Nippon Life Insurance

Nippon Life Insurance, headquartered in Japan, reported total carbon emissions of approximately 163,842,000 kg CO2e in 2023. This includes Scope 1 emissions of 31,867,000 kg CO2e, Scope 2 emissions of 49,492,000 kg CO2e, and Scope 3 emissions of 82,483,000 kg CO2e. Key categories within Scope 3 emissions for 2023 included business travel (8,367,000 kg CO2e), employee commute (14,642,000 kg CO2e), and upstream transportation and distribution (15,163,000 kg CO2e).

The company has set several climate commitments, aiming for net-zero total emissions by FY2050. Near-term targets include an absolute reduction target for Scope 1 emissions of 51% or more by fiscal year 2030, compared to a fiscal year 2013 baseline. A similar absolute reduction target of 51% or more for Scope 2 emissions by fiscal year 2030, also against a fiscal year 2013 baseline, has been established. For Scope 3 emissions, Nippon Life Insurance aims for an intensity reduction of 49% or more by 2030, compared to a fiscal year 2020 baseline. Long-term, the company is committed to achieving net-zero Scope 1 and Scope 2 GHG emissions by FY2050.