FP Marine Risks to open representative office in Beijing

December 2007

BEIJING and HONG KONG, 20 December 2007 – FP Marine Risks Limited, a Hong Kong based Lloyd’s broker, today announced that the company has received approval to open a representative office in Beijing.  The new office is scheduled to open in early 2008.

Heading up the Beijing office will be Wang Wei who, as part of the Hong Kong team, has been a key executive in the company for a number of years.

Wang Wei says: “As a Hong Kong insurance broker, we are particularly excited about the opportunity to open an office in China.  We look forward to engaging in even greater dialogue with the local insurance market, as well as developing closer relationships with our existing contacts in China.”

FP Marine Risks will be the first foreign insurance broker in China that specialises in marine.  Philip Bilney, Group Executive Director says: “We hope to contribute to the development of the China market by introducing a dedicated, international marine focus.  This will represent a new perspective and one which we believe will offer significant benefits for all concerned.”

Asia Pacific is FP Marine Risks’ core operating region. Beijing will be the company’s fifth office and represents the latest stage in its strategy of expansion and ongoing investment in the region.Philip continues: “The move into China is a natural progression for us – we continue to grow internationally and feel very fortunate that we can be a part of such an important market.”

FP Marine Risks becomes Carbon Neutral

March 2007

HONG KONG, 12 March 2007 – FP Marine Risks Limited, a specialist marine insurance broker headquartered in Hong Kong , has become a recognised Carbon Neutral company, offsetting all carbon emissions that result from the company’s air travel.

Philip Bilney, Group Executive Director of FP Marine Risks, said: “Perhaps the biggest challenge facing humanity today is the crisis of climate change.  As a young and innovative company, this issue has taken a key place in our corporate policy and we are keen to offset and reduce some of the inevitable impact of our day-to-day business”.

FP Marine Risks has achieved its CarbonNeutral Flights status by working with The CarbonNeutral Company, based in London. Carbon footprint assessments are audited by accountants KPMG, and the offset projects chosen are in accordance with the CarbonNeutral Protocol which assures their quality. 

Bilney said: “We are an international company and an important part of our business is meeting clients face-to-face, which necessarily requires travel. We have to reduce our impact on the environment, without losing the essence of what makes FP Marine Risks unique. We also wanted the offset project to yield benefits locally; we continue to witness rapid economic growth in Asia, but it has come at an environmental price.”

The carbon emitted through the company’s international travel and the cost to offset that carbon is calculated by The CarbonNeutral Company. The total offset amount is being invested in a wind power project in the Indian states of Karnataka and Rajasthan designed to provide electricity from a renewable source for 30,000 homes and help to lower India’s dependency on coal-generated power.

 “Above all else, we hope that by announcing our Carbon Neutral recognition we can raise awareness of the resources available to businesses and individuals who also want to offset and reduce their environmental impact,” said Bilney.   

The Project

This project supports the construction of wind turbines at two sites in the Indian states of Karnataka and Rajasthan.

A total of ten wind turbines have been constructed, with an overall capacity of 8 MW. The electricity they produce is enough to provide for almost 30,000 homes.

The wind farms help to overcome India’s heavy reliance on coal for electricity generation. Wind power incurs none of the CO2 emissions or solid waste problems associated with coal-fired power stations.

All parties involved in the design, construction and operation of the wind farms are Indian so the project helps to develop the wind power industry locally and sustainably. Employment has been provided in the construction phases of the sites and there is ongoing local employment in operating the wind farms.

As a new technology, wind power is currently a more expensive way of generating electricity than conventional fossil fuel power stations. Through the sale of carbon credits, wind farms can start to pay for themselves.

As India’s economy develops and demand for electricity grows, this kind of project will be vital in helping India choose a clean development path.

The CarbonNeutral Company
www.carbonneutral.com

The CarbonNeutral Company is the world's leading full service carbon management business, enabling businesses and individuals to tackle climate change impacts in a way which delivers value - commercial, environmental, personal.

The company works with over 200 B2B, B2C, NGO and government clients including BSkyB, Honda, Avis Europe, IUCN - The World Conservation Union, American Express, Berkeley Homes, Ricoh and the Radio Taxis Group as well as celebrities and 50,000+ consumer clients.

CarbonNeutral®, the registered trademark of The CarbonNeutral Company, is the world's leading brand mark for action on climate change.

It means global warming emissions have been measured, reductions recommended, and the remaining emissions 'offset' through renewable energy and/or sustainable forestry projects.

For more information please go to www.carbonneutral.com or call +44 (0) 207 833 6000.