ibuyeco is a car and home insurance product that aims to offset the carbon emissions generated by the policyholders’ homes and cars.
The product, which is already popular in the United Kingdom and Australia, allows green-conscious South Africans to tackle climate change — 2% of an ibuyeco’s policyholders’ monthly insurance premium will be paid into a Green Trust held by ibuyeco. The funds from this trust will be donated to various eco-charities and organisations.
In this way, the policyholder can be an activist consumer, according to spokesperson Bradley du Chenne. The global demand for environmentally friendly products has grown and the local insurance industry has, in this way, declared its intentions to participate in this space.
“We have a special interest in going green as our industry will be hit hard by climate change if sea levels rise and unpredictable weather conditions get worse,” said Du Chenne. “Climate change is our concern and more should and must be done to safeguard the sustainability of our planet for our children.”
ibuyeco is underwritten by Dial Direct Insurance.
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