Sumitomo Life Sustainability Profile
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 52 is higher than 68% 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 2023, Sumitomo Life reported total carbon emissions of approximately 104,635,000 kg CO2e. This includes Scope 1 emissions of about 22,431,000 kg CO2e, primarily from stationary combustion, and Scope 2 emissions totalling around 16,396,000 kg CO2e. The majority of their emissions, approximately 65,808,000 kg CO2e, fall under Scope 3, which encompasses various categories such as business travel (about 3,545,000 kg CO2e), employee commuting (approximately 24,142,000 kg CO2e), and purchased goods and services (around 31,464,000 kg CO2e). Sumitomo Life has set ambitious reduction targets, aiming to decrease Scope 1 and Scope 2 emissions by 50% by 2030, using 2013 as the baseline year. This commitment reflects their proactive approach to climate action and aligns with industry standards for sustainability. The emissions data is sourced directly from Sumitomo Life Insurance Company, with no cascaded data from parent or related organizations. The company continues to focus on enhancing its sustainability practices and reducing its carbon footprint in line with global climate initiatives.
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| 2013 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 5,198,000 | 0,000,000 | 0,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 44,916,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is Sumitomo Life's Industry?
How Carbon Intensive is Sumitomo Life's Location?
Sumitomo Life's Scope 3 Categories Breakdown
Sumitomo Life's Scope 3 emissions, which decreased by 0% last year and decreased by approximately 50% since 2017, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 66% of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 47% of Scope 3 emissions.
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Sumitomo Life's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Sumitomo Life has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
