Prudential Life Insurance Ghana has taken a significant step towards reducing its carbon footprint with the launch of its “E-V Transition Program”.
This initiative is part of the company’s broader commitment to sustainability and its goal of achieving operational carbon neutrality by the next decade.
The project was launched this year as part of activities commemorating the company’s 10th anniversary in Ghana.
The programme involves transitioning the company’s fleet from internal combustion engine vehicles to electric vehicles (EVs). This move is expected to significantly reduce the company’s carbon emissions, contributing to a better future for all.
During the launch, Madam Efua Preba Arkaah-Greenstreet, a board member of Prudential Life Insurance Ghana said that the impact of climate change is staggering and requires urgent action from everyone. UNICEF reported in 2021 that air pollution from fossil fuels is responsible for an estimated 8.1 million premature deaths globally.
She therefore commended Prudential Life Ghana for taking such a bold step to protect the environment.
Transition from internal combustion engine vehicle to Electric Vehicle is equivalent to 100% carbon reductions/savings in comparison to fossil fuels excluding emissions from power station.
Additionally, just one electric vehicle can save up to 1.5 million grams of CO2 emissions per year, equivalent to planting over 30 trees or reducing energy consumption by 1,300 kilowatt-hours.
This investment is also projected to cut cost for Prudential Life Insurance over time, while contributing to our long-term sustainability strategy. The cost of powering an Electric Vehicle is much lower than fueling a gasoline vehicle. An Electric Vehicle typically costs about GHS2 per 8km to operate, compared to GHS14 per 8km for a gasoline vehicle.
This results in substantial fuel savings, particularly for high-mileage users. Regarding maintenance, Electric Vehicles cost about US$0.03 per mile in maintenance expenses, compared to US$0.08 per mile for gasoline vehicles.
Over five years, these savings can amount to thousands of dollars, providing a substantial amount of savings for Prudential Life Insurance in total ownership costs in the long run.
Mrs. Jane Dornukuor Mingle, the CEO of Prudential Life Insurance Ghana explained “that the EV transition program aligns with our mission to be the most trusted partner and protector for this generation and generations to come, by embedding sustainability into our investments and operations.”
It is also an affirmation of our sustainability pillar of building resilient communities by responding to pertinent issues and our commitment to a fair transition to a low-carbon economy.
“The launch of the “EV Transition Program” underscores Prudential Life Insurance Ghana’s commitment to environmental responsibility and sustainability, as a leading insurance provider in Ghana, we are dedicated to making a positive impact on the environment and setting a benchmark for sustainability,” she assured.
This is demonstrated in other projects like the mangrove restoration in Ada Foh, financial literacy programs, recycling of waste to produce desks for school children, energy saving programs, financial inclusion and health and fitness promotion through PruRide and PruWalk.
By initiating its new EV fleet, the company reaffirms its commitment to driving change, one electric vehicle at a time. By virtue of this conscious choice about its operations, Prudential Life Insurance Ghana is playing a significant role in mitigating the effects of climate change. The company invites others to join them on their journey towards a more sustainable future.
