24 september 2009 sompo japan insurance inc associate director
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2 nd Conference of the OECD International Network on the Financial Management of Large-sale Catastrophes. Session Ⅰ  Second part. Acting on Climate Change in Asia. 24 September 2009 SOMPO JAPAN INSURANCE INC. Associate Director Corporate Social Responsibility Office Masao Seki.

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24 September 2009 SOMPO JAPAN INSURANCE INC. Associate Director

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24 september 2009 sompo japan insurance inc associate director

2nd Conference of the OECD International Network

on the Financial Management of Large-sale Catastrophes

Session Ⅰ Second part

Acting on Climate Change in Asia

24 September 2009

SOMPO JAPAN INSURANCE INC.

Associate Director

Corporate Social Responsibility Office

Masao Seki


24 september 2009 sompo japan insurance inc associate director

In 2004, 10 Typhoons Hit Japan

Source: Japan Meteorological Agency


24 september 2009 sompo japan insurance inc associate director

Top-10 Claims for Typhoons and Other Weather-related Disasters in Japan

(million $)

Insurance payments for fire and miscellaneous, automobile, marine(Total payments by 20 member companies of General Insurance Association of Japan)$1=\100

Source: The General Insurance Association of Japan


24 september 2009 sompo japan insurance inc associate director

Our Approaches to Climate Change

Insurance companies should address climate change with two approaches: mitigation and adaptation.

Low CarbonSociety

Climate-Resilient

Society

Adaptation

Mitigation

Integration

Business

Civil

Society

Government

Scientists


24 september 2009 sompo japan insurance inc associate director

Mitigation Approach

Insurance companies should serve as “catalyst” for actions to promote a low carbon society.

Insurance Products

and Services

  • Eco-Safe Driving

  • Automobile Parts Recycling Campaign

  • Promotion of alternative energy through the

  • provision of weather derivatives

Investment

  • Eco-fund / SRI fund

  • Loan for green buildings

  • Principle for Responsible Investment

  • Carbon Disclosure Project

Carbon Footprint

Reduction

  • Installation of energy-efficient equipment

  • Reducing waste and promoting recycling

  • Environmental management systems

  • Green Procurement


24 september 2009 sompo japan insurance inc associate director

Mitigation -Insurance Products and Services-

Insurance products and services such as Weather derivatives and Eco-Safe Driving can help corporations and individuals mitigate the discharge of CO2.

Eco-Safe Driving

Weather derivatives

GIAJ (General InsuranceAssociation of Japan) has developed the "Eco-Safe Driving" program, which contributes not only to fuel saving and CO2 reduction but also safer driving.

GIAJ (General InsuranceAssociation of Japan) has developed the "Eco-Safe Driving" program, which contributes not only to fuel saving and CO2 reduction but also safer driving.

Promotion of solar power production

through the use of weather derivatives

Weather derivative

for wind power producers


24 september 2009 sompo japan insurance inc associate director

8,000

7,000

6,000

5,000

4,000

3,000

2,000

1,000

0

2000

2001

2002

2003

2004

2005

2006

2007

Mitigation -Investment(1/2)-

The market size of SRI (Sustainable and Responsible Investment) in

Japan has expanded significantly in recent years.

Market size of SRI in Japan

(Million $)

$1=\100

Source: SIF - Japan


24 september 2009 sompo japan insurance inc associate director

Mitigation -Investment(2/2)-

Eco-fund

SRI fund

Sompo Japan SRI Open:Since March 2005Balance:778 million yen

(as of February 2009)

Sompo Japan Green Open:Since September 1999Balance:11.8 billion yen

(as of February 2009)

Performance of the Sompo Japan Green Open (as compared toTOPIX)

(Yen)

(Million Yen)

-Total net assets (right axis)-TOPIX (left axis) -Sompo Japan Green Open (left axis)

The constant value, calculated as the value obtained when reinvesting all dividends at the constant value of the settlement date, as compared to TOPIX (Tokyo Stock Price Index).The constant value and the benchmark TOPIX (not including dividends) are indexed as 10,000 on the date of inception.


24 september 2009 sompo japan insurance inc associate director

Adaptation Approach

Insurance companies should give full play to their core competency to help create a climate-resilient society.

Ensuring financial strength

  • Arrange reinsurance

  • Increase catastrophe reserve

Quick payment to

customers

  • Strengthen disaster investigation structure and claims response services

  • Provide risk management information to

  • society

  • Set up customer service for loss prevention

Preventive measures

Risk financing solutions

  • Develop risk financing solutions for adaptation


24 september 2009 sompo japan insurance inc associate director

Importance of Adaptation to Climate Change in Asia

Green: Typhoon

Heavy rain

Hurricane

Ocher: Drought

Forest fire

Red: Heat wave

Blue: Cold wave


24 september 2009 sompo japan insurance inc associate director

Adaptation -Risk Financing Solutions-

Thailand

Weather Index Insurance

Adaptation measures are particularly needed in developing

countries, which are vulnerable to the effects of climate change.

JBIC and Sompo Japan are developing weather derivatives (weather index insurance) as an adaptation measure and international framework for supporting developing countries.

Sowing

Harvesting

Tilling

Transplanting

Flowering

Drought

Weatherindex

insurance

Pictures: Embassy of Thailand website, etc.


24 september 2009 sompo japan insurance inc associate director

Integration through Education and Learning

Decade of Education for Sustainable Development

-The United Nations adopted the Decade of Education for Sustainable Development resolution in 2002.

-The overall goal of this resolution is to integrate the principles, values, and practices of sustainable development into all aspects of education and learning. -This educational effort is expected to encourage changes in behavior that will create a sustainable future in terms of environmental integrity, economic viability, and a just society for present and future generations.


24 september 2009 sompo japan insurance inc associate director

Capacity Building –Involving Key Stakeholders –

Public Seminars on the Environmentwith NGO

CSO Learning Scholarship Program

Since 1993 290 seminars

14,500 participants

(as of December 2008)

Since 2000 458 students(as of December 2008)

CSO : Civil Society Organizations

Employee Environmental Education Program


24 september 2009 sompo japan insurance inc associate director

Disaster Prevention Education “The Fire of Inamura”

●Malaysia, November 2008, UN Asia Ministry Meeting

Introduced in UN International Strategy for Disaster Reduction

Private Sector Activities in Disaster Risk Reduction

Good Practices and Lessons Learned


24 september 2009 sompo japan insurance inc associate director

Thank you for your attention


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