Travelers states that it “believes that commercial property owners who embrace ‘green’ technologies are likely to be more risk management minded…” Noting this, and recognizing the growth of the green building sector and the increasing number of state and federal regulations mandating improved environmental practices, the company has launched several new programs and products aimed at supporting the development of green building, renewable energy, and the use of hybrid vehicles. To minimize the company’s risk associated with its insurance offerings, Travelers has established the Emerging Issues Committee and a Committee on Climate, Energy and the Environment. These committees work with Travelers’ business units and corporate groups to identify and assess climate change related liability issues. Travelers also considers the impact that climate change may have on its investment portfolios, including municipal bonds as well as asset- and mortgage-backed securities. To date, Travelers has not published a sustainability report. Portfolio 21 has requested that the company adopt an environmental accounting and reporting framework and quantify the revenues generated from its environmentally preferable product offerings.
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 8/31/14 and may not reflect current opinions or subsequent events.