Nippon Life Insurance Company
Climate Impact & Sustainability Data (2021)
Reporting Period: 2021
Environmental Metrics
Total Carbon Emissions:190,976 t-CO2 (Group)
Scope 1 Emissions:34,476 t-CO2 (Group)
Scope 2 Emissions:71,694 t-CO2 (Group)
Scope 3 Emissions:84,806 t-CO2 (Group)
Water Consumption:616,018 m3
Waste Generated:6,434 tons
ESG Focus Areas
- Customer satisfaction
- Social issues
- Universal services
- Regional insurance services
- Sustainable society through asset management
- Community development
- Diverse human resources
- Diversity and inclusion
- Work style reforms and health
- Long-term business operation
- Economic value distribution
- Corporate governance
- CSR integration
- Stakeholder engagement
- Compliance
- Human rights
- Risk management
- Climate change
Environmental Achievements
- Reduced CO2 emissions by 24% compared to FY2013 (Group)
- Achieved a 32% reduction in total greenhouse gas emissions in the investment portfolio compared to FY2010
- Set FY2030 interim targets for greenhouse gas emissions in the investment portfolio (Total emissions: -45% or more compared to FY2010, Intensity: -49% or more compared to FY2020)
- Set FY2030 reduction target for portfolio – Total emissions: Reduced by 45% or more (versus FY2010) – Intensity: Reduced by 49% or more (versus FY2020)
- Increased and expanded CO2 emission reduction target in business activities – 2030 Target: 51% or more – Change from a nonconsolidated basis to a Group one
- Zero plastic clear document folders target set for newly purchased folders at the beginning of FY2024
Social Achievements
- Launched Nissay Penguin Project to support childcare and women's advancement
- Expanded Childcare Concierge service
- Concluded comprehensive partnerships agreements with 41 prefectures
- 100% participation rate of all executives and employees in social contribution activities (ACTION CSR-V) for seven consecutive years
- Launched Skill-Up Challenge Program
- Implemented mandatory seminar for Iku-bosses
- 100% adoption of Male Childcare Leave and More for ninth consecutive year
Governance Achievements
- Updated Customer-Oriented Operational Management Policy
- Revised Sustainability Committee structure
- Established Domestic Group Insurance Committee
- Established Global Business Investment and Management Guideline
- Implemented PDCA cycles on important sustainability priorities
- Transitioned to a Company with an Auditing and Supervisory Committee
- Established Nomination and Remuneration Advisory Committee
Climate Goals & Targets
Long-term Goals:
- Achieve net-zero GHG emissions in business activities by FY2050
Medium-term Goals:
- Achieve net-zero GHG emissions in investment portfolio by FY2050
- Increase the ratio of women in positions equivalent to department manager to 10% at the beginning of FY2030
Short-term Goals:
- Reduce CO2 emissions by 51% or more by FY2030 (Group)
Environmental Challenges
- Climate change risks (physical and transition)
- Supply chain disruptions
- Childcare challenges
- Aging population
- Maintaining high customer satisfaction
- Reducing plastic use
- Maintaining financial soundness in a low-interest-rate environment
Mitigation Strategies
- Scenario analysis for climate change risks
- ESG investment and finance
- Collaboration with local governments and Nichii Gakkan
- Customer-oriented business operations
- Nissay Plastics Smart Campaign
- Equity accumulation and diversification of funding sources
- ERM implementation
Supply Chain Management
Responsible Procurement
- Green procurement
- Confirmation of human rights respect in business partners
Climate-Related Risks & Opportunities
Physical Risks
- Increased frequency and severity of extreme weather events
- Impacts on human health due to rising temperatures
Transition Risks
- Stronger regulation of CO2 emissions
- Changes in consumer preferences
- Market shifts
Opportunities
- Increased demand for life insurance due to health impacts of climate change
- Development of energy-efficient products and services
Reporting Standards
Frameworks Used: GRI Sustainability Reporting Standards 2016, UN Global Compact
Sustainable Products & Innovation
- Mirai no Katachi insurance products
- Three Major Diseases 3 Jumaru insurance
Awards & Recognition
- Nikkei SDGs Management Survey 2021
- Toyo Keizai CSR Ranking 2022
- Sustainable Japan Award 2022
- Information Technology Award 2021
- DX Certification 2022
- Japan Child Care Advocate Grand Prize 2021
- 15th Kids Design Award 2021
- 13th Parenting Award 2020
- IT Japan Award 2020
- R&I Fund Award 2020
- 32nd Naming Award 2021
- Mamari Word of Mouth Award 2022
- Mamari Word of Mouth Award 2021
- Best Customer Support of the Year 2021
- HDI-Japan Five-Star Rating
- Children’s Welfare Culture Award 2020
- MECENAT 2022 Certifications
- Hitosuzumi Award 2020
- Forests × Decarbonization Challenge 2022
- Minister of Agriculture, Forestry and Fisheries Award 2020
- PRI Annual Assessment Report 2021
- 7th Sustainable Finance Awards 2021
- 2nd ESG Finance Award 2020
- LEED-CI Gold Certification 2021
- WELL Health-Safety Rating 2020
- BELS Certification 2020
- Platinum Kurumin Certifications 2021
- 8th Good Action Award 2021
- Nikkei DUAL 2020 Ranking
- Nikkei Womenomics Project 2021
- Nikkei Womenomics Project 2020
- PRIDE Index 2021
- PRIDE Index 2020
- Osaka City Respect for Diverse Sexualities Grand Prize 2020
- White 500, 2022 Certified Health & Productivity Management Outstanding Organization Recognition Program
- White 500, 2021 Certified Health & Productivity Management Outstanding Organization Recognition Program
- Three Stars “Meal Service Category” 2020