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We're involved in various voluntary domestic and international initiatives that address corporate social responsibility concerns.
On November 11, 2008, both companies were certified as Eco First Companies (Group) under the Eco First program set up by Japan’s Ministry of the Environment to spur even greater environmental protection efforts by top industry players. We will continue stepping up our environmental initiatives.
UNEP FI is an international financial sector network of 175 financial institutions from 37 countries (as of April 2009). Since its launch in 1992, the initiative has promoted the integration of environmental considerations into all aspects of the financial sector’s operations and services in pursuit of sustainable development that is conducive to both economic progress and environmental protection. Both Sompo Japan and Nipponkoa Insurance signed a statement declaring their intention to tackle environmental issues head on and are building cooperative ties on a global basis to do so.
The Principles for Responsible Investment drawn up by the UNEP FI provide a framework by which financial institutions can incorporate consideration for environmental, social, and corporate governance (ESG) issues into their investment decision-making practices.
Nipponkoa Insurance issued a Carbon Neutrality Declaration in July 2008, stating its intention to achieve net zero CO2 emissions by fiscal 2012 by cutting its CO2 emissions by at least 20% (versus fiscal 2006) and purchasing carbon credits to offset unavoidable emissions. By transferring purchased emissions credits to the Japanese government, Nipponkoa Insurance is also helping Japan meet its greenhouse gas emissions reduction target under the Kyoto Protocol. In addition to cutting use of electricity, gas, gasoline, and other forms of energy that it uses directly, Nipponkoa aims to cut its share of energy used in areas such as sales activities, business trips, commuting, paper use, printing, waste handling and disposal, and distribution.
The CDP is an international collaboration of institutional investors. It aims to motivate corporate action against climate change by calling on companies worldwide to disclose their climate change strategies and greenhouse gas emissions. In 2009, 475 financial institutions participated in the CDP and disclosures were requested from some 3,700 companies.
The World Business Council for Sustainable Development (WBCSD), established in 1995, is a CEO-led global association of companies. As of April 2009, some 190 company leaders from 36 countries were involved, providing industry leadership on the environment and sustainable development through lively debate, policy recommendations, and other activities.
The United Nations Global Compact is a partnership initiative between the UN and business that motivates companies to grow into better corporate citizens by voluntarily addressing the areas of human rights, labor, the environment, and anti-corruption. It was initiated in response to a proposal by then UN Secretary-General Kofi Annan.
