Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance
• Sustainable Development Goals (SDGs)

Environmental Achievements

• Reduced CO2 emissions to 110,416 t-CO2 in 2020 (from 127,359 t-CO2 in 2015)
• Extended ¥700.0 billion in financing for renewable energy projects and green bonds (2017-2020)

Social Achievements

• Achieved 30% female manager ratio by April 2020
• Launched the “Wellness for All Project” to improve customer health
• Launched the “Community Vitalization Project” to support local communities
• Total customer satisfaction ratings hit a record high of 62.8% in 2020

Governance Achievements

• Became a signatory to the UN Principles for Responsible Investment (PRI) in January 2019
• Established the Responsible Investment Office in April 2020
• Declared support for TCFD recommendations in January 2019

Climate Goals & Targets

Environmental Challenges

• Ultra-low interest rates in Japan
• Lower interest rates overseas
• Fallout from the COVID-19 pandemic
• Decline in sales volume of foreign currency-denominated insurance
• Rapid aging of society and reforms in public social security systems
• A decline in regional population
• Advancement of digital technologies
• Increasing sophistication of medical technologies and healthcare services
• Climate change risks

Mitigation Strategies

• Implemented measures to respond to the COVID-19 crisis (lengthened grace period for premium payments, special measures for hospitalization benefits, revised conditions for accidental death insurance claims)
• MY Mutual Way 2030, a 10-year plan to achieve financial soundness and stable management
• Special After-Sales Service Program “Always by Your Side!” to strengthen customer relationships
• Four Major Reforms in sales & services, core functions, asset management, and mutual company management
• Two Major Projects to contribute to customers’ health and community vitality
• Promoting ESG investment and responsible investment
• Formulating an investment and financing policy to restrict finance for coal-fired power generation

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: TCFD

UN Sustainable Development Goals

• 3
• 8
• 11
• 13

Meiji Yasuda Life's initiatives align with SDGs through projects focused on health, community vitality, and environmental protection.

Environmental Metrics

ESG Focus Areas

• Prolong healthy life expectancy
• Vitalize regional communities
• Protect the environment and combat climate change

Environmental Achievements

• Reduced CO2 emissions by 25.1% (Scope 1 & 2) and 11.5% (Scope 3) from 2014 levels by March 31, 2020. Target is 50% reduction by March 31, 2031 and net zero by March 31, 2051.
• Invested approximately ¥150.0 billion in green bonds and other ESG initiatives in FY2021.

Social Achievements

• Launched the “Wellness for All Project” (April 2019) and the “Community Vitalization Project” (April 2020) to improve customer health and vitalize communities.
• Achieved a record-high total customer satisfaction rating of 64.8% in FY2021.
• Increased the ratio of women in manager or higher positions to 30.1%.

Governance Achievements

• Appointed an executive officer in charge of promoting sustainability management and established a Sustainability Management Promotion Project Team.
• Revised policies for fulfilling stewardship responsibilities (September 2020) to include sustainability considerations.
• Maintained a high consolidated solvency margin ratio of 1152%.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impact on business operations and customer needs.
• Climate change physical risks (extreme weather events) and transition risks (regulatory changes, market shifts).
• Maintaining profitability in a low-interest-rate environment.

Mitigation Strategies

• Implemented Special After-Sales Service Program “Always by Your Side!” to maintain customer relationships and core functions during the pandemic.
• Developed a digital transformation (DX) strategy to improve efficiency and customer experience.
• Conducted scenario analysis to assess climate change risks and opportunities.
• Set voluntary targets for CO2 emission reductions and actively engaged with investees on climate action.

Supply Chain Management

Responsible Procurement

• Going paperless and streamlining logistics operations to reduce CO2 emissions.

Climate-Related Risks & Opportunities

Physical Risks

• Increasing frequency and magnitude of wind and flooding disasters
• Growing number of heat stroke cases

Transition Risks

• Tightening of regulations on CO2 emissions
• Deterioration in business performance of CO2 emission-intensive investees

Opportunities

• Increased opportunities for investment in and financing of businesses and projects associated with decarbonization

Reporting Standards

Frameworks Used: TCFD

UN Sustainable Development Goals

• 3 Good Health and Well-Being
• 11 Sustainable Cities and Communities
• 7 Affordable and Clean Energy
• 13 Climate Action

Initiatives such as the Wellness for All Project, Community Vitalization Project, and investments in renewable energy contribute to these goals.

Sustainable Products & Innovation

• Best Style with Health Cash Back

Environmental Metrics

ESG Focus Areas

• Prolong healthy life expectancy
• Vitalize regional communities
• Support sound development of children
• Ensure equal access to financial services
• Promote diversity, equity & inclusion (DE&I)
• Respect human rights
• Protect the environment and combat climate change

Environmental Achievements

• Reduced CO2 emissions (targets set for FY2030: -67%, FY2050: -100% compared to FY2013 levels)
• Aim to raise the ratio of renewable energy to energy used via our operations to 100% by the end of FY2040

Social Achievements

• Launched Wellness Support Activity (encouraging health and cancer checkups)
• Signed partnership agreements with more than 950 local governments
• Implemented collaborative initiatives based on partnership with the public sector
• Delivered “MY Wellness Activity Report”, provided customers with opportunities to engage in physical exercise via collaboration with J.League and the Japan Ladies Professional Golfers’ Association (JLPGA) and otherwise supported their health improvement efforts
• Improved UX and UI of websites dedicated to customer services
• Increased the sophistication of our services and enhanced operational efficiency through the use of AI
• Introduced a new product development system capable of flexibly releasing products at low cost
• In FY2023, customer satisfaction ratings (in terms of total customer satisfaction) hit all-time best for the fifth consecutive year.

Governance Achievements

• Enhanced the effectiveness of enterprise risk management (ERM)
• Further increased the sophistication of disciplined mutual company management
• Expanded the scope of initiatives that transcend business categories and involve entities across the Group
• Developed a promotion structure for sustainability management and strengthened relevant initiatives
• Upgrade our mode of corporate governance while promoting sustainability management

Climate Goals & Targets

Environmental Challenges

• Decreasing number of candidates for employment in medium-to long-term
• Compliance violations

Mitigation Strategies

• Strengthen the hiring of new graduates
• Recruit a growing number of mid-career hires
• Consider setting retirement age at 70
• Promote the utilization of human resources across the Group
• Increase employee motivation with even better wages
• Establish special allowance for value creation
• Ensure that wages more greatly reflect assigned roles and actual performance
• Improve attractiveness of sales personnel positions at Meiji Yasuda by raising and stabilizing wages
• Strive to achieve drastic improvement in the quality and productivity of the MY Link Coordinator (sales personnel) channel based on a premise that we eradicate compliance violations

Supply Chain Management

Climate-Related Risks & Opportunities