DOCSLIB.ORG

How Can Air Travel Contribute to the Costs of Adapting to Climate Change?

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
How Can Air Travel Contribute to the Costs of Adapting to Climate Change? HOW CAN AIR TRAVEL CONTRIBUTE TO THE COSTS OF ADAPTING TO CLIMATE CHANGE? The feasibility of the International Air Passenger Adaptation Levy (IAPAL) as a market governance mechanism Antonia Custance Baker – 2011 First published by International Shaping Sustainable Markets ACRONYMS AND Institute for Environment and is the new flagship research project for ABBREVIATIONS Development (UK) in 2011 the Sustainable Markets Group at IIED. ABTA Association of British Copyright © International Institute Can markets be ‘governed’ to better Travel Agents for Environment and Development benefit people and planet? This project APD Air Passenger Duty (UK) explores the individual and combined All rights reserved impact of market governance mechanisms CDM Clean Development ISBN: 978-1-84369-790-9 on sustainable development to find out Mechanism For further information please contact: what works, where and why. Some of CEC Commission of the International Institute for Environment these mechanisms are well established. European Communities and Development (IIED), 3 Endsleigh Others are innovative ideas yet to be CO2 Carbon dioxide Street, London WC1H 0DD, United tested in the real world. Kingdom. [email protected], COP Conference of Parties We want to improve and broaden www.iied.org/pubs EACC Economics of Adaptation understanding of how market to Climate Change Citation: Baker, A. (2011) How can air governance mechanisms can (World Bank) travel contribute to the costs of adapting be designed and used to secure to climate change? The feasibility of the livelihoods and protect environments. EU ETS European Union Emission International Air Passenger Adaptation Find out more about our work at Trading Scheme (EU) Levy (IAPAL) as a market governance http://shapingsustainablemarkets.iied.org GEF Global Environmental Facility mechanism. International Institute for We welcome your comments on this GHG Greenhouse Gas Environment and Development. London. publication or other aspects of Shaping GIACC Group on International Photos Sustainable Markets. Please contact Aviation and Climate Change p12 Climate Change Group at IIED series editor, [email protected] IAPAL International Air Passenger p22 Jess Ayers at IIED Disclaimer: This paper represents Adaptation Levy p27 OneWorld UK the view of the author and not IATA International Air Transport Designed by necessarily of IIED. Association SteersMcGillanEves Acknowledgements ICAO International Civil Aviation 01225 465546 The author would like to thank Emma Organization Printed by Blackmore, Muyeye Chambwera, IMO International Maritime Printed by Park Communications, UK. Sabine Minniger and Tom Birch for their Organisation FSC certified. review of this paper and their many IPCC Intergovernmental Panel on contributions and insights. Edited by Climate Change Nina Behrman IIED is grateful for the support from its IATAL International Air Travel Series editor Joint Framework donors DFID, DGIS, Adaptation Levy Emma Blackmore Danida, SIDA, NORAD and Irish Aid. LDC Least Developed Country Please recycle About the author MGM Market Governance Antonia Custance Baker studied Mechanism Economics at Cambridge followed NAPA National Adaptation by an MSc in Political Economy of Programmes of Action Development at the School of Oriental NEF and African Studies. Antonia spent New Economics Foundation two years in Namibia as part of the NGO Nongovernmental Overseas Development Institution Organisation Fellowship working for the Department UNDP United Nations Development of Environment and Tourism and Programme the Namibian Nature Foundation. UNEP United Nations Environment Antonia can be contacted on Programme [email protected] UNFCCC United Nations Framework Convention on Climate Change UNTWO United Nations World Tourism Organization WEF World Economic Forum WMO World Meteorological Organization WTTC World Travel & Tourism Council HOW CAN AIR TRAVEL CONTRIBUTE TO THE COSTS OF ADAPTING TO CLIMATE CHANGE? The feasibility of the International Air Passenger Adaptation Levy (IAPAL) as a market governance mechanism Antonia Custance Baker – 2011 Summary 04 Foreword 06 Introduction 08 ONE – KEY ASSUMPTIonS 10 Expected costs of adaptation Expected sources of adaptation funding