MS&AD Insurance Group, one of the largest general insurance groups in the world with a presence in over 40 countries and regions has become a signatory to the Natural Capital Declaration (NCD), the global finance-led initiative convened by the Global Canopy Programme (GCP) and the UN Environment Programme Finance Initiative (UNEP FI).
As a signatory, MS&AD’s President and CEO Yasuyoshi Karasawahas committed the global insurance group to understanding its natural capital impacts and dependencies, and supporting the development of methodologies and tools to integrate natural capital into financial products and services.
The NCD is the leading global finance sector initiative focused on natural capital, endorsed at CEO-level by over 44 financial institutions. Its signatories and supporters work with a dedicated secretariat to advance environmental risk management and innovative conservation finance, as well as financial sector accountability and disclosure for the impacts and dependencies of portfolios companies.
Over 40 non-financial organisations are NCD supporters, contributing a range of expertise to the initiative’s practical work programme to develop tools, methodologies and guidance to build capacity for signatories to meet the NCD commitments.
MS&AD Insurance Group has a strategic vision which is ‘To create a world-leading insurance and financial services group that continues to seek sustainable growth and to enhance enterprise value’.
As a result the organisation is strongly obligated to integrate and embed environmental and social considerations throughout its products and services and believes that by becoming a signatory to the NCD this will help to underpin this transition.
“In respect of natural capital, MS&AD explicitly includes “sustainable use of resources” and “conservation of biodiversity” as our key issues in “MS&AD Insurance Group Environmental Basic Policy” and we promote our activities in these fields. We declare to the society that we will take a responsible role in the field of natural capital (biodiversity) as a signatory.” said Yasuyoshi Karasawa, MS&AD’s President and CEO.
Marie Morice, Head, Natural Capital Finance Programme, NCD and GCP said “We are extremely excited to have a global insurance provider like MS&AD involved with the Natural Capital Declaration. The NCD is looking forward to working with MS&AD and other insurers to accelerate the understanding of how natural resource constraints are likely to affect current business models and collaborate in the development of sector wide tools and methodologies to mitigation these risks, whilst identifying potential transition opportunities”.
For further information or to arrange interviews, please contact:
Natural Capital Declaration
Rachel Mountain, Head of Communications, Global Canopy Programme email@example.com, +44 (0)1865 724 333
Hiroko Urashima, Manager of Corporate Social Responsibility Section, Corporate Planning Department.
firstname.lastname@example.org +81 (3) 5117 0201
About the Natural Capital Declaration
The Natural Capital Declaration (NCD) is a global finance-led initiative to integrate natural capital considerations into financial products and services, and to work towards their inclusion in financial accounting, disclosure and reporting. It is signed by the CEOs of 40 financial institutions, which are actively working with supporting (non-financial) organisations to develop methods to implement the four commitments in the Declaration.
This is being done through a steering committee of signatories and supporters and four working groups, supported by a secretariat formed of the UNEP Finance Initiative and the Global Canopy Programme (GCP). The NCD is developing a range of tools to facilitate integration of natural capital factors into financial products and services and strengthen management of natural resource and environment-related risks and opportunities.
For more information visit www.naturalcapitaldeclaration.org
About UNEP Finance Initiative
The United Nations Environment Programme Finance Initiative (UNEP FI) is a unique partnership between UNEP and a global network of over 200 banks, insurers and investors from 51 countries. UNEP FI aims at creating an enabling environment for financial institutions to embed sustainable development policies into their operations, and its mission is to mainstream the integration of sustainability across the finance sector. It provides a neutral space to convene stakeholders and acts as a platform at the intersection between finance, science and policy. Visit www.unepfi.org
About the Global Canopy Programme
The Global Canopy Programme (GCP) is a tropical forest think-tank and international NGO, working to demonstrate the scientific, political and business case for safeguarding forests as natural capital that underpins water, food, energy, health and climate security for all. www.globalcanopy.org
About MS&AD Insurance Group
MS&AD Insurance Group Holdings, Inc. is the insurance holding company of the new Group formed in April 2010 through the merger of Aioi Insurance Co., Ltd., Nissay Dowa General Insurance Co., Ltd., and Mitsui Sumitomo Insurance Group. The purpose of MS&AD insurance Group is to achieve sustainable growth and to enhance enterprise value through the creation of a world-class insurance and financial services group that operates globally, by rapidly and significantly improving quality and expanding its operating presence and corporate resources.