Sumitomo Life
Sumitomo Life Insurance Company, commonly referred to as Sumitomo Life, is a prominent player in the insurance industry, headquartered in Tokyo, Japan. Established in 1907, the company has a rich history marked by significant milestones, including its expansion into various operational regions across Asia and beyond. Specialising in life insurance, Sumitomo Life offers a diverse range of products and services, including individual and group life insurance, annuities, and health insurance. What sets them apart is their commitment to customer-centric solutions and innovative insurance products tailored to meet the evolving needs of policyholders. With a strong market position, Sumitomo Life is recognised for its financial stability and robust performance, making it a trusted choice for millions. The company continues to uphold its legacy of excellence while adapting to the dynamic landscape of the insurance sector.
DitchCarbon Score
How does Sumitomo Life's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Insurance Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Sumitomo Life's score of 31 is lower than 50% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Sumitomo Life's reported carbon emissions
In 2022, Sumitomo Life reported total carbon emissions of approximately 303,000,000 kg CO2e, comprising 13,306,000 kg CO2e from Scope 1, 28,687,000 kg CO2e from Scope 2, and a significant 259,788,000 kg CO2e from Scope 3 emissions. The Scope 3 emissions included notable contributions from employee commuting (54,600,000 kg CO2e) and purchased goods and services (38,646,000 kg CO2e). Comparatively, in 2021, the company recorded total emissions of about 273,000,000 kg CO2e, with Scope 1 emissions at 13,112,000 kg CO2e, Scope 2 at 30,432,000 kg CO2e, and Scope 3 at 248,388,000 kg CO2e. This indicates a slight increase in overall emissions from 2021 to 2022. Sumitomo Life has not set specific reduction targets under the Science Based Targets initiative (SBTi) nor has it made any formal climate pledges. The company’s emissions data is not cascaded from a parent organization, indicating that it independently reports its carbon footprint. Overall, while Sumitomo Life has made strides in transparency regarding its emissions, the absence of defined reduction targets highlights an area for potential improvement in its climate commitments.
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| 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| Scope 1 | 15,476,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 38,795,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 276,226,000 | 000,000,000 | 000,000,000 | 000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Sumitomo Life is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
