Tianping Auto Insurance Buys 1,428Ton of Carbon Offset

Tianping Auto Insurance Company Limited, China's first specialist auto insurer, decides to spend CNY 50,000 in purchasing 1,428 tons of carbon offsets in order to offset total emissions caused by its head office and branches in 2009.

The carbon offset came from Dongping hydropower project in Hunan Province. A carbon offset is a reduction in emissions of carbon or greenhouse gases made in order to compensate for or to offset an emission made elsewhere. It is an internationally recoginized approach for environmental protection.

China allows companies or other entities to buy carbon offsets via China Beijing Environment Exchange in order to comply with caps on the total amount of carbon dioxide they are allowed to emit.

Tianping Auto Insurance in September 2009 took the lead to buy 8,026 ton of carbon offsets produced in Beiijing's green commuting campaign during the 2008 Olympic Games at CNY 278,000. The carbon offset was used to offset its emissions from December 2004 to December 31, 2008.

Moreover, the Shanghai-headquartered auto insurer handles office work in a low-carbon manner, including electronic policies and paperless office. It also actively took part in low-carbon environmental protection activities.