Environmental Initiatives

The Task Force on Climate-related Financial Disclosures (TCFD) had been entrusted by the Financial Stability Board (FSB) to formulate voluntary recommendations for consistent, comparable, reliable, clear and efficient climate-related disclosures by companies in the financial sector and released its final recommendations (TCFD recommendations) in June 2017.

Toward achieving carbon neutrality in 2050, we aim to reduce the environmental footprint from our business activities wherever possible, and have positioned initiatives for reducing the environmental footprint as a key issue for the Group. The entire Tokio Marine Group, in Japan and overseas, is making efforts to become carbon neutral under the strategic concepts of "Reduce", "Switch", and "Offset".

Renewable energy such as offshore wind power and solar power is expected to be a new power source for the transition to a decarbonized society. As such, installation and widespread construction of facilities are promoted in various countries. We acquired GCube, a leading player in providing insurance underwriting services for renewable energy projects around the world, to support the spread of renewable energy around the world.

Tokio Marine & Nichido has developed a system to support information disclosure based on the TCFD recommendations, specifically assisting TCFD scenario analysis that causes significant work burdens on companies. By providing the system to a wide range of customers and continuously enhancing its functionality based on customer feedback, Tokio Marine & Nichido supports the GX strategies of various companies striving to disclose climate-related financial information for achieving decarbonization and carbon neutrality.

Since 1999, Tokio Marine & Nichido has been conducting its Mangrove Planting Project primarily in Southeast Asia. During the 25-year period to fiscal 2023, we planted a total of 12,597 hectares of new forest in nine countries: Indonesia, Thailand, the Philippines, Vietnam, Myanmar, Fiji, India, Bangladesh, and Malaysia.

In October 2022, Tokio Marine & Nichido launched activities to protect and restore eelgrass beds. Eelgrass is expected to generate a positive effect of absorbing and fixating CO2 from the atmosphere, as it absorbs CO2 through photosynthesis and sinks to the sea floor when it dies, becoming part of the sediment and retaining carbon for a long time in deep waters. Eelgrass beds also serve as sites for fish to lay eggs and for young fish to grow and are expected to have additional effects, such as the purification of water and the protection of biodiversity.