Potential revenue from IAPAL TWO – CURRENT INTERNATIonAL AGREEMENTS 18 Current agreements and the ICAO EU Emission Trading System Case study: the United Kingdom Air Passenger Duty THREE – MAJOR STAkeHOLDERS 30 Airline companies The tourism sector Environmental NGOs and lobby groups The public in developed countries Conclusions and recommendations 38 References 40 Notes 43 FIGURE 3.1 Survey results on the allocation of revenue from taxes on air travel 36 TABLES 1.1 Estimated annual adaptation funding needed in developing countries (US$ billion) 11 1.2 New bilateral and multilateral climate funds 14 1.3 Price-elasticity of demand for flights 15 1.4 IATA geographic market analysis: estimated price-elasticity multipliers 16 2.1 The UK Air Passenger Levy, according to distance travelled 27 2.2 Current and forecast receipts from Air Passenger Duty 28 3.1 Emissions from global tourism in 2005 32 BOXES 2.1 Summary of Programme of Action on International Aviation and Climate Change 21 2.2 Summary of the Aviation Directive 26 SUMMARY By 2050, the costs of adapting to climate change This paper analyses current international agreements, in developing countries could reach US$100 to determine the feasibility of introducing IAPAL. billion per year, according to estimates from The International Civil Aviation Organization UNDP and the World Bank. Despite international (ICAO) is the UN agency with global responsibility pledges of financial support to developing for establishing standards, recommended practices countries for adaptation (and mitigation), it is and guidance on various aspects of international unclear where this funding will come from. aviation, including environmental protection. Despite New and additional sources of funding for ICAO’s current focus on the mitigation aspects of adaptation are desperately needed. aviation, the evidence suggests no likely contradiction in including a levy for adaptation purposes. This is The International Air Passenger Adaptation Levy providing that the purpose of IAPAL – adaptation (IAPAL) is a proposed new purchase tax on air rather than mitigation – is clear and that IAPAL tickets, the proceeds of which would be dedicated is not introduced at the expense of an effective to investment in adaptation to climate change. mitigation policy. IAPAL would not mitigate the effects of climate change because it does not aim to reduce flight The application of the European Union Emissions numbers and therefore aviation’s contribution to Trading Scheme (EU ETS) does not preclude climate change. IAPAL could immediately raise the use of revenue-raising instruments such up to US$10 billion annually for adaptation, and as IAPAL. Air Passenger Duty (APD) continues considerably more in the longer term. to be implemented in the UK, for example, as does the International Solidarity Levy in France. Aviation is a sector with a relatively low price- Using the UK as a case study, this paper explores elasticity of demand, meaning that price increases the possible administration of IAPAL, and do not greatly reduce the demand for most flights. possible methods of revenue collection. The This makes taxation an unsuitable method of APD demonstrates how a simple, single levy can reducing demand but indicates that it could produce high revenues with very low administration be suitable for raising revenue. It also suggests costs. It also demonstrates a political obstacle that that it could raise a considerable amount of IAPAL may face – governments prefer taxes paid revenue. This paper revisits the key assumptions within their countries to be returned as national made in the original paper proposing this revenue rather than to an international fund. scheme (by Müller and Hepburn in 2006), while also offering fresh thinking. 