Tokio Marine intensifies climate strategy with policy revisions

The company aims to achieve carbon neutrality by 2050.

Tokio Marine Holdings has revised its insurance underwriting, investment, and financing policies in “Tokio Marine: Our Climate Strategy” to intensify its initiatives in combatting climate change.

The revised policy requires 60 companies in greenhouse gas (GHG) intensive sectors to develop a decarbonization plan.

Companies that fail to have a plan by 2030 will no longer be provided insurance underwriting, investment, and financing services by Tokio Marine.

Sixty of these companies come from different sectors including power (coal), oil and gas, transportation, real estate, steel, cement, aluminium, and agriculture. They account for approximately 70% of GHG emissions.

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Tokio Marine’s climate strategy aims to achieve carbon neutrality by 2050 and reduce GHG emissions by encouraging its corporate customers and investees to make progress towards decarbonization.

They have implemented insurance underwriting, investment, and financing restrictions on coal-related projects, Arctic oil and gas, and oil sand mining projects since the strategy's launch in September 2020.