Tokio Marine abandons thermal coal mining

Key changes in the group's policies will exclude thermal coal mining in the future.

Tokio Marine Holdings, Inc. has abandoned thermal coal mining as they announced key changes to the group’s insurance underwriting and investment and lending policies.

The insurance group said that it has added thermal coal mining as a restricted transaction.

Under its previous insurance underwriting policies, Tokio Marine initially banned insurance for coal-fired power generations. The new policies, it has extended this ban to thermal mining projects.

However, the group may grant exceptions for projects with innovative technologies and approaches, such as CCS/CCUS and mixed combustion, with the aim of achieving the goals of the Paris Agreement, based on careful consideration.

“Climate change is a global social issue that poses a threat to the safety and security of our customers and local communities. At the same time, it also has a direct impact on the insurance industry, making it an important issue for our group to address globally,” Tokio Marine said.