04 For the IAPAL scheme to be feasible, it must IAPAL is fair because it charges those who be accepted by several stakeholder groups are able to pay, and who contribute to climate with considerable influence and lobbying power change through air travel. The evidence overall at both national and international levels. The shows that the benefits of IAPAL undoubtedly major opposition to IAPAL is likely to come from outweigh the costs. Although IAPAL has not the aviation industry, particularly as there may been high on the political agenda at national or be some reduction in demand for flights. Budget international negotiation levels, strong support airlines supplying short-haul leisure flights are is likely if the idea is reintroduced. This paper likely to be most affected and most resistant suggests that IAPAL is a mechanism that is to the implementation of IAPAL. technically relatively straightforward to implement, and could be implemented quickly. IAPAL, The potential benefits of IAPAL for countries deserves urgent support as a tool to raise reliant on tourism are likely to outweigh the revenue for adaptation. costs of slightly reduced tourist numbers. However, tourism should be borne in mind when setting an appropriate price level for IAPAL. NGO and environmental lobby groups may criticise IAPAL for not focusing on mitigation efforts, and because the levy is applied per IAPAL COULD passenger rather than by emissions – which means it does not focus on cleaner technologies RAISE UP TO and fuller planes. However, recognition
Load more

Recommended publications
  • German Divergence in the Construction of the European Banking Union
    The End of Bilateralism in Europe? An Interest-Based Account of Franco- German Divergence in the Construction of the European Banking Union Honorable Mention, 2019 John Dunlop Thesis Prize Christina Neckermann May 2019 M-RCBG Associate Working Paper Series | No. 119 The views expressed in the M-RCBG Associate Working Paper Series are those of the author(s) and do not necessarily reflect those of the Mossavar-Rahmani Center for Business & Government or of Harvard University. The papers in this series have not undergone formal review and approval; they are presented to elicit feedback and to encourage debate on important public policy challenges. Copyright belongs to the author(s). Papers may be downloaded for personal use only. Mossavar-Rahmani Center for Business & Government Weil Hall | Harvard Kennedy School | www.hks.harvard.edu/mrcbg The End of Bilateralism in Europe?: An Interest-Based Account of Franco-German Divergence in the Construction of the European Banking Union A thesis presented by Christina Neckermann Presented to the Department of Government in partial fulfillment of the requirements for the degree with honors Harvard College March 2019 Table of Contents Chapter I: Introduction 3 Statement of question and motivation - 3 Banking Union in the era of postcrisis financial reforms - 6 Outline of content and argument - 11 Chapter II: Theoretical Approach 13 Review of related literature - 13 Proposed theoretical framework - 19 Implications in the present case - 21 Methodology - 26 Chapter III: Overview of National Banking Sectors
    [Show full text]
  • Synthesis Between Islamic and Cooperative Banking: a Way for Inclusive Growth Through Microfinance
    Synthesis between Islamic and Cooperative Banking: A way for inclusive growth through Microfinance Ravindra Sadanand Chingale, Ph.D. scholar, National Law University, Delhi, [email protected] Vaishali Kant, Ph.D. scholar, National Law University, Delhi, [email protected] Abstract Banking is the key machine in the financial engineering which inputs the poor with finance and helps them to stand them on their own feet and thus responsible for the inclusive and overall growth of the country. Cooperative banks are different from the private banks and government banks. The aim of the cooperative bank is to cooperate with the poor people and guide in overall progress, which includes not only economical but also psychological balance. Access of financial services to the poor is indeed important for the success of any economy. But still it is believed that India needs inclusive banking and pro poor banking. It is found that most of the rural part of the India is out of the reach from the bank. Evaluating the concepts of Islamic banking and cooperative banking, this paper discusses the use of new trends and scope for cooperative banking in the light of Islamic banking to make it more useful and trustworthy to the poorest of the poor to assimilate in the process of financial engineering and inclusive growth. This paper tries to synthesis between these two aspects in the background of Indian microfinance and inclusive banking. This paper is an attempt to introduce an innovative and productive banking system in India which has a spiritual base. The authors are aiming for the evolution of banking system in India having a spirit of inclusive growth, upliftment and empowerment of poor by introducing new ways in the existing cooperative banking structure.
