Ibuyeco Green Car Insurance Reaches 18,000 Tonnes of CO2 Offsets Since June Launch

LONDON, September 13 --

- 100% Offsetting Plus Competitive Pricing a Hit With Consumers

Since its launch on World Environment Day in June, ibuyeco customers have now offset over 18,000 tonnes of CO2 as part of their car insurance policies. ibuyeco combines a competitive insurance quote and 100% offsetting of a car's CO2 emissions compared to other 'green' insurance schemes which merely offer to offset 20%(i).

The 18,000 tonnes that have been offset are the equivalent to the annual CO2 emissions of 3,214 UK households (based on 5.6 tonnes of CO2 per home)(ii). That is roughly the equivalent to the population of Totnes, Devon(iii)

A small additional offset fee is added to the car insurance quote to compensate for the annual CO2 emissions of the car. 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 of the vehicle.

The 18,000 tonnes of CO2 that have been offset in the last three months 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."

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

(ii) Data supplied by the Edinburgh Centre for Carbon Management working with The Carbon Neutral Company.

(iii) National census 2001

Notes to Editors:

- 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 Budget Group of Companies (the 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 1.7 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.

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. Registered in England no 3231094

    
    Contact Details: 

    Main: 
    Threepipe Communications
    Georgina Coates
    +44-(0)207-470-4805
    georgina.coates@threepipe.co.uk

    Secondary: 
    Threepipe Communications
    Peter McAllister
    +44-(0)207-470-4811
    peter.mcallister@threepipe.co.uk

Contact Details: Main: Threepipe Communications, Georgina Coates, +44-(0)207-470-4805, georgina.coates@threepipe.co.uk; Secondary: Threepipe Communications, Peter McAllister, +44-(0)207-470-4811, peter.mcallister@threepipe.co.uk