p.1

Message from the President

p.2

Organizational Profile

p.3[Priority Theme 1]

Sustainability
Report 2021
Digest Edition

Promote Healthy and
Abundant Lives for All People

p.5[Priority Theme 2]

Provide Workplace Environmentsthat Enable All People toParticipate Actively

p.7[Priority Theme 3]

Help Mitigate and Adapt to
Climate Change

p.9[Priority Theme 4]

Invest to Help Builda Sustainable Society

CREATE VALUE FOR PEOPLE AND SOCIETIES.

Message from the President

Sowing happiness in the world throughthe “creation of shared value” that encompasses
both economic value and social value
Responding to the COVID-19 Pandemic

We have also established the “T&D Insurance GroupThe global COVID-19 pandemic, which began at the

Human Rights Policy,” which expresses the Group’s views

many people around the world are still suffering adverse

Policy, we conduct human rights due diligence on a reg-end of 2019, is still not under control as of 2021, andon respect for human rights. In accordance with this

impacts of various kinds.

ular basis to verify that there are no problems with the

It is precisely in times of global crisis like the current

pandemic that enhancing the stability and sustainabilityGroup’s human rights practices.

The Group, whose core business is life insurance, views

Responsibilities of the T&D Insurance Group /The World We Seek

lenge that it must address, and each Group company isthrough our products and services in our main business.

of society takes on its greatest importance.

the economic and health impact of COVID-19 as a chal-

The Group provides safety and security to our customers

working to provide products and services that respond to it.

Furthermore, the asset management business, in which

Formulation of the Group Long-Term Vision /SDGs Management and Creation of Valuecant public relevance and close connections to economic

we are engaged as an institutional investor, has a signifidevelopment and the realization of a sustainable society.

We have formulated the Group Long-Term Vision “Try &We believe that the Group has a responsibility to contrib-

holders-, which outlines the Group’s medium- to long-

The Group will fulfill its corporate social responsibility

Discover 2025” -In Pursuit of the Happiness of All Stake-ute to society through these businesses.

term goals and strategic policies to achieve them. We

by working on its newly formulated Long-Term Vision tohave also set five critical issues to work on for the growthof the Group.

We have set one of our critical issues as “SDGs man-agement and creation of value,” and have also established

new “non-financial KPIs” to quantitatively measure thecreation of social value. In this way, we will work to realize
the vision of “sowing happiness in the world.”

Thoughts to Share with the World /Initiatives to Address Social Issues

There are many common social challenges around theworld in addition to COVID-19, including climate change

and human rights issues. The Group established the
Climate Change Risk Subcommittee in 2020 to consider

and implement efforts towards net zero carbon andcarbon neutrality. As part of these efforts, we moved up
the deadline for achieving our CO2 reduction targets from2030 to 2025 and set this as one of the “non-financial
KPIs” in the Group Long-Term Vision. We are also actively
engaged in ESG investment activities.

Hirohisa Uehara

Representative Director and President,
T&D Holdings, Inc.

1

T&D Insurance Group Sustainability Report 2021

create shared value and “sow happiness in the world.”

Organizational
Profile● ScaleOrdinary revenues

Ordinary profit¥ 2,413.9¥ 228.1

Profit*No. of employees

billionbillion

19,615¥ 162.3
billion* Profit attributable to owners of parent● Group Structure (as of July 1, 2021)

Small and Medium
Enterprises Market

Household Market

Closed book business
Asset management business

T&D Holdings is a holding company
and the cornerstone of the T&D
Insurance Group, which
consists of 25 subsidiaries andaffiliated companies

Independent Insurance
Agent Market(financial institutions,insurance shop agents)

Pet & Family Insurance
Asset Management Market

Pet Insurance Market

Main Group Companies Other Than Above

Insurance & insurance-related businesses

Investment-related Businesses

Administration-related Businesses■ T&D Confirm Ltd.

■ T&D Lease Co., Ltd.

■ T&D Customer Services Co., Ltd.

