Tokio Marine : New Initiatives for Carbon Neutrality by 2050PDF

May 28, 2021

Tokio Marine Holdings, Inc.

New Initiatives for Carbon Neutrality by 2050

Tokio Marine Holdings, Inc. (President and CEO: Satoru Komiya, hereinafter referred to as "TMHD") announces its new initiatives for achieving carbon neutrality for its business activities by 2050 by reducing CO2 emission toward 2030 and by increasing the share of renewable sources in its power consumption.

1. Background

We have grown steadily by working to resolve various social issues while remaining focused on our purpose which is "protect our customers and society in their time of need", which has remained unchanged since our foundation. As the challenges that our society faces become more varied and complex, it is increasingly necessary for every company to consider just how much they can be part of the solution to these challenges and how much value they can deliver to society. We, therefore, have taken our initiatives for enhancing sustainable society as our mid- to long-term growth driver and, at the same time, as one of our key strategies for our mid-term business plan released on 28th of May.

As a part of our initiatives on enhancing sustainable society, we newly appointed Group Chief Sustainability Officer, CSUO, and established Group Sustainability Committee in April 2021. In addition, we have included "future generation" as one of our key stakeholders and have prioritized our initiatives driven by our purpose.

Based on the above, we have set our new target to further contribute to the solution to "climate change", one of the most important social problems.

2. Our New Targets

(1) Target for CO2 Emission Reduction from Business Activities

We will reduce greenhouse gases (CO2) emitted from Tokio Marine Group's business activities by 60% by FY2030.

＜Target for CO2 Emission Reduction＞ (*1)

Base Year	Target Year	Reduction
FY 2015	FY 2030	▲60%

(*1) Accompanying business activities (Scope1 + 2 + 3 (Category 1,3,5,6)) based on GHG Protocol

(2) Target for the Share of Renewable Sources in Power Consumption

We will increase the share of renewable sources in our power consumption at our key business facilities to 100% by FY2030.

＜Renewable Energy Use＞

Target Year	Renewable Energy Usage Ratio
FY 2030	100% at key business facilities

(3) Increase the Number of Electric Vehicles

TMNF will switch all company-owned vehicles owned to electric vehicles, EV, PHV, HV, etc., by FY2030.

3．Continue to Achieve Carbon Neutrality for Our Business Activities (*2)

Tokio Marine & Nichido Fire Insurance Co., Ltd. (President Shinichi Hirose, hereinafter referred to as "TMNF ") has been implementing a mangrove tree planting project in the Asia-Pacific region since 1999 with tree planting NGOs. Through these tree planting activities, Tokio Marine Group has achieved carbon neutrality for its business activities for the seventh consecutive year since 2013, and will continue to make efforts to maintain the status.

The value on ecosystem services created over the past 20 years from April 1999 to the end of March 2019 through the mangrove tree planting project has reached a cumulative total of approximately JPY 118.5 billion, and it will be approximately JPY 391.2 billion by the end of 2038 based on estimates(*3).

(*2) Accompanying business activities (Scope1 + 2 + 3 (Category 1,3,5,6)) based on GHG Protocol

(*3) The estimate was conducted by Mitsubishi Research Institute, Inc. based on internationally recognized methods.