FRIDAY is a fast growing technology company that offers digital insurance products. In order to be successful in the long term, we focus on sustainable and responsible actions. This is why FRIDAY turned all of its activities climate-neutral and offset all CO2 emissions since the company was founded.
FRIDAY has offset 100% of its emissions since our launch in March 2017. We are convinced that insurers can contribute to environmental protection - even if they don't produce cars or build houses. Customers share this point of view. Every second individual in Germany is willing to offset CO2 at their own expense. For every third customer, CO2 compensation is important when it comes to car insurance.
By choosing FRIDAY, customers are choosing a sustainable insurance. FRIDAY offers its customers tariffs that enable CO2 compensation. In 2019, FRIDAY customers offset over 1,300 tons of CO2. With fair billing per kilometer, we want to create the incentive to leave the car behind. Those who drive less automatically pay less for their insurance. At FRIDAY, customers' wallets and the environment are spared.
We have offset all CO₂ emissions from our operations and our service providers. The compensation takes place in cooperation with Planetly, a climate-tech company that calculates and offsets CO₂ emissions as well as advises on reducing them. With its compensation portfolio, FRIDAY also supports the reduction of poverty through sustainable economic development, gender equality, and the improvement of hygiene and health at the project locations. All climate protection projects supported by FRIDAY are certified according to the Gold Standard and thus meet the strictest quality requirements.
The reduction of greenhouse gas emissions is one of the most pressing challenges for climate protection worldwide. In Germany, an average of 7.9 tons of CO2 are produced per capita and year. Around a quarter of the CO2 emissions in private households are caused by mobility. FRIDAY allows motorists to offset some of these emissions without buying a new, more expensive car or having to cycle to the office.
Since its launch, FRIDAY stands for innovation and thus for responsibility in the aim of sustainable value creation. FRIDAY's investment strategy reflects this set of values. The primary goal of the investment strategy for our customers' insurance funds is to achieve the highest possible but sustainable result and to be successful and resilient in the long term.