■ Daido Management Service Co., Ltd.

■ Alternative Investment Capital, Ltd.

■ Nihon System Shuno, Inc.

■ Toyo Insurance Agency Co., Ltd.

■ Taiyo Life Aging Society Institute■ Capital Taiyo Life Insurance Limited■ Fortitude Group Holdings, LLC■ Taiyo Credit Guarantee Co., Ltd.

■ T&D United Capital North America Inc.

■ T&D Information System Ltd.

■ Zenkoku Business Center Co., Ltd.

■ Thuriya Ace Technology Company Limited■ Fortitude Reinsurance Company Ltd.
Digest Edition2

Priority Theme

Promote Healthy and Abundant Lives for All People
The T&D Insurance Group is committed to fulfilling its responsibilities to society through the insurance
business by offering high-quality products and services that meet customer needs.

PolicyResults for FY2020

Planned for FY2021

To contribute to the sustainable growth of society and to the solutionof social issues throughthe insurance businessby offering high-quality,
optimal products and services that meet customer
needs• Provision of “Infectious disease plus hospitalization insurance (lump-sum paymenttype),” which covers COVID-19•C ontinue to provide products and services that meet the needs of society• Free provision of COVID-19 mutual aid
insurance in collaboration with justInCase
Co., Ltd.
• Deployment of Taiyo’s GENKI Project• Provision of KENCO SUPPORT PROGRAM(health and productivity management support)• Expansion of product lineups to meet diversifying customer needs, etc.

• Offer Cancer/Critical Illness Prevention
Insurance• Offer “Hybrid Asset Life” single-premium
variable whole life insurance• Expand lineup of products offering afull range of protection to meet theneeds of SME owners, modernize coverage, improve the flexibility and convenience of various procedures, etc.

Initiatives by Taiyo Life
Taiyo Life is working to build the top brand in the senior market and provide high-quality products and services thatgive customers lifelong peace of mind. In FY2020, we implemented various support measures to provide simple andprompt payment of benefits to customers affected by COVID-19.

Product Development which Preempts the Changes of the Times
In September 2020, we launched a new “infectious disease plus hospitalization insurance (lump-sum payment type)”
product. This product, which supports customers’ daily lives against the impact of treatment costs and loss of income
due to hospitalization and other concerns, achieved sales in excess of 10,000 policies just 13 days after launch.
Introduction of online registration (non-face-to-face solicitation)
In January 2021, we introduced online registration (non-face-to-face solicitation) to digitize the entire process frominsurance application to payment. Online registration allows customers who prefer non-face-to-face services due to
COVID-19 to easily enroll on their smartphone or computer.
Prevention initiatives

In March 2021, Taiyo Life partnered with three companies, Ajinomoto Co., Ltd., H.U. Frontier Co., Ltd., andSelmesta Co., Ltd. (now H.U. Wellness Co., Ltd.) to launch AminoIndex® Risk Screening, which assesses both thecurrent likelihood of cancer and the future risks of stroke, myocardial infarction, and diabetes.

Initiatives by Daido Life
Daido Life is a life insurance company that specializes in the SME market. It provides products and services that take
into account changes in the environment surrounding SMEs, and has signed up some 370,000 corporate clients.

Launch of cancer stage limited J-type productIn December 2020, in order to ensure critical illness protection for more customers while keeping pace with medical technology advances and other changes, we launched our stage-limited cancer J-type product [non-participating
critical illness insurance (stage III, IV cancer protection only, no surrender value type)], which focus on serious cancers(equivalent to stage III and IV) that have a significant impact on the running of a business.

