Japan’s largest offset (8000t-CO2) through applying the J-VER scheme – eco

June 11th, 20135:09 am @

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Nipponkoa Insurance Co., Ltd. (President: Masaya Futamiya), supports low-carbon reconstruction projects* 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.

They announced that the amount of carbon emissions offset due to offset credits (J-VER) ** from disaster-stricken areas and supported by their carbon offsets *** has reached 8,000t-CO2. This is the largest quantity offset in Japan by J-VER alone.

Moving forward, Nipponkoa will continue to support low-carbon reconstruction projects in the disaster area, and contribute to the swift reconstruction of the afflicted areas and the creation of environmentally friendly communities.

The supported projects were selected on the basis of the applications received through a call for projects, and took into consideration the “level of devastation suffered,” “revitalization of local economies and creation of job opportunities by project implementation,” and “synergistic effects other than greenhouse gas reduction and removal, such as biodiversity conservation, national land conservation, and watershed conservation.” The selection was made in association with the reconstruction support efforts utilizing the offset credit (J-VER) scheme being promoted by the Ministry of the Environment of Japan

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. 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.

3. 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.

◆Nipponkoa’s insurance policies or accident repairs are applicable for carbon offsets

  • 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

*If the above is applicable, Nipponkoa will pay a certain amount for each applicable case and implement carbon offsetting.

◆Supported projects and offset amount [Group Name / Group Type / Project Site / Type / Offset Amount (t-CO2)]

  • Iwate Prefecture / Local government Rikuzentakata City, Iwate Prefecture / Forest sink / 1,780
  • Miyagi Prefecture / Local government Kurihara City, Miyagi Prefecture / Forest sink / 1,650
  • Forestry Cooperative of Tsunan Town / Forestry cooperative / Tsunan Town, Niigata Prefecture / Forest sink / 1,320
  • Ofunato City / Local government / Ofunato City, Iwate Prefecture / Emission reduction / 1,250
  • Office Chonan-kai / Private organization / Iwaizumi Town, Iwate Prefecture  / Forest sink / 555
  • Iwaki Zorin Co., Ltd. / Private enterprise / Iwaki City, Fukushima Prefecture / Forest sink / 555
  • Forestry Cooperative of the Kamaishi Region / Forestry cooperative / Kamaishi City, Iwate Prefecture / Forest sink / 530
  • Miyagi Forestry Public Corporation / Incorporated association / Kesennuma City and Minamisanriku Town, Miyagi Prefecture / Forest sink / 360

Offset Amount (t-CO2): 8,000

An offset of 8,000 tons corresponds to the amount of CO2 that is absorbed in one year by a cedar forest as large as approx. 219* 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)

About Sompo Japan and Nipponkoa

Sompo Japan Insurance Inc. and Nipponkoa Insurance CO., Ltd., leading providers of Property Casualty insurance in Japan, together established NKSJ Holdings, a joint holding company as a comprehensive service provider group for the risk and asset management in 2010, and are now preparing for a merger as “Sompo Japan Nipponkoa” by 2014.

As a leader in CSR, NKSJ Group has proactively committed to build a sustainable society over many years, focusing on its own CSR material issues such as climate change and sustainable finance. The Group is regularly recognized for its efforts for the sustainability and listed on “SAM Bronze Class”,“Prime Status” by Oekom Research, and “World’s Most Ethical Companies” in 2012.

Corporate Social Responsibility Department
Sompo Japan Insurance Inc. and Nipponkoa Insurance CO., Ltd.
Tel: +81-3-3349-9597
Fax: +81-3-3349-3304
E-mail: CSR@nksj-hd.co.jp
www.sompo-japan.co.jp/english/
http://www.nipponkoa.co.jp/english/
http://www.nksj-hd.com/en/
 

Article source: http://www.eco-business.com/press-releases/japans-largest-offset-8000t-co2-through-applying-the-j-ver-scheme/