Cumulative J-VER Carbon Offset Amount for Disaster-stricken Areas Reaches 10,000 T-CO2
Nipponkoa Insurance announced that another 2,000 tons of CO2 were offset for disaster-stricken areas under the J-VER scheme,bringing the cumulative total to 10,000 tons of CO2.
Tokyo (I-Newswire) October 18, 2013 - 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.
(Source: Forestry Agency website)
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
•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;
About Sompo Japan Insurance Inc. and Nipponkoa Insurance CO., Ltd.
Date of Establishment April 1, 2010
Nature of business Management of P&C insurance companies, More.. life insurance companies, and other
companies controlled as subsidiaries pursuant to the Insurance Business Law, and other operations incidental thereto
Capital stock ¥100 billion
Fiscal year-end March 31
Exchanges where shares to be listed Tokyo Stock Exchange (First section), Osaka Securities Exchange (First section)
Independent auditor Ernst & Young ShinNihon LLC
Stock transfer agent Mitsubishi UFJ Trust and Banking CorporationLess..
Sompo Japan Insurance Inc. and Nipponkoa Insurance CO., Ltd.
26-1,Nishi-Shinjuku 1-chome, Shinjuku-ku, Tokyo, Japan
Phone : 81-3-3349-3111
Tags:insurance carbon offset CSR Japan Earthquake corporate responsibility NKSJ Holdings J-VER disaster-stricken areas
Published On:October 18, 2013
Print Release:Print Release
If you have questions regarding information in this press release contact the company listed above. I-Newswire.com is a press release service and not the author of this press release.The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. As some companies and PR Agencies submit their press releases once per week,month or quarter, make sure to check the official company website for accurate release dates as our site displays the I-Newswire.com press release distribution date only.We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for or omissions in that information or for actions taken in reliance on that information.