3

T&D Insurance Group Sustainability Report 2021

Procedures that Connect
In order to improve the convenience of customer procedures and adapt to the “new normal” of coexistence with the coronavirus,
we are trying to make all insurance procedures non-face-to-face as part of our Procedures that Connect initiative, so that customers can choose between “the security of face-to-face” and “the convenience of non-face-to-face” according to their needs.
When purchasing an insurance policy, after deciding on coverage, customers can complete the enrollment procedureon their smartphone or PC at home or at work at their own leisure without any restrictions on time or place.
Illustration of Procedures that Connect
CustomerInquiries/support

Non-face-to-face

Proceduresthat Connect

Support desk

Sales representative

Advantages of remote procedures
Anytime, anywhere
Customer completes the procedure on their smartphone without meeting witha sales representative
Easy and convenient
Remote procedures such as verifying identity and explaining importantmatters can be done on a smartphone by taking a photo or watching a video
Procedure support by the operator
If the customer has any questions, the operator can facilitate progress by
sharing the screen and demonstrating how to enter the information

Initiatives by T&D Financial LifeTo respond to diversifying customer needs, T&D Financial Life enriches its product lineup and provides products in atimely manner through banks and other financial institutions as well as insurance shops.

Development of products in response to changes in the social and economic environment
In February 2021, we launched Hataraku Anata Ni Yasashii Hoken 2, a product that eliminates the death benefit andprovides protection against loss of income and increase in expenses due to illness and injury.
We also launched Hybrid Asset Life in June 2021. This product is yen-denominated, single-premium variable whole life
insurance that supports asset formation through self-provision in the era of the 100-year life by combining an investment
trust with life insurance. We developed it as a product to help individuals enjoy life to the fullest by drawing down assets ina planned manner and to prepare them and their families for nursing care, dementia and inheritance while continuing toinvest, with a focus on long-term diversified investment.
Initiatives for Improving Customer Service Quality
T&D Financial Life is pushing ahead with various efforts to further improve customer satisfaction. In April 2020
we introduced Kaigo Concierge, a nursing care and dementia support service provided by Internet Infinity, Inc. forcustomers with insurance policies that cover nursing care and dementia. In addition, in order to improve services
for elderly customers and customers with disabilities, we have created a Family Registration Program that allows
pre-registered family members to perform a certain range of billing procedures on their behalf.

Initiatives by T&D Asset Management
Contributing to the Promotion of a Healthy Society through Investment
T&D Asset Management is contributing to solving social issues, such as maintaining health and supporting the elderly,
through selective investments in companies that excel from an ESG viewpoint and investments in health-related andhealth-management stocks.

Initiatives with Pet & Family Insurance
Insurance Protection for Precious Family Members
With the increased demand for pets during the COVID-19 pandemic, there is growing interest in pet healthcare andits associated costs. We therefore offer products that compensate for a portion of the costs of treatments for pets atveterinary clinics due to illness or injury.
Digest Edition4

Priority Theme

Provide Workplace Environmentsthat Enable All People to Participate Actively
The T&D Insurance Group respects the human rights of all people, respects the personality and diversity of
its employees, and is making various efforts to ensure a healthy and safe work environment and to develop
its human resources.
PolicyResults for FY2020

Planned for FY2021

To respect the human rights
of all people, respect thepersonality and diversityof our employees, ensurea healthy and safe working
environment, and develop
our human resources• Revised personnel and compensation systems
and introduced various support systems toenhance the work-life balance, including balancing work with nursing care
• Encouraged male employees to take childcare leave• Received the “Excellence Award” at the Platinum
Career Award organized by Toyo Keizai Inc. andother organizations• Developed IT infrastructure necessary for telework and introduced and encouraged online
conferencing systems, etc.

We will continue to create a flexible and dynamic workplace where
diverse personnel can demonstrate their abilities with job satisfaction and a desire to grow.

Utilization and Development of Human Resources ­­—Initiatives to Provide Opportunities for Growth—
Employee Career Formation
The three life insurance companies conduct education and training, primarily through OJT (on-the-job training), grouptraining, and support for personal development. These companies encourage autonomous career development by each
employee, by actively helping them to acquire qualifications and offering a diverse curriculum, including correspondence
education and e-learning. In addition, systematic rotation is implemented to provide employees with a variety of business experience, allowing them to be more capable of carrying out work from a broad perspective.
Management Training• Taiyo Life

Year-round training is offered to impartmanagement knowledge and skills for
managerial positions, and study materials have been introduced in supportof personal development (video-based
seminars) for branch general managers.