    [Show full text]
  • Guidance Paper
    June 2015 Enhanced Guidance for Effective Deposit Insurance Systems: Multiple Deposit Insurance Organizations Guidance Paper Prepared by the Research and Guidance Committee International Association of Deposit Insurers C/O BANK FOR INTERNATIONAL SETTLEMENTS CENTRALBAHNPLATZ 2, CH-4002 BASEL, SWITZERLAND TEL: +41 61 280 9933 FAX: + 41 61 280 9554 WWW.IADI.ORG Table of Contents Executive Summary and Enhanced Guidance ………………….......................2 I. Introduction and Purpose……………………………………………………..…6 II. Methodology……………………………………………………………….…………11 III. Why Do Some Countries Have Multiple Deposit Insurance Organizations?.................................................................................12 IV. Public Policy Objectives, Mandates and Powers of Multiple Deposit Insurance Organizations………………………………………………..…….….15 V. Governance Arrangements of Multiple Deposit Insurance Organizations………………………………………………………………….….….16 VI. Coverage Levels and Scope of Multiple Deposit Insurance Organizations…….............................................................................18 VII. Funding Arrangements of Multiple Deposit Insurance Organizations……………………………………………………………………….…23 VIII. Characteristics of the Member Institutions of Multiple Deposit Insurance Organizations………………………………….………..…25 IX. Relationships and Coordination among Multiple Deposit Insurance Organizations and Other Safety-Net Agencies………………………..…..26 X. Conclusion…………………………………………………………………………..….31 References……………………………………………………………….………………….….32 1 Executive Summary The mission of
    [Show full text]
  • Integrated Annual Report
    Integrated report 2016 Integrated report 2016 4 Contents 01. Letter from the chairman and CEO 6 02. MAPFRE Group 11 Deployment 14 Key financial figures 20 Other historical data 26 03. Business model and strategy 29 Business model 30 Strategy 36 Future outlook 37 04. Business performance 39 General information 40 Información by Territorial Area 43 05. Corporate Governance 55 Governance system 56 Ethics and social responsibility 61 Risk management 68 06. Main assets 75 Financial capital 77 Productive capital 83 Human capital 89 Intellectual capital 95 Social and relational capital 104 Natural capital 119 07. Basis of preparation and presentation of the report 124 INTEGRATED REPORT 2016 5 01 Letter from the chairman and CEO 6 Dear friend, At MAPFRE we are firmly committed to making The key financial figures for the year confirm our solid progress toward the highest standards of transparency position in all markets. Revenues rose to 27,092 million and corporate good governance, and we work toward euros, of which 22,813 million correspond to revenue making this possible. That is why we are taking a step from premiums. Earnings before tax were 1,805 million further in this direction this year, with the publication euros, 22 percent up on the previous year, and net of our first MAPFRE Integrated Report, which earnings were more than 775 million euros. And all of we have drafted following the guidelines of the this, as already mentioned, with excellent technical and International Integrated Reporting Council (IIRC) operational management. framework.
    [Show full text]
  • A Scottish Approach to Taxation - CIOT/ ATT Members Survey
    A Scottish Approach to Taxation - CIOT/ ATT members survey The Scottish Government has committed itself to a tax system that adheres to Adam Smith’s four principles. Do you agree with the four principles that tax policy should: Response Answer Options Yes No Undecided No comment Count Be proportionate to the ability to pay 135 11 19 0 165 Provide certainty to the taxpayer 162 0 3 0 165 Provide convenience / ease of payment 160 2 2 1 165 Be efficient 160 0 2 2 164 If you wish, you may provide further comments e.g. the reasons why you agree or disagree with a particular principle. 27 answered question 165 skipped question 0 The Scottish Government has committed itself to a tax system that adheres to Adam Smith’s four principles. Do you agree with the four principles that tax policy should: 180 160 140 120 Yes 100 No Undecided 80 No comment 60 40 20 0 Be proportionate to Provide certainty to Provide Be efficient the ability to pay the taxpayer convenience / ease of payment A Scottish Approach to Taxation - CIOT/ ATT members survey Do you think the Scottish Government can achieve a taxation system underpinned by Adam Smith’s four principles? Response Response Answer Options Percent Count Yes 24.1% 39 No 34.0% 55 Undecided 40.7% 66 No comment 1.2% 2 If you answered ‘yes’, please explain how you think this might best be 65 answered question 162 skipped question 3 Do you think the Scottish Government can achieve a taxation system underpinned by Adam Smith’s four principles? Yes No Undecided No comment A Scottish Approach to Taxation - CIOT/ ATT members survey Are there any other principles you think that the Scottish taxation system should adhere to? Response Answer Options Count 82 answered question 82 skipped question 83 A Scottish Approach to Taxation - CIOT/ ATT members survey Council Tax – Council Tax has been devolved to Scotland since 1993, and local authorities have the power to set its level.
