO2 emissions of the vehicle. These emissions are calculated according to DEFRA (Department for Environment, Food and Rural Affairs) guidelines and are based on the car's engine size, fuel type and annual mileage. The average additional offset fee now stands at a mere GBP2, making it even easier for customers to help save the planet.

The 25,000 tonnes of CO2 that have been offset since launch have been done so in conjunction with the leading CO2 offsetting company, The CarbonNeutral Company (TCNC). TCNC funds energy efficiency and renewable energy projects at home and abroad. All TCNC projects are independently audited by KPMG for consumer's peace of mind.

Lucy Bailey, Marketing Manager, ibuyeco commented: "We are delighted with the response so far and ibuyeco seems to resonate strongly with consumers. With UK road traffic accounting for twenty five per cent of all CO2 emissions there was huge demand for an insurance product that helped counteract the damaging effect our every day use of the car was making. ibuyeco is a practical step for people to make whilst also giving them a competitive insurance quote."

(1)100% carbon neutral based on information provided during the quote

(2)ecoinsurance from CIS Cooperative Insurance offsets 20% of the car's emissions.

- Data supplied by the Edinburgh Centre for Carbon Management working with The Carbon Neutral Company.

- National census 2001


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