• Daido LifeA select number of newly appointed managers are sent outside the company to graduate schools and business schools for further
training. Furthermore, junior employees areprovided with skills training and guidance tosupport their career development.

Initiatives to Support Active Participation of WomenFor the T&D Insurance Group, further leveraging the capabilities of women isa source of sustainable enhancement of our corporate value, and the active
participation of women is an important management issue for the Group.
With this in mind, the Group’s three life insurance companies are working torevise their personnel and compensation systems, as well as introducing various support systems to enhance the work-life balance, including balancing
work with childcare and nursing care. In addition, by fostering Group-wide
collaboration to reduce total working hours and encourage male employees
to take childcare leave, we are promoting the creation of workplace environments where everybody is motivated to play an active role.

5

T&D Insurance Group Sustainability Report 2021

• T&D Financial Life

Training for newly appointed key managers is conducted to help them acquire thebasic management skills required for key
management positions and to promote
their understanding of risk management
and compliance.

Ratio of female managers(Total of the three life insurance companies)

14.9%

April
2017

15.8%

April
2018

16.2%

April
2019

17.0%

April
2020

17.9%

April
2021

Work-Life Balance Initiatives
The T&D Insurance Group companies are working to strengthen various initiatives to ensure a work-life balance for their employees. For example, each company is further improving its childcare leave system and is committed to reducing total working
hours. These measures let employees fully demonstrate their capabilities in the workplace while still fulfilling their responsibilities
at home, such as housework, child-rearing, and nursing care. The Group also believes that in promoting the active participationof women, it is essential to create a workplace in which women can continue to work for as long as they wish, but still have theopportunity to take time off to experience key life events. As part of this approach, the percentage of male employees taking
childcare leave has reached 100% at the three life insurance companies by encouraging male employees to take time off to help
raise their children. The Group as a whole is working to achieve an optimal work-life balance in a unified manner.
Acquisition status of maternity, childcare, and nursing care leave at the three life insurance companies (FY2020)

No. of persons taking
maternity leave372

No. of persons taking
childcare leave

No. of persons taking
nursing care leave(84 male, 331 female)(1 male, 2 female)

415

3

Average number of paidvacation days acquired*

16.1* Paid leave taken by administrative personnel at the three life insurance companies.

Health and Productivity Management Initiatives
Group Initiatives
In-House NonSmoking Initiatives

In the interests of strengthening measures to prevent second-hand smoke and promoting mental and physicalhealth, in July 2018, the T&D Insurance Group implemented an in-house non-smoking policy (eliminatingsmoking areas on company premises and prohibiting smoking during work hours) at all Group companies.

Health Insurance
Association

 he three life insurance companies have their own independent health insurance association, which work toTprevent lifestyle-related diseases and otherwise promote the health of association members.
We subsidize the cost of health check-ups, including annual physical examinations, and promote cancer screening.

Group Company Initiatives• Taiyo Life

With the aim of preventing lifestylerelated diseases, Taiyo Life cooperates with
Kaminoyama City in Yamagata Prefecture tooffer various support services such as Kurort
Health Walking and Smart Life Stay (accommodation packages that incorporate thegovernment’s specified health guidance).
Beginning in FY2021, Taiyo Life’s health andproductivity management initiatives will
include AminoIndex® Risk Screening, whichassesses the current likelihood of cancer andother risks all at once.

• Daido Life

Daido Life’s “DAIDO COCO-KARA” initiative aims to realize a workplace where
all employees can be both physically andmentally healthy and work in a spirited
manner. The initiative includes efforts to
reduce working hours (including automatically shutting down computers used forwork), regular preventive health checkups
for all employees, establishment of consultation desks related to second opinions
and cancer, and the provision of wearable
devices.

