Nipponkoa Insurance Co., Ltd. (President: Masaya Futamiya), supports low-carbon reconstruction projects*1 in the disaster-stricken areas, with the aim of contributing to the swift reconstruction of the areas affected by the Great East Japan Earthquake and the creation of environmentally friendly communities.
Nipponkoa Insurance today announced that another 2,000 tons of CO2 were offset*2 for disaster-stricken areas under the J-VER*3 scheme, bringing the cumulative total to 10,000 tons of CO2.
Moving forward, Nipponkoa Insurance will continue to support the reconstruction efforts in the disaster-stricken areas of Japan and make contributions to the realization of a sustainable society.
An offset of 10,000 tons corresponds to the amount of CO2 that is absorbed in one year by a cedar forest as large as approx. 274* Tokyo Domes.
*The calculation assumes that CO2 absorption per hectare of a cedar plantation planted in 1980 is 7.8 tons per year.
Notes:
1. Low-carbon reconstruction project
A low-carbon reconstruction project contributes to the creation of a low-carbon society through the use of woody biomass and forest management, including tree thinning in afflicted areas. It is expected that these projects will contribute to an expansion of employment opportunities and economic growth in disaster-stricken areas.
2. Carbon offsets
- A carbon offset is a partial or total compensation (offset) of greenhouse gas emissions generated in daily life, etc., by using emissions reductions realized through projects carried out elsewhere.
- If the below is applicable, Nipponkoa will pay a certain amount for each applicable case and implement carbon offsetting.
- When customers select “Eco-Net clause” or “Web confirmation” when enrolling in an automobile insurance policy
- When “Eco-parts (recycled parts)” were used for repairs, or when resin bumpers were not replaced but mended for accident repairs covered by motor vehicle insurance policies
3. Offset credits (J-VER)
J-VER is a scheme implemented by the Ministry of the Environment of Japan, which verifies credits generated through the emissions reduction and removal of greenhouse gases via domestic projects that can be used for carbon offsetting.
For more detail about this article, please see:
http://www.nipponkoa.co.jp/english/news/whatsnew/2013/2013_09_06_news.pdf
*(Source: Forestry Agency website)
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