LIFENET Life Insurance Company
Climate Impact & Sustainability Data (2023, 2023-04 to 2023-06)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Not disclosed
Environmental Achievements
- Not disclosed
Social Achievements
- Not disclosed
Governance Achievements
- Not disclosed
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Achieve Comprehensive Equity of ¥200-240bn in FY2028
- Annual growth rate of CE per share: approx. 10% in fiscal 2028
- Transit to the TSE Prime Market by around 2025
Short-term Goals:
- Not disclosed
Environmental Challenges
- Competition in the life insurance industry
- Investment in insurance acquisition cash flows
- Change in mortality and morbidity
- Change in interest rates
- System failures
Mitigation Strategies
- Designing and developing products and services from the customer's perspective
- Regularly monitoring and analyzing the balance between new business growth and insurance acquisition cash flow efficiency
- Designing appropriate coverage and underwriting methods
- Regularly monitoring mortality and morbidity rates
- Conducting stress tests
- Setting risk limits for market risk
- Reviewing asset investment policies
- Establishing basic policy and measures for the stable operation of information systems
- Developing information systems, monitoring their operational status, maintaining backup systems, and taking measures in the event of failures
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Climate change
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: IFRS
Certifications: Null
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- J.D. Power 2024 Japan Life Insurance Contract Customer Satisfaction Study (Direct Segment) - 1st for 4th consecutive year
Reporting Period: 2023-04 to 2023-06
Environmental Metrics
ESG Focus Areas
- Sustainability
- Human Resources Development
- Internal Environmental Improvement
- Corporate Governance
Environmental Achievements
- Disclosed greenhouse gas emissions (GHG emissions) for Scope 1 and Scope 2
Social Achievements
- Started offering GCL to mortgage loan borrowers of au Jibun Bank from July 1st.
- Plan to offer our products through financial app Habitto in autumn 2023
- Disclosed the performance in fiscal 2022 for “customer-oriented business conduct principles”
Governance Achievements
- Adopted non-financial indicators to performance-linked compensation to Directors
- Added “Sustainability” as one of the items of skill matrix of Directors
Climate Goals & Targets
Medium-term Goals:
- Aim to achieve EEV (European Embedded Value) of 200 billion yen by business growth
- Continue 10% profit growth and aim for TSE Prime Market in around FY2025
Short-term Goals:
- Steady growth as a new earnings base with looking to expand partner banks in a mid-term (GCL)
Environmental Challenges
- Decrease of customer’s demand for insurance (individual life)
Mitigation Strategies
- Aim for steady growth as a new earnings base with looking to expand partner banks in a mid-term (GCL)
- Accelerate growth of core Internet direct channel and expand Partner business channel