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First Japanese insurance company adopts coal exit policy

Written by Adam Cadle
28/06/2021

MS&AD has adopted a policy to no longer insure or invest in new coal power plants, becoming the first Japanese insurer to make this move.

Yuki Tanabe, program director at the Japan Center for a Sustainable Environment and Society (JACSES), said: “We welcome MS&AD’s announcement to completely end insurance underwriting for new coal-fired power generation projects, and urge other Japanese non-life insurers, such as Tokio Marine and Sompo, to establish similar policies immediately.”

Peter Bosshard, global coordinator of the Insure Our Future campaign, added that MS&AD’s move "shows that the coal exit train has now reached the Asian insurance industry and that the coal projects which are still in the pipeline have no future".

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