MILWAUKEE, May 17 -- The Wisconsin Department of Natural Resources issued the following news release:
Mortgage Guaranty Insurance Corporation (MGIC) was formally welcomed into Wisconsin's innovative environmental Green Tier program yesterday. Wisconsin Department of Natural Resources (DNR) officials and company coworkers marked the occasion by recognizing the company's past environmental efforts and future plans by raising a Green Tier flag during a celebration at MGIC's headquarters.
"MGIC's example as our newest Green Tier participant should inspire all of us to examine how we can become more sustainable," DNR Secretary Cathy Stepp said. "Even though they are not bound by environmental regulations they are finding boundless opportunities for environmental and economic gain as the first financial services firm in the Green Tier program."
MGIC is the nation's largest private mortgage insurer as measured by $169 billion primary insurance in force covering 1.1 million mortgages as of March 31, 2012. MGIC serves lenders throughout the United States, Puerto Rico, and other locations helping families achieve homeownership sooner by making affordable, low-down-payment mortgages a reality. The MGIC headquarters in Milwaukee employs approximately 700 people.
As part of the company's commitment to environmental improvement, MGIC started a corporate-wide sustainability program in 2008. So far the program's results benefit both the environment and the bottom-line:
* completed phase 1 of installing occupancy sensors, which are expected to save $86,000 over seven years;
* utilized occupancy sensors to reduce HVAC run time, which provided a 40 percent return on investment;
* using environmentally friendly cleaning products;
* encouraging use of reusable cups in MGIC's restaurant;
* reduced over-all electrical consumption by 24 percent since program implementation; and
* reduced carbon footprint by 11 percent.
As part of their acceptance into Green Tier, MGIC will implement an Environmental Management System, or EMS - a "plan-do-check-act" tool that helps a company understand its environmental impacts. An EMS will set benchmarks to measure environmental improvements and allow MGIC to monitor its sustainability performance with indicators such as greenhouse gas emission reductions, energy conservation and incorporation of locally-based suppliers.
"MGIC's commitment to implement a corporate-wide sustainability program provides positive benefits to the environment while also reducing or containing building operating expenses," said Frank Nicosia, Manager, Administration, MGIC. "We look forward to working with the DNR as a member of the Green Tier program."
As part of its Green Tier participation, MGIC will expand upon its past successes. Long-term plans include installing more lighting motion sensors and frequency drives on motors to save more energy, implementing sustainable landscaping measures, documenting efficiency gained from new air handlers, trying a hybrid vehicle in their fleet for evaluation purposes, and finalizing their sustainable purchasing policy.
With its Green Tier status, MGIC joins a few other select Milwaukee businesses like Johnson Controls, Lakefront Brewery, Perlick Corporation, and Rockwell Automation.
Wisconsin's Green Tier program encourages businesses to voluntarily move beyond regulatory compliance in order to promote superior environmental performance. MGIC is participating in Tier 1 of the program, which is designed to encourage new goal setting and innovation.
A unique program in the nation, Green Tier provides a range of tools to create a powerful, sustainable force for economic growth and environmental health. Green Tier participation has grown throughout Wisconsin's business community in recent years as more companies have found tremendous value - and deep savings - through greater environmental performance.
Additional information about MGIC and the Green Tier program can be found on the DNR wesite and on [www.mgic.com].
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