Japan Post Insurance Co., Ltd.
Climate Impact & Sustainability Data (2024)
Reporting Period: 2024
Environmental Metrics
Total Carbon Emissions:21,286 tCO2e/year (FY2023)
Scope 3 Emissions:Approx. 895 (10,000 tCO2e) (FY2023)
ESG Focus Areas
- Provision of insurance products and services
- Health promotion and well-being
- Diversity and human rights
- Environmental conservation
- Corporate governance and human capital management
Environmental Achievements
- Reduced Scope 1 and Scope 2 emissions by 33.9% compared to FY2020/3 (FY2023/3 results).
- Transitioned electricity used in large facilities to renewable energy.
Social Achievements
- Launched the Kampo GD System for comprehensive employee evaluation.
- Achieved 100% rate of childcare leave for both male and female employees.
- Selected for “Next Nadeshiko: Companies Supporting Dual-career and Co-parenting.”
- Launched the Sukoyakanpo health support app.
- Supported wheelchair tennis and boccia.
Governance Achievements
- Revised Medium-Term Management Plan (FY2021-FY2025).
- Established three committees: Nomination, Audit, and Compensation.
- Improved Board of Directors effectiveness.
- Revised Compensation Policies for Directors and Executive Officers.
Climate Goals & Targets
Long-term Goals:
- Achieve carbon neutrality by 2050.
Medium-term Goals:
- Ratio of female managers at the head office: 30% by FY2031/3.
- Greenhouse gas emissions (Scope 1, 2): 46% reduction (compared to FY2020/3) by FY2031/3.
- Adjusted profit: ¥97.0 billion by FY2025.
- Adjusted ROE: Approx. 6% by FY2025.
- EV growth (RoEV): Target growth of 6% to 8% by FY2025.
Short-term Goals:
- Number of policies in force (individual insurance): More than 18.5 million policies by FY2025.
- Customer satisfaction: 90% or more by FY2025.
- NPS®: One of the highest in the industry by FY2025.
- “Radio-Taiso” performance rate: 25% by FY2025.
- Impact “K” Project Certified Funds: 15 funds worth ¥50 billion in cumulative total by FY2025.
Environmental Challenges
- Decline in the number of policies in force.
- Need to strengthen sales force.
- Maintaining and expanding customer base.
- Climate change risks (physical and transition).
- Biodiversity risks.
Mitigation Strategies
- Reformed sales system (April 2022).
- Introduced Kampo GD System.
- Launched new products (lump-sum payment whole life insurance).
- Resumed proposals to elderly customers.
- Active recruitment and development of sales personnel.
- Enhanced after-sales follow-up services.
- Promoting DX to improve CX.
- Strategic partnerships and alliances (KKR, Global Atlantic, Mitsui & Co., Daiwa Securities Group).
- Implementing stewardship activities.
- Promoting sustainable investments (Impact “K” Project).
Supply Chain Management
Responsible Procurement
- Japan Post Group CSR Procurement Guidelines
Climate-Related Risks & Opportunities
Physical Risks
- Rise in insurance claim payments due to natural disasters.
- Rise in claim payments due to changes in mortality and morbidity rates.
Transition Risks
- Impaired value of portfolio assets due to changes in regulations and consumer preferences.
Opportunities
- Expanding green finance market and investment opportunities.
Reporting Standards
Frameworks Used: International Integrated Reporting Framework (IIRC), TCFD, TNFD
Sustainable Products & Innovation
- Lump-sum payment whole life insurance
Awards & Recognition
- Next Nadeshiko: Companies Supporting Dual-career and Co-parenting
- PRIDE INDEX gold certification