    [Show full text]
  • Promoting Cooperatives
    Promoting cooperatives Ranging from small-scale to multi-million dollar businesses across the globe, cooperatives are estimated to employ more than 100 million women and men and have more than 800 million individ- ual members. Because cooperatives are owned by those who use their services, their decisions balance the need for profitability with the wider interests of the community. The ILO’s Recommendation 193 on the Promo- tion of Cooperatives was adopted in 2002 and provides an internationally agreed template for national policy. The first edition of this Guide to the Recommendation was published in 2004 and has remained in demand although out of print for many years. This second edition has been updated and revised and will help cooperatives, governments, employers’ and workers’ organizations to help to Promoting cooperatives make the cooperative model to become the option for achieving sustainable development. An information guide to ILO Recommendation No. Recommendation ILO to guide An information Promoting cooperatives An information guide to ILO Recommendation No. 193 193 ISBN 978-92-2-128971-5 ILO 9 789221 289715 Promoting cooperatives: An information guide to ILO Recommendation No. 193 Copyright © International Labour Organization 2014 First published 2014 Publications of the International Labour Office enjoy copyright under Protocol 2 of the Universal Copyright Convention. Nevertheless, short excerpts from them may be reproduced without authorization, on condition that the source is indicated. For rights of reproduction or translation, application should be made to ILO Publications (Rights and Permissions), International Labour Office, CH-1211 Geneva 22, Switzerland, or by email: [email protected]. The International Labour Office welcomes such applications.
    [Show full text]
  • A Comparison of Early Twentieth Century Rural Banking in Two Regions of the Netherlands
    Paper Summary for the Erasmus University Business History Seminar, Rotterdam, 1 February 2010 God and Risk: A Comparison of Early Twentieth Century Rural Banking in Two Regions of the Netherlands Christopher L. Colvin London School of Economics and Political Science Email: [email protected] Abstract What is the relationship between religiosity and risk? Was religion important, or was the success and failure of rural Dutch banks determined solely by the economic fundamentals of the regions in which they operated? This paper examines the origins and early development of rural Dutch cooperative microfinance banks by comparing those that operated in agricultural regions around two urban centres: The Hague and Waalwijk. Although these regions differed by agricultural specialisation, farm density and level of mechanisation, they were similar in religiosity; both contained a mixture of orthodox Calvinists, liberal Protestants and Roman Catholics. The Dutch cooperative movement of the early twentieth century was religiously motivated and so these regions enjoyed competing cooperative banks, each affiliated to another Christian denomination. Using original archival material gleaned from the modern decedents of these rural banks, this paper investigates in what ways religion mattered for their structure, conduct and relative performance. Summary Contemporary banking theory posits that banks have four functions that together describe their economic scope (Freixas & Rochet 2008): (1) they offer liquidity and payment services; (2) they transform assets; (3) they manage risks; and (4) they process information and monitor borrowers. The Dutch banking system of the fin de sciècle can also be analysed along these scope lines. There existed a continuum of financial institutions that carried out these four functions, but with differing foci, in different ways and to different types of customers.
