Nippon Life Insurance

Nippon Life Insurance's reported carbon emissions

Nippon Life Insurance, a company in the insurance and pension funding services sector (excluding compulsory social security), based in JP, has reported significant progress in reducing its carbon emissions. For the fiscal year 2023, Nippon Life Insurance reported total greenhouse gas emissions of approximately 163,842,000 kg CO2e. This figure comprises Scope 1 emissions of about 31,867,000 kg CO2e, Scope 2 emissions of approximately 49,492,000 kg CO2e, and Scope 3 emissions totalling around 82,483,000 kg CO2e. Scope 3 emissions were detailed further, with business travel accounting for roughly 8,367,000 kg CO2e, employee commute at approximately 14,642,000 kg CO2e, upstream leased assets at about 32,000 kg CO2e, purchased goods and services at approximately 12,893,000 kg CO2e, waste generated in operations at around 857,000 kg CO2e, fuel and energy-related activities at approximately 12,781,000 kg CO2e, upstream transportation and distribution at about 15,163,000 kg CO2e, and downstream transportation and distribution at approximately 719,000 kg CO2e. Looking at previous years, total emissions were approximately 175,099,000 kg CO2e in 2022, 190,976,000 kg CO2e in 2021, 199,122,000 kg CO2e in 2020, 228,008,000 kg CO2e in 2019, and 253,229,000 kg CO2e in 2013. Nippon Life Insurance has established ambitious climate commitments. The company aims for net-zero greenhouse gas emissions by FY2050, covering Scope 1 and Scope 2 emissions. Furthermore, they have a near-term target to reduce Scope 1 emissions by 51% or more by FY2030, using FY2013 as the base year. Similarly, Scope 2 emissions are targeted for a reduction of 51% or more by FY2030, also based on FY2013. For Scope 3 emissions, the company is working towards an intensity reduction of 49% or more by FY2030, compared to FY2020. Additional targets include a 50% decrease in Scope 1 emissions by 2030 (compared to 2013) and a 20% decrease in Scope 2 emissions by 2030 (compared to 2013), with both scopes targeting net-zero by 2050. The company has also committed to a 45% or more decrease in total emissions by FY2030 (compared to FY2010) and an intensity reduction of 49% or more (compared to FY2020), both aiming for net-zero by FY2050.