Sumitomo Life Insurance

The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body. The financial institution assigns responsibility for implementing its sustainability strategy to functions, teams or committees within the financial institution.

The financial institution has a publicly available policy statement committing it to respect human rights. The financial institution has a publicly available policy statement committing it to respect the ILO core labour rights. The financial institution has a publicly available policy statement expecting suppliers to respect the ILO core labour rights.

The financial institution has time-bound and measurable targets for provision of products, services and capital for these climate solutions. The financial institution progresses in line with its climate solutions target. The financial institution transparently identifies the key sectors, clients and investees to engage with on climate issues. The financial institution monitors its scope 1-2 emissions.

The institution has opportunities to disclose its methods for determining a living wage in its operational regions and to publish a policy statement against bribery and corruption. It can include anti-bribery and anti-corruption clauses in contracts and link senior executive remuneration to sustainability targets. A stewardship policy supporting environmental transitions and social best practices aligned with its sustainability strategy is recommended.

While it identifies sectors for nature-related impacts, detailing the prioritisation process is an opportunity. The institution discloses the monetary amount of products, services, and capital linked to high-impact sectors but could provide further details. Engaging clients and investees to promote nature protection strategies is encouraged, along with providing examples of how its offerings support climate adaptation. Although it discloses financed emissions, expanding coverage and detailing the methodology for footprint calculations is recommended.

A breakdown of clients by income group and operational disclosures by country are suggested. The risk assessment process should include ILO fundamental rights risks, with a mitigation process for identified risks. Lastly, providing specific conclusions and actions taken regarding salient human rights issues from assessments in the last three years is recommended.

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.