Nov. 1, 2007 The Travelers Companies, one of the largest property casualty insurance companies in the world, has joined the Pew Center's Business Environmental Leadership Council (BELC) in an effort to address global climate change.

With the announcement, Travelers joins the ranks of major insurers looking for proactive climate strategies that will increase their resilience to weather-related natural disasters. With one-third of all claims due to weather, the global insurance industry has pledged to be at the forefront of climate change research.

Perhaps no other industry is more exposed to the financial risks of climate change than the insurance industry,ƒ†â€™ƒÂ¢¢â€šÂ¬…¡ƒ¢â‚¬Å¡ƒâ€š‚ says Eileen Claussen, president of the Pew Center on Global Climate Change. But the unique risks faced by the industry also present it with an opportunity to take a leadership role in responding to the climate challenge.ƒ†â€™ƒÂ¢¢â€šÂ¬…¡ƒ¢â‚¬Å¡ƒâ€š‚

Travelers says it has formed a multi-disciplinary team to investigate ways to integrate its core business strategies with initiatives to address the impacts of climate change, including strategies that respond to customer needs arising from the effects of climate change. The company is also in the process of calculating its own carbon footprint and has taken several steps to reduce greenhouse gas emissions, including reducing energy consumption through workplace design and operation, as well as utilizing more energy efficient heating and cooling methods.

Travelers is committed to supporting initiatives and actions for our company and customers that mitigate the negative impacts of climate change and encourage environmentally responsible behavior,ƒ†â€™ƒÂ¢¢â€šÂ¬…¡ƒ¢â‚¬Å¡ƒâ€š‚ says Jay Fishman, chairman and chief executive officer of Travelers.

Travelers has yet to announce specific greenhouse gas reduction targets, but a list of targets from other BELC companies is available online.

BELC is the largest U.S.-based association of corporations focused on addressing the challenges of climate change, with 44 members representing $2.8 trillion in market capitalization and over 3.8 million employees.