Tokio Marine Group operates on the principle of insurance being a force for good, providing security, safety and building resilience to contribute to the advancement of society and the people it serves. To that end, it has committed to bolstering the natural environment and curbing the impact of global warming.
As one of the largest players in the industry, the insurer's TNFD report acts as not only a measure and analysis of its own efforts, but a call for insurers and other financial institutions to reevaluate their contributions to ensuring global warming does not exceed 1.5 degrees Celsius.
While Tokio Marine's TNFD report is comprehensive, it has been designed to be accessible and visually appealing, featuring insightful graphics, tables and charts, as well as a detailed glossary and TNFD guidance table. The contents have been produced using advanced and thorough methodologies as well as detailed case studies and risk scenarios.
The group also appointed a chief sustainability officer in 2021 to accelerate the promotion of the sustainability strategy and oversee its execution.
As a global non-life insurance company, Tokio Marine & Nichido, the group's subsidiary, exercises its strength of being able to collect various accident-related information and work with partner companies to create systems designed for a circular economy.
Efforts in the circular economy include the formation of the Osaka Food Loss and Waste Consortium to collect data on food loss and develop insurance policies to compensate for the costs of food recycling; and promoting recovery and reuse of automotive parts through the launch of collaborative efforts to promote the recycling of end-of-life vehicles.
Finally, since 1999, Tokio Marine has conducted a mangrove planting project, primarily in Southeast Asia. By capturing large volumes of CO2, mangroves can play an important role in mitigating global warming.
"I am proud of the work which Tokio Marine is doing to facilitate the green transformation," says Mika Nabeshima, group chief sustainability officer at Tokio Marine Holdings. "One of our group companies, GCube specialises in writing renewable energy operators and supports more than 2,000 projects in 38 countries. The transition towards renewable energy will not be achieved by one company alone, however – it requires a joint effort across a range of different industries."
