1. Participation in UN Global Compact
Millea Holdings, Inc. (President: Kunio Ishihara) and Tokio Marine & Nichido Fire Insurance Co., Ltd. (President: Kunio Ishihara) expressed their intention to participate in the UN Global Compact as part of Corporate Social Responsibility (CSR) activities, and have received an invitation to join the UN Global Compact initiative. The UN Global Compact (UN GC) was officially launched in July 2000 at UN Headquarters in New York, in accordance with the basic philosophy of the ten principles of business activities relating to human rights, labor, the environment and anti-corruption measures (see Exhibit) that were proposed by United Nations Secretary General Kofi Anan at the World Economic Forum in Davos, Switzerland, in January 1999. The UN GC is a voluntary initiative, not a binding standard of conduct, to promote voluntary initiatives toward responsible corporate citizenship, aimed at encouraging corporations to voluntarily become more responsible corporate citizens and promoting the above ten principles through a world-wide sharing of good practice examples. As of April 2005, 1991 companies, labor unions and civil society organizations from all regions of the world have joined the UN GC. A total of 33 companies from Japan have joined this initiative. Millea Group will implement CSR activities based on the principles of business activities defined by the UN GC from now on, and plans to vigorously declare its support for the UN GC and its activities through various communication tools.
2. Millea Group CSR Activities Policy in Fiscal 2005
Millea Group formulated the Millea Group CSR Charter as a common guideline for implementation by each group company in November 2004, and concurrently set up the CSR Board as a driver to encourage each group company to implement CSR activities thoroughly. While each group company had individually implemented CSR activities until last fiscal year, Millea Group identifies fiscal year 2005 as the starting fiscal year addressing group-wide CSR activities in full scale, accelerating its concerted efforts, together with all group companies and all employees, under the first Group CSR Plan in this fiscal year. Millea Group will widen the scope of its Environmental Report, formerly independently published by Tokio Marine & Nichido Fire Insurance Co., Ltd. until last fiscal year. Millea Group plans to publish Millea Group CSR Report 2005 in July 2005, which will expand the scope to all group companies with a view to make a timely and appropriate disclosure of its CSR activities. Millea Group will implement well-balanced and fair management in economic, social and environmental aspects, aiming at further developing together with each stakeholder in a sustainable manner.
The Ten Principles
Principle 1: Businesses should support and respect the protection of
internationally proclaimed human rights;
Principle 2: make sure that they are not complicit in human rights abuses.
Principle 3: Businesses should uphold the freedom of association and the
effective recognition of the right to collective bargaining;
Principle 4: the elimination of all forms of forced and compulsory labour;
Principle 5: the effective abolition of child labour; and
Principle 6: the elimination of discrimination in respect of employment and
Principle 7: Businesses should support a precautionary approach to
Principle 8: undertake initiatives to promote greater environmental
Principle 9: encourage the development and diffusion of environmentally
Principle 10: Businesses should work against all forms of corruption, including
extortion and bribery.