With “a resilient and sustainable society” as our vision for society by 2030, the Group is promoting various initiatives toward Creating Shared Value (CSV) with society using the SDGs as a guide. In order to solve social issues through our business, it is essential for each Group employee to deepen their understanding of CSV and the SDGs. From 2018, the Sustainability Contest, which aims to raise awareness among employees, are yearly held to recognize outstanding initiative in CSV through proposals and initiatives that lead to solutions on social issues.
The fourth contest, in 2021, attracted 385 submissions from around the world regarding a wide range of social issues, including climate change and D&I, and response to the ongoing COVID-19 pandemic. With five aspects - social impact, communication, value creation, approach, and prospects - as criteria for selection, among sixteen winners in the contest, one for best performance award and five for outstanding performance awards were chosen through an online examination/voting by Group executives
[Grand Prize Winner]
Fire & Personal Accident Insurance Department/Marketing & Sales Promotion Department, Mitsui Sumitomo Insurance Co., Ltd.
Fire & Personal Accident Insurance Department, Aioi Nissay Dowa Insurance Co., Ltd. Risk Management Dept. 1st/Risk Management Dept. 3rd, MS&AD InterRisk Research Institute & Consulting, Inc.
Products/Services Development for Carbon Neutrality Support
While the international focus has been shifting to decarbonization, the cost of introducing equipment that can contribute to reduction of CO2 emissions is a major issue. Under its corporate fire insurance (Comprehensive Corporate Property Insurance) product line, the Group developed and launched in August 2021 a “Carbon Neutral Support Endorsement” to cover additional expenses for new adoption of equipment, etc., which helps to reduce CO2 emissions in the restoration of damaged buildings, etc.
In addition to providing insurance coverage, we have been developing Carbon Neutral Support, a comprehensive consulting menu which supports the following three stages in one stop: (1) Introduction (support for seminars/study sessions), (2) Strategies (CO2 emissions simplified calculation service, etc.) and (3) Reduction (energy saving/renewable energy introduction support). In line with the concept of Build Back Better, we contribute to the realization of a decarbonized society in collaboration with our customers through our insurance and consulting services, which leads to customers’ taking measures to reduce CO2 emissions.
The Sustainability Contest helps employees to develop a ‘sustainability’ mindset and raises awareness of linking their daily work with CSV. We will continue to tackle social issues by creating new business models and sharing success cases with the entire Group through the Sustainability Contest, for creating a virtuous cycle of commonly practiced sustainable initiatives within the Group.