Efforts to Reduce the Environmental Impact throughout the Value Chain
From FY2021, we announced a greenhouse gas emission reduction policy, which aims to achieve net zero by 2050. We are working toward a goal of 60% reduction in 2030 (compared to 2017) by promoting measures such as switching to renewable energy as a source of over 70% of electricity used by the Group.
We committed to Science Based Targets (SBT), a global initiative that supports achieving the Paris Agreement’s 1.5°C goal. We also participated in financial SBT expert advisory group and are involved in creating a framework as the only Japanese insurance group.
We are also actively engaged in constructive dialogue with investees and business partners on the theme of ESG, and are working to reduce the environmental impact throughout the value chain.
"ONE SOMPO WIND Service" for offshore wind power operators
In July 2020, Sompo Japan and SOMPO Risk Management began selling "ONE SOMPO WIND service" to offshore wind power operators, which provide risk assessment from construction work through business operation and comprehensive insurance covering risks.
By promoting the spread of offshore wind power projects with very little carbon dioxide emissions, we will contribute to the realization of sustainable society.
SOMPO risk management has developed a risk assessment model in collaboration with the University of Tokyo to assess the inherent risks of offshore wind power in Japan. This risk assessment model combines the latest research results from the University of Tokyo and data collected by research institutes in Japan and overseas with risk analysis technology developed as an insurance company, thus enabling risk assessment specific to offshore wind power in Japan, which has been difficult to evaluate.
Sompo Japan comprehensively compensates for the risks surrounding domestic offshore wind power operators.
This insurance covers the risks associated with the construction of offshore wind power generation facilities and the operation of the business after completion, and compensates for the repair costs of facilities due to accidents or breakdowns during construction or operation of the business.
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We will continue to develop and provide products and services with the aim of providing the highest quality services that contribute to safety, security and health to stakeholders involved in the offshore wind power business.