• T&D Financial Life

T&D Financial Life has implemented initiatives to promote employee health, with amanagement initiative of creating a workplace where employees can feel job satisfaction. These include initiatives to reduce
working hours, such as establishing a“No Overtime Day” and a “Leave Work
Early,” and automatically shutting down
computers used for work, as well as fully
implementing regular health checkups,
conducting stress checks, and abolishingin-house smoking areas.

Digest Edition

6

Priority Theme

Help Mitigate and Adapt to Climate Change
While climate change on a global scale is a risk for the continuity of the T&D Insurance Group’s business activities, at the sametime, it represents an opportunity to undertake new activities. The Group will fulfill its public mission of life insurance and otherbusinesses and undertake its corporate social responsibilities with full awareness of the importance of environmental concerns.
PolicyResults for FY2020

Planned for FY2021

To contribute to climatechange mitigation and adaptation through our own
business activities as a provider of insurance products
and services to customers
and through our actions as
an institutional investor•E stablished CO2 emission reduction targets
and positioned them as non-financial KPIs in
the newly formulated Group Long-Term Vision• Further reduction of CO2 emissions
by promoting the introduction ofrenewable energy• Established a new Climate Change Risk
Subcommittee to strengthen our response
to climate change•C onducted quantitative scenario analysis of physical risks to enhance compliance with TCFD, etc.

•F
 urther expansion of 2050 net-zero goal
• Quantitative scenario analysis of transition risks to further enhance compliance with TCFD, etc.

Initiatives to Reduce Environmental Impact
The Group companies cooperate to establish environmental protection-related targets and then work to achieve them in theirbusiness activities.

More than 90% of the Group’s CO2 emissions come from electricity consumption. We are therefore working to reduce CO2

emissions by curbing energy consumption through the implementation of the Cool Biz and Warm Biz campaigns, as well as
the Lights Down Campaign, which calls for a simultaneous switch-off of all office lighting.
CO2 Emissions

Baseline: CO2 emissions in 2013 (value per unit of floor space) = 0.0674 t/m2
Target: Reduction by at least 40% from baseline by FY2025
Scope: Buildings owned or leased and used by Group companies. Owned buildings include tenant usage; only
the leased area is applied for leased buildings.

Baseline (FY2013)

Actual results in FY2020

59,908 t

44,714 t

CO2 emissions (Scope 1+2)
Total floor space

2

888,529 m

950,959 m2

Per unit of floor space

0.0674 t/m

0.0470 t/m2—

69.7%(-30.3%)

2Compared to baseline

In addition to CO2 emissions, the T&D Insurance Group has set Group-wide targets for electricity consumption, office paper consumption,and the green purchasing ratio as part of its efforts to mitigate its environmental impact.

Forest Conservation Activities
Life insurance companies use various kinds of paper including office paper, life insurance pamphlets, policy provisions
and others in the course of its business operations. To restore forest resources and preserve greenery, Taiyo Life conducts
afforestation projects. It has established “Taiyo Seimei no Mori” (the Forests of Taiyo Life) in Tochigi and Shiga prefectures.
“Taiyo Seimei no Mori” (the Forests of Taiyo Life)In addition to ongoing forest maintenance activities such as thinning and maintenance of walking trails, we also invite members of
the Japan Down Syndrome Society and their families to take part ina forest studies class experience.

Nasushiobara(Tochigi Prefecture)
Date of Establishmen:
March 2006
Area: Approx. 4.8 ha
CO2 Absorption: 19 t
(Estimate by the Forestry
Agency)7

T&D Insurance Group Sustainability Report 2021

“Taiyo Seimei Kutsuki no Mori” (Kutsuki Forest of Taiyo Life)In addition to forest improvement activities, including the improvement of forest roads and the clearing out of fallen leaves in red
pine forests, we also hosted the “Donguri Project” (Acorn Project),wherein local elementary students grew broad-leaf seedlings fromacorns and then planted them in the forest at the time of graduation.

