QBE North America purchases renewable electricity in Marblehead to reduce carbon footprint

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Jul 21, 2023, 11:00 ET

In partnership with the Marblehead Municipal Light Department to
achieve a lower carbon portfolio

MARBLEHEAD, Mass., July 21, 2023 /PRNewswire/ -- In support of our commitment to achieve net zero by 2030 for our operations¹, QBE North America has taken a crucial step toward reducing its carbon footprint at its Marblehead office by purchasing certified renewable energy through the Marblehead Municipal Light Department's (MMLD) "Go Green Now!" program. The Go Green Now! program, originally geared towards residential customers, was created to shift Marblehead's power portfolio to renewable energy sources. QBE North America is MMLD's first commercial customer to participate in the program.

"We started this program when a growing number of Massachusetts residents expressed interest in being a part of the climate crisis solution," said Joseph Kowalik, general manager, MMLD. "So, we were pleasantly surprised when we got the call from QBE North America with their interest to participate for commercial use. As the first local business to participate in the program, QBE North America is setting an example for others to follow while helping to create a more sustainable future."

Renewable energy certificates are evidence that energy has been generated from renewable energy sources, such as a wind or solar farm. By purchasing these certificates, companies can reduce their emissions and support projects that bring more renewable energy into the grid.

Purchasing certified renewable energy in Marblehead is just one of many steps QBE North America has taken towards sustainability. The company has also purchased certified renewable energy in Wisconsin, Minnesota and North Carolina.

"We are dedicated to operating our business with sustainability principles in mind, and proactively reaching out to Marblehead Municipal Light to purchase certified renewable energy demonstrates that commitment," said Chris Gates, assistant vice president of business operations, QBE North America. "As a company, we are using 100% renewable electricity² and are constantly looking for new ways to reduce our carbon footprint even further."

As an international insurer and reinsurer, QBE integrates sustainability into its business to deliver on its purpose of enabling a more resilient future. By purchasing certified renewable energy, QBE North America is reducing its carbon footprint and supporting projects that support energy security and the transition to a net-zero economy. The company remains committed to sustainability and will continue to take actions that benefit the planet and its stakeholders.

About QBE North America
QBE North America is a global insurance leader helping customers solve unique risks, so they can stay focused on their future. Part of QBE Insurance Group Limited, QBE North America reported Gross Written Premiums in 2022 of $7.27 billion. QBE Insurance Group's results can be found at qbe.com. Headquartered in Sydney, Australia, QBE operates out of 27 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business primarily through its insurance company subsidiaries. The actual terms and conditions of any insurance coverage are subject to the language of the policies as issued. QBE insurance companies are rated "A" (Excellent) by A.M. Best and "A+" by Standard & Poor's. Additional information can be found at qbe.com/us or follow QBE North America on LinkedIn and Facebook.

About the Marblehead Municipal Light Dept. (MMLD)
MMLD has been providing electric power to Marblehead, Massachusetts residential and commercial customers since 1894. Today MMLD provides 100,000 Megawatt-hours of electricity annually to 10,300 customers. Carbon-free electric power for MMLD customers is generated at plants located in four New England states: Massachusetts, Connecticut, New Hampshire, and Maine, plus New York, and Quebec, Canada. Our ongoing mission is to deliver safe and reliable electric power to customers at competitive prices, generated at environmentally responsible power plants we purchase power from or own. For more information visit our website at marbleheadelectric.com.

¹ On defined emissions inventory related to our operations, see our Data Book.
² 2022 full year performance. Based on RE100 Materiality Threshold guidance which excludes countries with small electricity loads (<100MWh/year and up to a total of 500MWh/year) and where it is not feasible to source renewable electricity.

SOURCE QBE North America