The move, which is part of the BF&M's ongoing 'Green Initiative', will support Greenrock, with every shareholder who agrees to receive their report electroncially making a one-time donation to the environmental charity, with a potential for $12,000 to be raised from the insurer's 1,200-strong shareholder base. 

The majority of the paper version of the report is printed on recycled paper, while the company's green projects include the use of energy efficient lightbulbs at its headquarters and a website that allows online transactions to cut down on paper usage, as well as a company-wide recycling program. 

"Environmental responsibility is of great importance to BF&M," said John Wight, president and CEO of BF&M. "We believe that this concept ensures the long-term sustainability of Bermuda, as a community. 

"Most of our annual report is printed on recycled paper; "Most of our annual report is printed on recycled paper; however, we would like to take this a step further by offering our shareholders the option to receive an electronic version of the annual report and proxy form." 

Greenrock president Andrew Vaucrosson said: "Greenrock is delighted with BF&M in making this decision and giving us a chance to be part of this wonderful initiative. 

"Not only are we grateful to have been selected as the financial beneficiaries, we applaud BF&M's thoughtfulness and innovation in encouraging the use of electronic communications in an area traditionally dominated by paper products. 

"We believe this scheme will be a win for all concerned: the environment benefits through less paper and energy waste, the shareholders receive a report that can be more easily reviewed, searched, stored and shared, and BF&M will have both administrative and cost savings, the latter of which they are generously passing on to us. 

Mr. Vaucrosson said that all funds raised would go into Greenrock's 'Changing The Mindset' fund, which provides the 'seed capital' for many of its new and consultancy projects. 

This year, Greenrock launched the Bring Your Own Bottle campaign, with the introduction of a safe, reusable and affordable stainless steel bottle to the Island, with plans in March to co-ordinate Earth Hour, which was initiated globally by the World Wildlife Fund, to promote awareness of energy conservation and show how collective action on something as simple as turning off one's lights for one hour can make a difference. 

BF&M shareholders who want to be part of this initiative and support Greenrock can contact Mandy Lewis at 298-0335 or email mlewisbfm.bm, to request a copy of their 2009 Annual Report electronically.