Takashima(Shiga Prefecture)
Date of Establishment:
November 2007
Area: Approx. 12.7 ha
CO2 Absorption: 81 t
(Estimate by Takashima
City)

Disclosure of Climate-related Financial Information Based on the TCFD Recommendations
Climate change is an issue to be addressed on a global scale. The effects of climate change have significant impacts
on the lives of people, through changes in economic behaviors and society worldwide. The T&D Insurance Group has

expressed its support for the recommendations of the TCFD (Task Force on Climate-related Financial Disclosures),and is actively committed to disclosing climate-related financial information in an easy-to-understand manner.

Governance

The Board of Directors has established the Group SDGs Committee as a subordinate body. The Group SDGs Committee formulates
policies and measures regarding the global environment and social issues such as SDGs, while periodically monitoring the progress ofsuch initiatives, and reporting to the Board of Directors thereon. The Board of Directors has also established the Climate Change Risk
Subcommittee as a subordinate body of the Group SDGs Committee. The agenda to be deliberated at the Group SDGs Committee isreported to the Executive Management Board, and the results of the deliberations are reported to the Board of Directors.

Strategies

The scenario analysis below was carried out in order to assess the impact (physical risk*1 and transition risk*2) of climate change on
the Group.

*1 Business risks associated with natural disasters caused by extreme weather such as typhoons and floods, and those associated with phenomena such as an increasein the average temperature and a rise in the sea level*2 Business risks arising from the behavior of governments, corporations, and consumers in the process of carrying out the transition to a society with low or net-zerocarbon emissions (through a significant reduction of greenhouse gas emissions)

Scenario Analysis
Assumptions

1.5°C scenario: Strict measures are taken against climate change. By the end of the century, the average annual temperature will
increase by 1.0 to 1.8°C.
4°C scenario: No measures are taken against climate change beyond the current status quo. By the end of the century, theaverage annual temperature will increase by 3.3 to 5.7°C.

The world underthe 1.5°C scenario

The world underthe 4°C scenario

Overview

Tighter regulations and the introduction of a carbon
tax. Expanded disclosure requirements (increased
business costs for companies).

Overview

Due to the large rise in average temperatures, theimpact of frequent and intense natural disasters
becomes significant.

Physical risks

Increases in the number of heat stress deaths andheat stroke hospitalizations.
Both of these increases will be gradual over a long
period of time, which will limit their impact onunderwriting profitability.

Physical risks

Significantly higher average temperatures will leadto an even larger increase in heat stress deaths andheat stroke hospitalizations than under the 1.5°C
scenario.

(impact onunderwriting
profitability)

Transition risks Expansion of new technologies such as renewable energy.
(impact on
investment
income)To avoid damage to investment income from the impact
on investees and borrowers, we will, as appropriate,
promote investment and financing activities to businesses and companies that contribute to the transition
to a society with low or net-zero carbon emissions.

(impact onunderwriting
profitability)

Transition risks As in the 1.5°C scenario, the impact on investees(impact on
investment
income)and borrowers will be small, since there will be no
sudden changes in the environment.
In order to avoid damage to our investment income,we will avoid or withdraw investment and financing
to firms with significant physical risks.

Opportunity

It is expected that needs will arise for protection (involving death, annuities, and medical care) against emerging risks. There are opportunities
to expand net sales of the insurance business, by expanding and providing a wider scope of protection in order to meet such emerging needs.

Risk management

The Group exhaustively classifies, identifies, and assesses the risks it faces, and prioritizes initiatives by considering factors such as each risk’s
significance and potential impact, which are then reflected in management plans, as necessary.

In order to identify and grasp newly emerging risks, as well as changes in risks that have already been identified, a risk profile review is carriedout twice per year, and reported to the Group Risk Management Committee and the Board of Directors.

Metrics and targets• The Group’s four targets are “to reduce CO2 emissions,” “to reduce electricity consumption,” “to reduce office paper consumption,” and “toimprove the green purchasing ratio.” Progress toward the achievement of these targets is disclosed in various reports and websites.

