Sompo Holdings

Sompo Holdings, based in Japan, operates in the insurance and pension funding services sector. The company has set ambitious climate targets, including achieving net-zero greenhouse gas (GHG) emissions by 2050, covering Scope 1, 2, and 3 emissions, particularly noting that investments and insurance underwriting are included in this goal.

For its own operations, Sompo Holdings aims for significant reductions:

• A 60% reduction in Scope 1, 2, and 3 emissions by 2030, compared to 2017 levels. This target excludes insurance underwriting, investments, and loans.
• More specifically, Scope 1 emissions are targeted for a 60% reduction by 2030 (vs. 2017 levels).
• Scope 2 emissions are also targeted for a 60% reduction by 2030 (vs. 2017 levels).
• Additionally, there's a near-term target to reduce Scope 2 emissions by 25% by 2030 from 2020 levels.
• Scope 1 emissions also have a near-term reduction target of 30% by 2030 from 2020 levels.

Recent emissions data indicates the following:

• In 2024, Sompo Holdings reported total emissions of approximately 1.95 billion kg CO2e. This figure is comprised of approximately 39.3 million kg CO2e for Scope 1 emissions and about 128.1 million kg CO2e for Scope 2 emissions (market-based). Scope 3 emissions accounted for various categories, including approximately 161.8 million kg CO2e for capital goods, 22.9 million kg CO2e for business travel, and 18.8 million kg CO2e for employee commute.
• In 2023, total emissions were approximately 306.9 million kg CO2e. This included around 39.3 million kg CO2e for Scope 1 emissions and approximately 116.6 million kg CO2e for Scope 2 emissions (market-based). A significant portion of Scope 3 emissions was attributed to investments, totalling approximately 1.73 billion kg CO2e. Other reported Scope 3 categories included capital goods at 19.9 million kg CO2e, business travel at 22.9 million kg CO2e, and employee commute at 18.8 million kg CO2e.
• In 2022, total emissions were approximately 308.7 million kg CO2e, with Scope 1 at about 35.4 million kg CO2e and Scope 2 at approximately 134.3 million kg CO2e. Scope 3 emissions were around 139.0 million kg CO2e.
• In 2021, total emissions were approximately 309.2 million kg CO2e, with Scope 1 at about 33.8 million kg CO2e and Scope 2 at around 143.0 million kg CO2e. Scope 3 emissions were approximately 132.5 million kg CO2e.
• In 2020, total emissions amounted to approximately 345.2 million kg CO2e, including Scope 1 at 37.8 million kg CO2e and Scope 2 at approximately 165.8 million kg CO2e. Scope 3 emissions were about 141.6 million kg CO2e.
• In 2019, total emissions were approximately 384.5 million kg CO2e, with Scope 1 at about 42.3 million kg CO2e and Scope 2 at approximately 178.3 million kg CO2e. Scope 3 emissions were around 163.9 million kg CO2e.
• In 2018, emissions data shows Scope 1 at approximately 43.8 million kg CO2e and Scope 2 (market-based) at about 196.2 million kg CO2e. Scope 3 emissions included capital goods at roughly 129.1 million kg CO2e.
• In 2017, total emissions were approximately 412.8 million kg CO2e, with Scope 1 at about 43.8 million kg CO2e and Scope 2 at approximately 196.2 million kg CO2e. Scope 3 emissions included capital goods at approximately 129.1 million kg CO2e.
• In 2016, total emissions were approximately 147.4 million kg CO2e, with Scope 1 at 17.9 million kg CO2e and Scope 2 at 71.6 million kg CO2e. Scope 3 emissions were about 57.9 million kg CO2e.
• In 2015, total emissions were approximately 151.7 million kg CO2e, including Scope 1 at 18.6 million kg CO2e and Scope 2 at 76.6 million kg CO2e. Scope 3 emissions were around 56.5 million kg CO2e.
• In 2014, total emissions were approximately 155.1 million kg CO2e, with Scope 1 at 14.7 million kg CO2e and Scope 2 at 77.2 million kg CO2e. Scope 3 emissions were about 63.2 million kg CO2e.
• In 2013, total emissions were approximately 150.9 million kg CO2e, including Scope 1 at 21.6 million kg CO2e and Scope 2 at 70.1 million kg CO2e. Scope 3 emissions were around 59.1 million kg CO2e.
• In 2012, total emissions were approximately 136.7 million kg CO2e, with Scope 1 at 18.5 million kg CO2e and Scope 2 at 69.3 million kg CO2e. Scope 3 emissions were about 48.8 million kg CO2e.
• In 2011, total emissions were approximately 134.8 million kg CO2e, including Scope 1 at 19.6 million kg CO2e and Scope 2 at 60.5 million kg CO2e. Scope 3 emissions were around 54.7 million kg CO2e.

Sompo Holdings has a stated long-term goal to achieve net-zero GHG emissions by FY 2050. This commitment encompasses investments and insurance underwriting, aligning with their "Sompo Climate Action Plan" focusing on adaptation, mitigation, and social transformation. The company is also working towards near-term reduction targets, such as a 60% reduction in own GHG emissions (Scopes 1, 2, and 3, excluding insurance underwriting, investments, and loans) by 2030, based on 2017 levels. Further detailed targets include a 25% reduction in Scope 2 emissions by 2030 from 2020 levels and a 30% reduction in Scope 1 emissions by 2030 from 2020 levels.