The Nippon Life Insurance Company launched an eco-friendly loan service targeting individual and small business customers on October 16, 2007. When an individual customer builds or purchases a home that meets certain environmental standards, the company applies an interest rate 0.1 percent lower than its standard rates (on a loan of 50 million yen or less in principle) during the first 10 years of the loan period . To qualify, the house must meet one of the following housing performance standards set by the Japan's Housing Quality Assurance Act; the house must be either (1) an earthquake-proof structure, (2) a Class 4 energy-conserving structure, or (3) a Class 2 or 3 earthquake resistant structures (regarding prevention of building frame collapse).

The company also applies a 0.25 percent lower interest rate to small business customers (on a loan of 30 to 500 million yen in principle) if they are officially certified under ISO 14001 or Japan's own EcoAction 21 standards.

This is the first time for a life insurance company in Japan to introduce a preferential interest system in an effort to raise environmental awareness. The company plans to implement other environmental action programs in various fields in order to fulfill its corporate social responsibility commitments.

http://www.nissay.co.jp/okofficial/english/index.html

Posted: 2008/03/01 02:33:51 AM

TAG Eco-product/Business , Non-manufacturing industry