MEIJI YASUDA LIFE INSURANCE COMPANY

Basic values and policies for initiatives towards circular economy

In line with its management philosophy, “Peace of Mind, Forever,” Meiji Yasuda considers the preservation of the Earth on which people can live with peace of mind to be a universal and crucial issue for humanity. Accordingly, we have positioned “Protect the environment and combat climate change” as an issue to create social value from the standpoint of both a business operator and an institutional investor. Also, we have stated in our Environmental Policy “to reduce environmental burden attributable to our business operations, we will strive for the effective utilization of resources and energy, by promoting such initiatives as resource saving, energy saving and resource recycling as well as the purchase of environmentally friendly products.” we are striving towards it.

Market opportunities and our strengths in circular business

As a life insurance provider, we use many printed materials and files. Therefore, we contribute to the dissemination of technology and products by introducing a system for ensuring the preferential purchase of products certified under environmentally friendly product certification systems, including the Eco Mark program and the Green Purchasing Network program.

Also, we are engaged in initiatives to reduce the use of plastic products and introduce environmentally friendly office equipment (using recycled resin from marine plastic waste). As an institutional investor, we support the efforts of invested companies through financing for initiatives that contribute to the conservation of the ocean such as plastic waste recycling and dialogue with invested companies who have a high involvement and impact on the circular economy.

Setting indices/targets

We monitor the proportion of environmentally friendly products purchased from these sources in overall value of office equipment purchased in FY2023, stood at 76.1%.

Also, we promoted a switchover from plastic-based file folders to recyclable paper folders and those made of LIMEX, an environmentally friendly material and contributed to the reduction of plastic product use totaling approximately 72.3 tons in FY 2023. By FY2023, we contributed to the recovery and recycling of marine plastic waste totaling approximately 1.25 tons through introduction of environmentally friendly office equipment.

Implementation system

We have appointed an executive officer in charge of sustainability management & development, with the aim of strengthening initiatives to contribute to the creation of a sustainable society. At the same time, a general manager position was created and charged with sustainability management & development. Also, the Sustainability Management & Development Committee was formulated as an advisory body to the Management Council. It is tasked with developing strategies for our overall sustainability management and discussing policies for initiatives to address priority issues (Materiality) while monitoring and reporting the progress of such initiatives to the Management Council and the Board of Directors.

As an institutional investor, we established the ESG Investment and Financing Policy and spearhead ESG investment and financing under the responsibility of General Manager, Responsible Investment Development.

Reference URL

https://www.meijiyasuda.co.jp/profile/sustainability_report/pdf/sustainability_report_2023.pdf

https://www.meijiyasuda.co.jp/profile/ir/responsible_investment/pdf/ri_report2.pdf