Why does an insurance company undertake environmental protection?
We offer 'Safety and Security' to customers through our core business in insurance, striving to protect social prosperity and comfort. Now, social living conditions are threatened by various problems affecting the global environment, such as climate change, which has become one of the greatest risks facing humanity. Seeking to contribute to customers' social well-being, we have been taking positive action to protect the global environment. In the material below, we will explain the involvement of non-life insurance companies in environmental issues.
'All people are environmental victims as well as offenders'
During the latter half of the 1980s and into the 1990s, new environmental issues involving the whole earth began to attract attention. One such problem, the issue of global warming, is one that all nations, organizations, and people on earth must confront on a united basis, because an increase in emissions of greenhouse gases can bring about climate change with serious social and economic consequences worldwide.
Insurance companies can have an impact on the global environment through consumption of energy and resources in connection with business activities, although this impact may be comparatively small. Consequently, as 'global citizens' of the planet, we should take the initiative to reduce environmental impact.
Non-life insurance industry and the issue of climate change
Furthermore, there is a close relationship between climate change and the core business of non-life insurance companies. For example, many insurance companies express concern that global warming and climate change may have a serious influence on their business, considering the substantial amount of claims paid due to the frequent occurrence of natural disasters. Climate change is now considered a crucial issue that non-life insurers must address over the medium- to long-term.
We consider that it is the duty of the non-life insurance industry to accept business and pay claims steadily over the medium- to long-term, thus providing customers with 'Safety and Security'. This contributes to social prosperity and well-being, despite such major challenges as global warming and abnormal weather conditions.
