サステナビリティ経営

Organizational Profile

Priority Theme

1 2 3 4Social Activities

Governance and Internal Control

Management Control

Third-party Opinion

Index

T&D Insurance Group Sustainability Report 2023

Third-Party Opinion
It was extremely fascinating to read this report—which started with President Uehara’s powerful
message concerning the Group’s efforts to resolve social issues through its business and sow
happiness in the world by creating shared value—and covered the Group’s progress on various
activities. I fully expect even more effective efforts by the Group and have provided my third-partyopinion below.

1 Promoting SDGs management and creation of value
The Group’s Sustainability Advisory Committee was established in fiscal 2021. The Group receives
expert proposals from and engages in dialogues with this committee, thereby demonstrating theGroup’s actions and commitment, and the committee seems highly effective in terms of working
towards SDGs management and creation of value, a goal set forth under the Group Long-Term
Vision (Try & Discover 2025).
The specific proposals from these experts on working towards decarbonization, the Sustainability
Statement, ESG investment, and support for SMEs are also addressed by follow-up topics,
which shows that the Group takes proposals from the committee seriously and acts accordingly.
Going forward, I expect the Group to make specific progress and further expand its information
disclosure.

2 Initiatives on respect for human rights
This year, the Group published information on identified human rights risks, and, under its items
for priority confirmation, it disclosed research results concerning harassment and excessive
working hours.
In terms of the Group’s future initiatives, I expect the Group to delve deeper into its report that it
has confirmed that no serious human rights issues requiring correction have arisen in the Group’sbusiness activities, such as by describing the specific kinds of human rights due diligence theGroup implements and disclosing the methods and specific results. Regarding step 4: humanrights risk mitigation measures and remedial measures, I also expect the Group to make progresson specific actions to mitigate risks in particular.
In addition, the current trend is for people around the world to demand that the influence ofhuman rights due diligence extend over the entire value chain, including business partners, customers, and investment and loan recipients. As a leader in Japan’s insurance industry, I expect theGroup to expand the range of such activities, thereby increasing value.

3 Climate change measures
I feel like the Group has taken a major step forward by disclosing climate-related financial information based on the TCFD recommendations, publishing the future-prediction-based resultsof quantitatively analyzing the effects of physical risks on underwriting profitability, publishing
information on the CO2 emissions of investment and loan recipients, and disclosing the following
information: CO2 emissions of 1.989 million tons as of the end of fiscal 2022 based on the investment and loan recipient portfolio and achieving a 33.3% reduction compared to 2020.
I suspect that the above is a result of the Group, which is an institutional investor, requesting thatits investment and loan recipients implement comprehensive information disclosure, including
publishing emission reduction goals and a roadmap for achieving them, in the interest of addressing climate change to achieve net zero emissions, while also engaging in constructive dialogues
with such recipients.
Currently, the Group’s investment and loan recipients subject to disclosure consist of stocks,
bonds, and loans issued by Japanese listed companies and included in the assets owned by Taiyo
Life or Daido Life, but I feel like—if the Group starts disclosing information on a wider range ofinitiatives covering not only Japanese listed companies but also other investment and loan recipients throughout the Group’s portfolio as a whole—the Group will gain the deeper understandingof its stakeholders.
Starting at the end of March 2023, it became a requirement to disclose information on human capital, resulting in a need to promote human capital management. The subject of Group
Employee Dialogue, which are actively being held in new areas, also came up in this report. TheGroup has established a goal of reaching a 30% ratio of female managers by 2030, but the Groupis also tackling a wide range of other items, including human resource development, engagement, fluidity, diversity, health and safety, labor practices, compliance, and ethics. Thanks to theGroup’s comprehensive medium- to long-term vision and goal setting, I expect it to achieve evenmore successful participation by wonderful human resources.

Ai Aonuma Representative Director, Kamakura Sustainability Institute (KSI)
In 2011, after working for an SRI investment advisory company, Ai Aonuma
began working in the area of social audits and labor environment improvement
work. Later, she joined the sustainability department of a major apparel company, where she was in charge of sustainable supply chains. In 2018, she established KSI. Presently, she is engaged in social audits in Japan and overseas
in various industries while also providing sustainability consulting. She alsoserves as a board member of WaterAid Japan.

108