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EPA Recognizes Universal Insurance Holdings, Inc. For Leading Green Power Use
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Universal Insurance Holdings (NYSE: UVE) has joined the U.S. Environmental Protection Agency’s Green Power Partnership, committing to use 652,000 kilowatt-hours of green power annually, equating to 25% of its electricity consumption. This initiative aims to advance the green power market while reducing air pollution and greenhouse gas emissions. CEO Stephen Donaghy emphasized the importance of green power as an affordable choice for organizations. The EPA praised UVE's leadership, acknowledging its green power usage reduces emissions equivalent to 1,161,251 vehicle miles or 510,708 pounds of coal burned.
Positive
Joined U.S. EPA's Green Power Partnership.
Using 652,000 kilowatt-hours of green power annually.
Green power accounts for 25% of total electricity use.
Reduces emissions equivalent to 1,161,251 miles driven by an average passenger vehicle.
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None.
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--
Universal Insurance Holdings (NYSE: UVE) (the “Company”) today announced today that they recently joined the U.S. Environmental Protection Agency’s Green Power Partnership. Universal Insurance Holdings, Inc. is using 652,000 kilowatt-hours (kWh) of green power annually, which is enough green power to meet 25 percent of the organization's electricity use. By choosing green power, Universal Insurance Holdings, Inc. is helping advance the voluntary market for green power and development of those sources.
“This is a great honor, and we are proud to be recognized by the U.S. Environmental Protection Agency,” said Stephen Donaghy, Chief Executive Officer. “Using green power helps our organization reduce air pollution and lower our emissions footprint, while also sending a message to others across the country that green power is an affordable, accessible choice.”
By moving the needle in the voluntary green power market, Universal Insurance Holdings, Inc. and other Green Power Partners are helping to reduce the negative health impacts of air emissions including those related to ozone, fine particles, acid rain, and regional haze.
"EPA applauds Universal Insurance Holdings, Inc. for its leadership position in the green power marketplace," said James Critchfield, Program Manager of EPA'sGreen Power Partnership. "Universal Insurance Holdings, Inc. is an excellent example for other organizations in reducing greenhouse gas emissions through green power investment and use."
According to the U.S. EPA, Universal Insurance Holdings, Inc.’s green power use is equivalent to 1,161,251 miles driven by an average passenger vehicle or 510,708 pounds of coal burned.
About Universal Insurance Holdings, Inc.
Universal Insurance Holdings (UVE) is a holding company offering property and casualty insurance and value-added insurance services. We develop, market, and write insurance products for consumers predominantly in the personal residential homeowners lines of business and perform substantially all other insurance-related services for our primary insurance entities, including risk management, claims management and distribution. We sell insurance products through both our appointed independent agents and through our direct online distribution channels in the United States across 19 states (primarily Florida). Learn more at UniversalInsuranceHoldings.com.
About EPA’s Green Power Partnership
The Green Power Partnership is a voluntary program that helps increase green power use among U.S. organizations to advance the American market for green power and development of those sources as a way to reduce air pollution and other environmental impacts associated with electricity use. In 2020, the Partnership had more than 700 Partners voluntarily using nearly 70 billion kilowatt-hours of green power annually. Partners include a wide variety of leading organizations such as Fortune 500® companies; small and medium sized businesses; local, state, and federal governments; and colleges and universities. For additional information, please visit www.epa.gov/greenpower.
Investor Relations Contact:
Rob Luther, 954-892-6487
VP, Corporate Development, Strategy & IR
rluther@universalproperty.com
Media Relations Contact:
Andy Brimmer / Mahmoud Siddig, 212-355-4449
Joele Frank, Wilkinson Brimmer Katcher
Source: Universal Insurance Holdings, Inc.
FAQ
What is Universal Insurance Holdings' commitment to green power?
Universal Insurance Holdings (UVE) will utilize 652,000 kilowatt-hours of green power annually, representing 25% of its electricity needs.
How does UVE's green power usage impact the environment?
UVE's green power usage helps reduce air pollution and greenhouse gas emissions, equating to significant reductions in emissions from vehicles and coal.
When did Universal Insurance Holdings join the EPA's Green Power Partnership?
Universal Insurance Holdings announced its participation in the EPA’s Green Power Partnership in a recent press release.
What recognition did UVE receive for its green power initiatives?
The EPA recognized UVE for its leadership in the green power marketplace and its commitment to reducing emissions.
