Meiji Yasuda Life Insurance

The financial institution maintains a publicly available policy statement affirming its commitment to uphold the ILO core labor rights. Regarding governance, it delegates responsibility for implementing its sustainability strategy to designated functions, teams, or committees within the organization.

In addition, the financial institution also has a stewardship policy designed to support environmental transitions and promote social best practices in alignment with its sustainability strategy. This policy addresses client and stakeholder engagement, as well as advocacy, and partnerships. Finally, the financial institution has established one or more interim targets for 2030 or earlier (e.g., 2025 and 2030) aligned with a 1.5°C trajectory.

The financial institution has the opportunity to disclose its methodology for determining a living wage in its operational regions and to provide a publicly available policy statement against bribery and corruption. While it identifies material topics, further detail on the objective criteria and evidence used for prioritising material impacts across the value chain is needed. Other recommendations include disclosing third-party assurance of target reporting, linking senior executive remuneration to sustainability targets, as well as influencing clients on nature protection strategies.

The financial institution’s financed emissions data from 2021 is outdated, and it should provide more recent emissions data as well as detail its footprint calculation methodology. It is further recommended to disclose a transition plan for its operations, supply chain, and portfolio, as well as ensure scope 1-3 emissions align with interim targets. With regards to nature, the financial institution should discloses the aggregate amount and/or share (in monetary terms) of its provision of products, services and capital devoted to specified nature-positive solutions.

Additionally, the financial institution should outline processes to avoid unintended divestment from low-income countries, include risks related to ILO fundamental rights in its risk assessment, and establish mitigation processes for identified risks. Furthermore, the institution should identify social risks linked to the net zero transition. Finally, it should provide examples of actions taken regarding salient human rights issues from assessments conducted in the last three years, as well as break down clients by income group.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.