    [Show full text]
  • Air Departure Tax: Who Benefits? Analysis for Scottish Policymakers
    air departure tax: who benefits? analysis for scottish policymakers fellow travellers air departure tax: who benefits? About Fellow Travellers fellowtravellers.org Fellow Travellers is a not-for-profit, unincorporated association campaigning for fair and equitable solutions to the growing environmental damage caused by air travel. We aim to protect access to reasonable levels of flying for the less well-off, whilst maintaining aviation emissions within safe limits for the climate. About the authors Leo Murray is the founder of the Free Ride campaign and Director of strategy at climate change charity 10:10. Twitter @crisortunity Charlie Young is an independent researcher with a background in economics and climate change. He focuses on new economics and analyses the socio- economic impacts of policy interventions. Twitter @CMaxwellYoung Acknowledgements This paper was produced with the kind support of Scottish Green Party MSPs. We would also like to thank statisticians at Transport Scotland, HMRC and the CAA for their help compiling and making sense of the data that informs this analysis. Permission to share This document is published under a creative commons licence: Attribution-NonCommercial-NoDerivs 2.0 UK http://creativecommons.org/licenses/by-nc-nd/2.0/uk/ This paper was first published in June 2017. introduction This paper explores the clearest dimensions of the distributional impacts of the Scottish Government’s planned 50% cut in air passenger taxes, asking the question: who benefits? Our analysis of Civil Aviation Authority (CAA) Passenger Survey data from Scottish airports reveals that this £160m+ annual tax giveaway will predominantly go to line the pockets of wealthy frequent flyers and corporations, while the majority of Scots will lose out.
    [Show full text]
  • Air Passenger Duty and Air Departure Tax - Highlands and Islands Exemption
    SPICe Briefing Pàipear-ullachaidh SPICe Air Passenger Duty and Air Departure Tax - Highlands and Islands exemption Anouk Berthier This is a short note on the Air Passenger Duty exemption for passengers departing from areas in the Scottish Highlands and Islands and the Scottish Government's intention to put in place a similar exemption under Air Departure Tax. 12 October 2017 SB 17-70 Air Passenger Duty and Air Departure Tax - Highlands and Islands exemption, SB 17-70 Contents Background ____________________________________________________________3 Air Passenger Duty (APD) Highlands and Islands exemption ___________________4 Air Departure Tax (ADT) exemption for the Highlands and Islands _______________7 Fiscal framework considerations___________________________________________9 Bibliography___________________________________________________________ 11 2 Air Passenger Duty and Air Departure Tax - Highlands and Islands exemption, SB 17-70 Background Following the recommendations of the Smith Commission (2014), the Scotland Act 2016 provides for the power to charge tax on air passengers leaving Scottish airports to be devolved to the Scottish Parliament. The Air Departure Tax (Scotland) Bill was introduced in the Scottish Parliament on 19 December 2016 and received Royal Assent on 25 July 2017. The Air Departure Tax (Scotland) Act 2017 introduces an Air Departure Tax (ADT) which is intended to replace Air Passenger Duty (APD) in Scotland. The fiscal framework agreement between the Scottish and UK Government states that APD will be devolved in April 2018. 1 Tax bands and tax rate amounts are not provided for in the Act and will be set by secondary legislation. The Air Departure Tax (Scotland) Bill as introduced 2 did not provide for exemptions. However, the Finance and Constitution Committee ("the Committee") stated in its Stage 1 report on the Bill: 3 “ The Committee asks the Scottish Government to respond to the suggestion that flights to Highlands and Islands airports from other Scottish airports should be exempted from the definition of chargeable aircraft.
