Hagerty (NYSE: HGTY), an automotive lifestyle brand and a leading specialty insurance provider, officially launched ECO, a voluntary Enthusiast Carbon Offset program to help motorists reduce the carbon footprint of their collectible cars, trucks and motorcycles in an easy, convenient and transparent way.
ECO is the first step in a holistic Hagerty Impact strategy that will educate and empower enthusiasts to drive positive change across a range of social and environmental activities. Hagerty will lead the way, offsetting all emissions from its classic fleet and driving events. For 2022, this included the California Mille and Greenwich Concours Driving Tour.
“We believe the love of driving and the love of our planet can and must co-exist,” said Hagerty CEO McKeel Hagerty. “As part of our long-term environmental strategy, we are committed to helping automotive enthusiasts responsibly make a difference with simple and affordable steps such as this program.”
Worldwide, approximately 72 percent of people believe that protecting and restoring natural habitats would be a helpful solution in addressing climate change, according to an Edelman Trust Barometer 2022 special report on climate change.¹
“We have made a commitment to educate ourselves and our members on the best ways to improve their vehicles and driving habits to lessen the overall impact on the environment,” said Kory Felker, Vice President of Brand Strategy at Hagerty. “At the same time, we will respect any of our members who are not ready to engage in these efforts.”
ECO will allow collectible vehicle owners to monitor their CO2 emissions by entering their vehicle’s type and the mileage they want to offset into a web-based emissions calculator powered by Chrome Carbon, a reforestation program and an industry leading carbon reduction initiative for automotive enthusiasts.
The calculator helps owners recognize their vehicle’s impact and allows them to offset multiple times its CO2 emissions by planting trees locally in the U.S, Canada or the U.K., Chrome Carbon partners with certified climate bodies and organizations to fund highly ranked reforestation and carbon reduction projects with real and measurable gains.
Planting trees is one of the most impactful and affordable ways of taking CO2 out of the atmosphere and restoring natural habitat, according to scientists. Chrome Carbon partners with organizations working closely with national forest agencies, local forest experts and farmers, making sure that the right trees are planted and looked after in the most relevant locations.
Hagerty’s ECO program is available now to all collectible vehicle owners interested in offsetting the carbon emissions associated with driving their vehicle.
Participation in Hagerty ECO is not linked to the purchase of a Hagerty insurance product or event ticket and can be purchased independently by any collectible vehicle owner.
So they don’t show how they reach any of their calculations, then the company they use to donate through takes 20-30% of your money for passing it on to the tree planting charities. I smell a rat.