Sustainability

Governance

The climate-related governance structure of the Group consists of the Board of Directors, the SDGs/ESG Committee, and the ERM Committee.

• The Board of Directors discusses and establishes our Group-wide policy related to sustainability encompassing its initiatives for addressing climate change and various plans related primarily to the promotion of climate change countermeasures, and also monitors the status of such initiatives.
• The SDGs/ESG Committee is chaired by the Executive Officer in charge of the Communication & Coordination Department, which is the sustainability promotion department, and consists of the General Managers of related departments. The matters discussed by the Committee and the progress of sustainability measures are received periodically and resolved by the Board of Directors as appropriate. In fiscal 2023, measures in the new medium-term management plan and initiatives to reduce the Group's CO2 emissions were discussed at the Committee.
• The ERM Committee is chaired by an Executive Officer appointed by the Executive Officer in charge of the Management Planning Department after the discussions at the Executive Management Committee established to discuss important matters concerning overall management, and consists of the General Managers of related departments. It discusses various matters related to enterprise risk management (ERM) for the Group. Material matters concerning risk management, including climate change, are reported to the Board of Directors periodically.

Strategies

The Group recognizes the following climate-related risks and opportunities.

The Group takes appropriate measures to address each of the above climate-related risks and opportunities based on the degree of impact entailed by each individual risks and opportunities. In particular, we recognize that the impact of natural catastrophe, a physical risk related to non-life reinsurance, is a significant threat from the perspective of business continuity in the Group, as mentioned above. Therefore, we are taking the following measures towards the realization of a decarbonized society.

Risk management

The Group conducts ERM, which includes the management of climate-related risks, using both qualitative and quantitative approaches.
For qualitative management, we regularly identify and evaluate risks in order to accurately define the risk profile and material risks of the entire Group, which are then listed in a risk register together with countermeasures.
In terms of quantitative management, natural catastrophe risks such as typhoons, which are greatly affected by climate change, are managed by measuring the amount of risk at the level of once every 250 years, and setting a limit for such risks from the standpoint of ensuring our financial soundness.
In addition, we evaluate business continuity in the extreme events such as unprecedented large typhoons or large-scale floods through conducting stress tests.

Metrics and targets

The Group has set medium- to long-term targets of achieving a 50% reduction in CO2 emissions in fiscal 2030 relative to those of fiscal 2019*, and carbon neutrality by fiscal 2050*. In addition, as metrics for achieving the targets, we have set renewable electricity use at 70% or more in fiscal 2030 and 100% in fiscal 2050 at our group's all facilities. To reach these targets, we are promoting various initiatives to reduce CO2 emissions, including using renewable electricity at group facilities.

For each of the initiatives in promoting the transition toward a decarbonized society in the reinsurance business and in asset management, we have set specific targets and have been promoting activities to achieve them.

* Based on measurement in accordance with GHG protocols.

(1) CO2 emissions

(2) Renewable electricity usage

(3) Environmental load data

◎ Coverage

◎ CO2 emissions

◎ Environmental load data

Offering Sustainable Seafood Lunches

Sustainable seafood refers to seafood products that are caught through sustainable fishing that accord consideration to resource management as well as environmental and social impacts, and is called MSCcertified seafood products. Our cafeteria acquired the Chain of Custody (CoC) certificate from the Marine Stewardship Council (MSC) for a management system for lunch menus prepared using MSC-certified seafood products, and periodically offers sustainable seafood lunches.

Book Donations

Wishing to inspire children to take an informed interest in environmental issues, Toa Re donates books on environmental themes to the eight public elementary schools in Chiyoda-ku every year on Earth Day (April 22).

Lectures on Environmental Issues

To contribute to protection of the global environment, Toa Re and the General Insurance Institute of Japan have been jointly holding a series of lectures on environmental issues.
In fiscal year 2024, Professor Yumiko Nara, Living and Welfare Course of the Faculty of Liberal Arts at The Open University of Japan (OUJ), was invited as a lecturer to an event held on October 23, 2024 under the theme of “The Fundamentals and Practice of Risk Communication—7 Misunderstandings and their Correct Answers” via a Zoom live stream.

Promotion of Power Saving

Toa Re is working to reduce power consumption by implementing power saving promotion measures such as controlling the temperature of air-conditioning systems installed in offices, setting no overtime days, and using heat storage with midnight power. In fiscal 2023, we reduced power consumption by 2.8% compared to the previous year.

Switching to Electricity Derived from Renewable Energy

From March 2022, we switched to essentially CO2-free electricity for use at our head office building, utilizing environmental value derived from renewable energy sources that do not emit CO2.

Donation through the Collection of PET Bottle Caps

As an initiative realized through the ideas of employees, Toa Re is supporting a system to make donations for medical assistance for developing countries through the collection of PET bottle caps. In fiscal 2023, we collected approximately 54,000 caps.