Sustainable Business, Sustainable Planet— A Japanese Insurance Perspective

Masatoshi Sato and Masao Seki
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Masatoshi Sato: Sompo Japan Insurance Inc., 26-1, Nishi-Shinjuku 1 Chome, Shinjuku-ku, Tokyo 160-8338, Japan
Masao Seki: Sompo Japan Insurance Inc., 26-1, Nishi-Shinjuku 1 Chome, Shinjuku-ku, Tokyo 160-8338, Japan

The Geneva Papers on Risk and Insurance - Issues and Practice, 2010, vol. 35, issue 2, 325-335

Abstract: Climate change is a major issue of unprecedented proportions that will have far-reaching impacts on society and the economy, as the phenomenon will trigger an increase in flooding, drought and other natural disasters. For the insurance industry, climate change poses a great risk to management because an increase in natural disasters will lead to an increase in insurance payments. Taking their advantage as insurers, insurance companies should contribute toward the realisation of a low-carbon society and a climate-resilient society through their core business by means of mitigation and adaptation strategies. To achieve this goal, “education” is paramount, as it is the foundation of all our endeavours. For a business to grow in a sustainable manner, it is vital that the society itself develops in a sustainable manner. All organisations and individuals must embody the spirit of sustainable development in their own activities.

Date: 2010
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