Introducing Carbon IQ™ by Assurant®: First Solution to Quantify CO2 Footprint of Individual Devices Throughout Lifecycle

Rhea-AI Summary

Assurant introduces Carbon IQ, providing detailed measurement and insights on the carbon impact of individual connected devices. New smartphones have an estimated carbon footprint ranging from 36 kg to 96 kg of CO2, while refurbished devices have up to 90% fewer emissions. E-waste is a growing problem, but the demand for refurbished devices is increasing. Assurant repurposed and extended the useful life of over 22 million devices in 2022, diverting 4,000 metric tons of e-waste and avoiding 1.2 million tons of CO2 emissions. Carbon IQ enables tracking of trade-in campaigns and links Marketing, Sales, and Sustainability.

Positive

• Refurbished devices have up to 90% fewer emissions
• Assurant repurposed over 22 million devices in 2022, avoiding 1.2 million tons of CO2 emissions

Negative

• None.

Provides end-to-end CO₂ impact assessment to help companies define and refine their circularity strategy for the mobile device ecosystem

ATLANTA--(BUSINESS WIRE)-- Assurant, Inc. (NYSE: AIZ), a leading global business services company that supports, protects, and connects major consumer purchases, today introduced Carbon IQ™, the first solution that provides detailed measurement and insights on the carbon impact of individual connected devices, including refurbished devices, throughout the device lifecycle. Based on Carbon IQ insights, a new smartphone has an estimated carbon footprint that ranges from 36 kg to 96 kg of CO₂ while a refurbished device has up to 90 percent fewer emissions.

(Photo: Business Wire)

The end-to-end insights and circularity planning support Assurant can deliver through patent-pending Carbon IQ includes:

• Device lifecycle CO₂ footprint: Enables clients to see the carbon impact of each device, including new and refurbished devices
• CO₂ avoidance and optimization scenario analysis: Provides clients with CO₂ emissions throughout the supply chain and lifecycle to identify opportunities for reduction or avoidance
• Forecasting, tracking, and modeling: Allows clients to see how the carbon footprint of mobile device programs can and is changing based on the mix of new and refurbished devices that are sold

“As our clients move toward their emission reduction goals, they’re looking for more precise data to help define and refine their circularity strategy for mobile devices in their ecosystem,” said Biju Nair, EVP and president, Global Connected Living and International, Assurant. "Carbon IQ is the first solution that aggregates the global carbon footprint of an individual device throughout its entire device lifecycle – from new to re-processing and reused. Our dashboards enable companies to quickly and easily see insights and impacts based on device CO₂ emissions, which can guide decision-making.”

E-waste is the fastest growing waste problem in the world, generating about 50 million tons of waste each year according to Statista. At the same time, the global cost of living crisis combined with a greater desire to live more sustainably is driving demand for refurbished devices. According to Counterpoint Research’s Global Refurb Smartphone Tracker, the global secondary smartphone market grew five percent year-over-year in 2022, highlighting growing consumer demand for high-quality certified pre-owned refurbished devices.

To meet rising demand, the complete mobile ecosystem must influence consumer behavior to trade in their old devices when they are ready to upgrade and consider certified pre-owned devices as replacements. Refurbished devices also serve a critical need in bridging the digital divide by making high-quality, up-to-date smartphones more accessible. In 2022, Assurant, in partnership with its clients, repurposed and extended the useful life of more than 22 million devices. This equates to diverting more than 4,000 metric tons of e-waste from landfill and avoiding approximately 1.2 million tons of CO₂ emissions.

Carbon IQ also enables operators, manufacturers and retailers to track marketing initiatives for trade-in campaigns back to reused phone sales to create a link between Marketing, Sales, and Sustainability. The more devices sourced from trade-in programs, the better the carbon footprint will be for refurbished/used devices.

Carbon IQ is informed by a methodology that was reviewed and developed with the Carbon Trust.

About Assurant

Assurant, Inc. (NYSE: AIZ) is a leading global business services company that supports, protects and connects major consumer purchases. A Fortune 500 company with a presence in 21 countries, Assurant supports the advancement of the connected world by partnering with the world’s leading brands to develop innovative solutions and to deliver an enhanced customer experience through mobile device solutions, extended service contracts, vehicle protection services, renters insurance, lender-placed insurance products and other products.

Learn more at assurant.com or on X (formerly Twitter) @Assurant.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230920116962/en/

Assurant Media Contacts:



Stacie Sherer

Vice President, Corporate Communications

Stacie.Sherer@assurant.com



Lorraine Doherty

Director, International Communications

Lorraine.Doherty@assurant.com

Source: Assurant, Inc.