Corporate Knights, an organization and magazine publisher that focuses on socially and environmentally responsible business, has ranked The Co-operators as the most sustainable insurance co-operative in the world. The ranking was announced at the most recent International Summit of Cooperatives, which took place in Montreal earlier this month.
The Co-operators has committed to aligning its business practices with the following four principles, and publishes an annual report detailing how well it met these obligations:
- In a sustainable society, nature is not subject to systematically increasing concentrations of substances produced by society.
- In a sustainable society, nature is not subject to systematically increasing concentrations of substances extracted from the earth’s crust.
- In a sustainable society, nature is not subject to systematically increasing degradation by physical means.
- People are not subject to conditions that systematically undermine their capacity to meet their needs. ol>
"Sustainability principles align naturally with co-operative values, which emphasize concern for community and long-term value creation over short-term profit maximization," comments The Cooperators’ president and CEO Kathy Bardswick. "It is a great honour to be ranked highly on this list, knowing there are so many co-ops around the world doing a remarkable job of balancing economic, social and environmental priorities. The progress we've made as an organization is due to the commitment of our staff and advisors, who have integrated our co-operative identity and commitment to sustainability into their daily activities."