Tokio Marine Group is supporting the transition towards achieving net-zero greenhouse gas (GHG) emissions and is promoting measures to combat climate change through both mitigation and adaptation.
The group has been launching new insurance products and services that help achieve the goals of the United Nations Sustainable Development Goals (SDGs) and the Paris Agreement, and has achieved carbon neutrality within its business activities for the last eight years.
The group has also led the discussions on climate change through its participation in international initiatives such as the Geneva Association and ClimateWise.
On this note its subsidiary, Tokio Marine & Nichido Fire Insurance (TMNF), has joined the Partnership for Carbon Accounting Financials (PCAF), an international initiative to develop methods for measuring and disclosing GHG emissions of financial investments (Financed Emissions).
TMNF will also join the PCAF Japan coalition, which is leading the discussions in this area in Japan. Through this participation, Tokio Marine will enhance its capabilities in measuring and analysing GHG emissions.
In addition, a joint working group has been established with the Net-ZeroInsurance Alliance (NZIA) in September 2021 to develop a methodology for measuring GHG emissions from insurance underwriting portfolios.
Through the synergy of TMHD’s activities at NZIA and that of TMNF at PCAF, Tokio Marine Group will make further efforts to tackle climate change, together with its customers and society.
The NZIA is an international initiative to promote the transition of insurance underwriting portfolios towards materialising a net zero GHG emissions society by 2050.
By joining this initiative, Tokio Marine will become a member of the Glasgow Financial Alliance for Net Zero (GFANZ), which was established in April 2021 as a forum to promote the transition of financial institutions to net zero.