Tokio Marine joins NZIA

Written by Adam Cadle

19/01/2022

Tokio Marine Holdings is joining the Net-Zero Insurance Alliance (NZIA), as the first Japanese member.

The insurance company is committed to supporting the just transition towards the global goal of achieving net-zero greenhouse gas (GHG) emissions and is promoting measures to combat climate change through both mitigation and adaptation.

Specifically, it has been developing insurance products and services that help achieve the goals of the United Nations Sustainable Development Goals (SDGs) and the Paris Agreement, and has achieved carbon neutrality in the Group's business activities for eight consecutive years through mangrove planting projects and the use of renewable energy. The Group has also led the discussions on climate change through its participation in international initiatives such as the Geneva Association and ClimateWise.

The NZIA is an international initiative to promote the transition of insurance underwriting portfolios towards materializing a net zero GHG emissions society by 2050. The insurance industry is already taking a number of steps towards achieving a decarbonised society, and Tokio Marine believes it is essential to continue supporting the promotion of renewable energy and the development of decarbonisation technologies through its insurance underwriting and engagement with customers.

By joining the NZIA, Tokio Marine also becomes a member of the Glasgow Financial Alliance for Net Zero (GFANZ), which was established in April 2021 as a forum to promote the transition of financial institutions to net zero. The NZIA is a member of GFANZ and any insurer that joins the NZIA will also become a member of GFANZ.

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