Tokio Marine Expands Climate Strategy to Cover 200 Major Emitters
Tokio Marine Holdings is strengthening its commitment to climate action by expanding its climate strategy. The company aims to offer greater support to clients pursuing carbon neutrality, according to a recent announcement.
Previously, Tokio Marine targeted engagement with 60 of the 200 largest companies within greenhouse gas (GHG)-intensive sectors, representing 60% of insurance-associated emissions. The strategy has been broadened to encompass all 200 companies, which together account for 90% of related emissions.
Tokio Marine & Nichido Fire Insurance, the largest commercial insurer within the group in Japan, will mandate that all targeted companies develop decarbonization plans by 2030. The company will not provide insurance underwriting, investment, or financing to businesses that lack these plans. Employee benefit insurance is exempt from this policy.
The revision to the climate strategy is designed to contribute to the shift towards a decarbonized society. This is planned by encouraging collaboration with business partners and investing in sustainable growth. Tokio Marine Holdings initially launched its climate strategy in September 2020, as part of its commitment to reach carbon neutrality by 2050.
