MS&AD Insurance Group Holdings, Inc. (President and CEO: Noriyuki Hara, “the Company”) announced the Group's responsible activities that consider sustainability in underwriting and investments as "Business Activities With Consideration for Sustainability " (Attachment) and released on its official website.
As a global insurance and financial services group that enables safety and peace of mind, we address specific directions in the three areas of "climate change", "natural capital" and "human rights" which require particularly urgent action. Through business activities in accordance with these directions, we intend to contribute to the achievement of "Paris Agreement" which is an international framework for climate change countermeasures and the SDGs which aims to realize a sustainable society.
Since fiscal 2018, our group has been promoting the CSV (Creating Shared Value) with the aim of realizing a "resilient and sustainable society" as stipulated in the Medium-Term Management Plan "Vision 2021". We will continue to engage in dialogue with our stakeholders and contribute to the creation of society where everyone can pursue a stable life and take on dynamic business activities while preserving the sustainability of the global environment and society.
Since its announcement in May 2019 that all business activities should take sustainability into consideration, the Group has been reviewing specific measures for insurance underwriting and investments.
In the "Business Activities with Consideration for Sustainability", we have set policies on underwriting and investments that take sustainability into consideration, as well as specific measures for underwriting and investments related to the 3 priority issues ("climate change", "natural capital" and "human rights").
1. Policies on underwriting and investments with consideration for sustainability
－Our underwriting considers issues and risks that would have a negative impact on society and the
global environment. In addition, we provide products and services that respond to the demands
of society.
－Our investments consider ESG factors in pursuit of long-term returns and contribution to solutions
for sustainability issues.
2. Specific measures for underwriting and investments
<Responding to climate change>
- The increasing frequency and severity of natural disasters caused by "climate change" are rising risks across the entire planet.
- Our Group contributes to climate change mitigation and adaptation. We will support the efforts to mitigate climate change through our business and contribute to realization of a decarbonized society.
- In principle, we will not provide insurance for, nor make investments in new coal-fired power plants.
<Improving sustainability of natural capital>
- "Natural capital" is a concept that considers the various blessings brought by nature from the resources such as plants, animals, water, soil, and minerals to the benefits such as water purification and climate adjustment, as one of the capitals that support our society and economy.
- With the aim of building a sustainable system between natural capital and business activities, our Group will take initiatives to conserve biodiversity and improve sustainability of natural capital.
<Respecting human rights>
- "Respect for Human Rights" provides a foundation for a safe society where everyone can enjoy peaceful lives.
- Our Group will conduct business activities with respect for human rights based on the "MS&AD Insurance Group Basic Policy on Human Rights".
- We will not underwrite risks related to, nor make investments in manufacturers of cluster munitions that may cause indiscriminate mass killing.
3. Dialogue with stakeholders
With regard to underwriting and investments with the consideration for sustainability, we will deepen
our understanding of sustainability issues through the dialogue with stakeholders and contribute to their
resolution. In addition, in September 2020, we revised our policy for responding to the Stewardship Code
in investment, and will further promote the dialogue on sustainability issues.
The group-wide strategies for sustainability are discussed at the Group's Board of Directors and quarterly meetings of the "Sustainability Committee" which comprises presidents of the Company and its domestic insurance subsidiaries, directors in charge of corporate planning and risk management and outside directors of the Company, etc. Details of discussions are reported to the Board of Directors and the Management Committee. The content of these activities will be discussed at the Board of Directors and other meetings and reviewed in a timely manner.
［Attachment］Our Sustainability Approach
The MS&AD Insurance Group has set Mission, Vision, and Values in order to clarify how the Group should be. Furthermore, we have accelerated initiatives based on our sustainability approach to achieve our Mission.
Our Mission
To contribute to the development of a vibrant society and help secure a sound future for the planet, by enabling safety and peace of mind through the global insurance and financial services business
Our Vision
To create a world-leading insurance and financial services group that consistently pursues sustainable growth and enhances corporate value
Our Values
Customer focus, integrity, teamwork, innovation, professionalism
Perspective of Sustainability of the MS&AD Insurance Group
The MS&AD Insurance Group will create shared value and aim toward a resilient and sustainable society through corporate activities that implement the "Story of Value Creation," in order to realize our Corporate Philosophy (Mission).
We will consistently strive for supreme quality that lives up to the trust and expectations upon us, and together with our stakeholders, continue to contribute to the creation of a society where everyone can pursue a stable life and take on dynamic business activities, while preserving the sustainability of the global environment and society.
(Basic Policies on Corporate Governance, Chapter 2 Section 2)
Business Activities with Consideration for Sustainability
The MS&AD Insurance Group, as an insurance and financial services group which provides safety and peace of mind, conducts business activities with consideration for sustainability.
We aim to enhance corporate value by contributing to solutions for sustainability issues with profound understanding through stakeholder engagement.
－Our underwriting considers issues and risks that would have a negative impact on society and
the global environment. In addition, we provide products and services that respond
to the demand of society.
－Our investments consider ESG factors in pursuit of long-term returns and contribution to solutions
for sustainability issues.
”Responding to Climate Change”, “Improving Sustainability of Natural Capital“ and “Respecting Human Rights” that require urgent actions are the Group’s priorities.
◆ Responding to Climate Change
- We contribute to climate change mitigation and adaptation as climate change may bring material impacts on our lives and ecosystems and pose substantial risks to the insurance industry.
- We contribute to realization of a decarbonized society through our business that supports initiatives for reduction of CO2 emissions and climate change mitigation such as enhancement of the stable and sufficient supply and usage of renewable energy, development and usage of advanced technology that lead to reduction of CO2 emissions, and research and development toward practical applications of CO2 capture, utilization, and storage (CCUS) technologies.
- In principle, we will not provide insurance for, nor make investments in new coal-fired power plants. However, we may do so after prudent consideration for cases where such plants are essential for the stable supply of energy to the country concerned.
- With long-term goals in place, we will reduce CO2 emissions from our operations.
< Group's CO2 Emissions Reduction Long-Term Target>
70% reduction in 2050 from the base year 2009
- We will continue to disclose our climate change-related initiatives, in line with the TCFD framework.
◆ Improving Sustainability of Natural Capital
- Natural capital is the foundation that supports our society and economy. As its conservation and sustainable use is essential to the economic development and prosperity of society, we take initiatives to conserve biodiversity and improve sustainability of natural capital.
◆ Respecting Human Rights
- As respecting human rights is the foundation of a safe society where everyone can enjoy a peaceful life, we conduct our business activities with respect for human rights.
- We will not provide insurance for, nor make investments in manufacturers of cluster munitions that may cause indiscriminate mass killing.
The Board of Directors and the Sustainability Committee hold discussions on the policies, plans, and the progress initiatives for the aforementioned Business Activities with Consideration for Sustainability. We keep the highly transparent disclosure and engage in dialogue with stakeholders. Revision and/or modification may be applied when necessary.
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MS&AD Insurance Group participates in the following initiatives.
〔Principles for Sustainable Insurance (PSI), Natural Capital Finance Alliance (NCFA)〕
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