As part of their ongoing sustainability initiative, Zurich Insurance Company Ltd. Japan (Nakano-ku, Tokyo; representative and CEO and Representative for Japan: Masachika Nishiura), in partnership with CHOOOSE, is launching a new service on October 20, 2022, which allows individual car insurance customers in Japan to understand and offset CO2 emissions from driving. This online CO2 offsetting option is facilitated by climate-tech company CHOOOSE™.
The new climate program allows customers to address CO2 emissions based on the annual mileage of their private car through a simple online procedure when they enrol in the company's Super Automobile Insurance program. By entering the size of the vehicle and driving hours or annual mileage into a CHOOOSE-powered calculator, the annual CO2 emission amount is calculated. Customers can then purchase carbon credits to offset an amount of CO2e equivalent to their estimated emissions. This purchase of verified carbon credits funds a portfolio of nature-based climate solutions in Japan and abroad that are aligned with the UN Sustainable Development Goals (SDGs).
To amplify their impact, Zurich Insurance Company will match the offsets by donating to reforestation projects run by local governments, NPOs, and other organizations in Japan.
"I believe that the actions of each individual can lead to significant change."
Masachika Nishiura, Chief Executive Officer and Representative for Zurich Insurance Company Japan, said:
“We at Zurich take climate change very seriously, and as we are treating it as a crisis, we are implementing various climate initiatives. There is only so much one company can do, and I believe that the actions of each individual can lead to significant change. I hope that the Carbon Compensated Automobile Insurance program will provide an opportunity for our customers to learn about climate change, and also provide an easy way for drivers to make their own contribution to the global environment and to take action.
"Teaming up with Zurich is a perfect example of new and innovative solutions that can contribute to scaling climate action."
"Building climate options into any experience is the mission of CHOOOSE, and teaming up with Zurich is a perfect example of new and innovative solutions that can contribute to scaling climate action. We're excited about the partnership and look forward to continuing bringing climate solutions to market together", says Andreas Slettvoll, CEO & founder of CHOOOSE.
Learn more about Climate Compensated Automobile Insurance here.
About Zurich Insurance Group
Zurich Insurance Group Ltd. ("Zurich") is one of the world's leading insurance groups, offering a broad range of products and services to more than 55 million individual and institutional customers in over 210 countries and territories. In recent years, Zurich has expanded its offerings beyond traditional insurance services to include prevention-oriented services that promote people's health and improve their resilience to the effects of climate change.
Zurich Insurance Group has been working to achieve the United Nations Global Compact "Business Ambition for 1.5°C", which aims to limit global warming to 1.5°C. Through various initiatives, they aim to achieve a balance between greenhouse gas emissions and absorption by 2030. In addition, the group launched a reforestation project called Zurich Forest in Brazil in 2020, and continues to actively address global environmental issues. For more information about the Group, please visit www.zurich.com/.
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