    [Show full text]
  • Organizing for Effectiveness and Growth in Cooperative Financial Services a Focus on the Americas Foreword from the International Summit of Cooperatives
    Financial Services ORGANIZING FOR EFFECTIVENESS AND GROWTH IN COOPERATIVE FINANCIAL SERVICES A FOCUS ON THE AMERICAS FOREWORD FROM THE INTERNATIONAL SUMMIT OF COOPERATIVES We would like to thank Oliver Wyman for their focus on cooperative financial services in the Americas. This pioneering report complements three previous Oliver Wyman studies focused on of the European cooperative banking sector, and its publication is timely as international stakeholders seek to understand better the organizational challenges, dynamics, and opportunities this sector represents. In contrast with Europe, where cooperative banking has a significant market share (and in some countries is the majority of the banking industry), cooperatives in the Americas typically account for a smaller proportion of both deposits and loans, and are systemically less important than their shareholder counterparts. Nevertheless, across the Americas, cooperative banks and credit unions have a significant – and, this report argues, growing – role to play given the natural synergy of cooperative values, member service, and community development. We welcome the fact that the study challenges the conventional wisdom of growth and organizational effectiveness in the sector and seeks to identify practices that will enhance the relevance and sustainability of the cooperative model. Ultimately, we believe these will help to ensure broad access to the financial system by all. SUZANNE GENDRON STÉPHANE BERTRAND Managing Vice President Executive Director Cooperation and Corporate Affairs International Summit of Cooperatives Desjardins ACKNOWLEDGEMENTS Oliver Wyman acknowledges the industry executives and other stakeholders who contributed their perspectives and served as a sounding board in helping formulate our hypotheses throughout this project. Their willingness to share their views is a testament to the collaborative nature of the cooperative movement.
    [Show full text]
  • The Current State and Bank's Roles in the Cooperative Banking Business
    THE CURRENT STATE AND THE BANK’S ROLES IN THE COOPERATIVE BANKING BUSINESS The Cooperative System engaging in “mutual insurance business” to provide insurance and the Cooperative coverage for various unforeseen events. Banking Business The cooperative organization that performs this wide range of activities comprises the agricultural cooperatives ( JA), fish- The cooperative banking business, through its network cover- ery cooperatives (JF), and the forestry cooperatives ing all of Japan, contributes to the development of the agricul- (Shinrinkumiai) at the municipal level and the respective pre- tural, forestry, and fisheries industries in Japan, and provides fectural unions and federations as well as the national union financial support to the livelihood of the local citizens. and federations of the agricultural, forestry, and fishery cooper- atives (as shown in the accompanying chart). As a whole, this Cooperative System nationwide structure from the municipal level to the national and the Cooperative Banking Business level is known as the “cooperative system.” In addition to the cooperative banking business, which The framework and functions of (1) the banking businesses includes taking deposits and making loans, our cooperative of JA and JF at the municipal level, (2) the Prefectural Banking organizations engage in a number of other activities. These Federations of Agricultural Cooperatives (Shinnoren) and include providing “guidance” on business and daily matters to Prefectural Banking Federations of Fishery Cooperatives farmers,
    [Show full text]
  • Travel Insurance Important Policy Information
    Insurance Travel Insurance Important policy information 24-hour medical assistance & to access cashless medical expenses +44 (0)203 362 2451 Non-medical emergency claims www.travel.co-opinsurance.co.uk/login or call +44 (0)203 362 2450 Other policy queries +44 (0)203 362 2452 coop.co.uk/travelinsurance Co-op covers BKP 0320.indd 1 28/04/2020 10:12:27 COOP/MF/PW/BKP/0321 This policy document will outline everything you need to know about your cover. Have a read and make sure you’re completely happy. If you have any questions or concerns, please don’t hesitate to call us on 0330 400 1626. Useful contact details Optional upgrades For medical screening To further enable you to tailor your policy to Either complete the online medical your specific travel requirements, we have screening step as part of the online designed the following great range of purchase of your policy; or optional upgrades. Call 0330 400 1626 • Winter sports cover See pages 3 and 4 for more information • Gadget and valuables upgrade • Natural disaster cover For emergency medical assistance • Car hire excess waiver Call +44 (0)207 748 0060 • Hazardous activities cover See pages 4 and 11 – 12 for more For full details of these cover options, information please see pages 29 – 34. To make a claim To submit your claim online, go to: www.travel.co-opinsurance.co.uk/login To start, just log in through ‘Manage your quote or policy’ or ‘Make a claim’. If your query relates to an existing claim, please call us on +44 (0)203 362 2450.
    [Show full text]