Tokio Marine Newa Insurance Cuts Carbon by 774 Tons that is Equivalent to Going Around Taiwan 10 Times

published: 2022-06-13 16:04 | editor: | category: Analysis

Tokio Marine Newa Insurance announced recently that the company’s early response to the Sustainable Development Financial Supervisory Commission (FSC) by completing an inventory check for greenhouse gas 5 years in advance was awarded by the BSI with ISO14064-1. The company is also heavily engaged in the integration of green digital insurtech, and managed to conserve approximately 37.39 million sheets of paper in a year that is enough to go around Taiwan for 10 laps, and reduce 774 tons of carbon, which is the equivalent of planting more than 860K trees.

Tokio Marine Newa Insurance is actively engaged in transitioning to the era of carbon reduction by having passed the ISO14064-1 qualification and focusing on key digital technology that would facilitate carbon reduction, such as the Auto Insurance Claims Service Platform in 2021 that is capable of “reporting accidents” as well as “progress inquiry on claims and supplying additional documents”, with zero-contact services, alongside a reduction in carbon emission generated by paper consumption and transportation.

Tokio Marine Newa Insurance commented that the simultaneous drive in multiple digital and green insurance services, including electronic insurance policies, paperless insure, and mobile payment, not only improves the quality of client services and implements guarantees in the rights and interests of clients, but also facilitates clients in becoming a part of green financial development and lowering the consumption of paper, thus attaining the target of energy conservation and carbon reduction.

Tokio Marine Newa Insurance supports industrial development through actual investment, and generated 10,661,091 kW of electricity through renewable energy in 2021 from investment on green power plants, which is the equivalent of roughly 5,352 tons of carbon dioxide. The company is also active in handling businesses related to green insurance, such as the unprecedented car-sharing insurance, short-term rental auto insurance, comprehensive EV insurance, as well as engineering insurance and commercial fire insurance for electronics installations at solar equipment plants, hoping to take care of the environment through green insurance products and investment.

Tokio Marine Newa Insurance signed the Task Force on Climate-Related Financial Disclosures (TCFD) in July last year, and became a supporter of TCFD, while also focuses on the three major development of “carbon reduction in digital advanced services, green insurance products, responsible investment-friendly environment”, and constructs an innovative digital model of “sharing, data, technology, and exchange”, thus participating in carbon reduction alongside its clients.

 (Cover photo source: Forestry Bureau)

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