•W ith respect to CO2 emissions, Scope 1 (direct emissions from the Company), Scope 2 (indirect emissions via the purchase of energy including
electric power), and Scope 3 (indirect emissions via other corporate activities including procurement of materials, transport, and disposal) aremeasured and disclosed on a continuous basis.

• The CO2 emission reduction covers Scope 1 + Scope 2, with FY2025 as the deadline for achievement. In addition, we aim to achieve net zerocarbon emissions by 2050, including our own investees and borrowers (Scope 3: Category 15).

•W ith respect to the target to reduce electricity consumption, efforts are underway to achieve the target for the next ten-year period from FY2018.

•W ith respect to the target to reduce office paper consumption, efforts are underway to achieve the target for the next five-year period from FY2019.
Digest Edition8

Priority Theme

Invest to Help Build a Sustainable Society
T&D Insurance Group will contribute to the realizationof a sustainable society through investment activities
undertaken in consideration of the environment,
society and corporate governance.
PolicyResults for FY2020

Planned for FY2021

To secure stable long-term
investment income and contribute to the realization of asustainable society throughinvestment activities undertaken in consideration of theenvironment, society and corporate governance, with theaim of growing sustainably inpartnership with society•E stablished the T&D Insurance Group ESG
Investment Policy, which expresses theGroup’s stance towards ESG investment• Continue to make various ESG
investments that contribute to
the resolution of social issues
and the realization of a sustainable society•E stablished the ESG Investment Committee tostrengthen support for ESG investment•M ade investments in Green Bonds, which
contribute to solving environmental problems,and Social Bonds, which contribute to measures against the spread of COVID-19, etc.

Signing of the Principles for Responsible Investment (PRI)
The three companies: Taiyo Life, Daido Life, and T&D Asset Management are signatories of
the Principles for Responsible Investment (PRI)*, which are supported by the United Nations,and are committed to investment and financing that take into account environmental, social,and corporate governance issues.
*T he Principles for Responsible Investment (PRI) are a code of conduct for the global financial industry that was proclaimed by Kofi Annan, the secretary-general of theUnited Nations in 2006. A commitment to these principles has been signed by over 4,200 financial institutions worldwide, and by 95 in Japan (as of August 2021).

T&D Insurance Group ESG Investment Policy
In accordance with the T&D Insurance Group’s Corporate Philosophy, the Group has established the T&D Insurance GroupESG Investment Policy, which expresses the Group's stance towards ESG investment.
As an institutional investor, contributing to realizing a sustainable society through investment is one of the most fundamental roles of the Group. The Group will secure stable long-term investment income and contribute to the realizationof a sustainable society through investment activities
undertaken in consideration of the environment, sociT&D Insurance Group ESG Investment Policy can be found here:
ety, and corporate governance, with the aim of growing
https://www.td-holdings.co.jp/en/csr/csr-policy/esg.html
sustainably in partnership with society.

The T&D Insurance Group’s stance on Investment and Financing for Coal-fired Power Generation Projects
We recognize that coal-fired power generation and other fossil fuel-related businesses are one of the factors driving environmental problems such as climate change and air pollution, and that the attitude of institutional investors in this sector is more
important than ever before.
It is the Group’s policy not to make any new investments or loans to coal-fired power generation projects. However, we may
consider investments and loans in cases where the environmental impact of the project will be reduced, for example throughthe development of new technologies for carbon capture and storage (CCS) or carbon capture, utilization and storage (CCUS).
Examples of ESG Investment and Financing
Investments in environmental problem solving green bonds
We invest in Green Bonds, which financially support various
projects by local governments and incorporated administrative
agencies. These projects include working on“C rea t i n g S m a r t E n e rg y C i t i e s ” a n d“Adapting to the Effects of Climate Change,”and promoting the convenience of urbanrail, which is expected to be effective in
improving the environment, including
reducing CO2 emissions.

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T&D Insurance Group Sustainability Report 2021

Investment in funds that support projects that contributeto the promotion of human healthWith the aim of responding to the social issue ofextension of healthy life expectancy, weinvested in the Fund Supporting Good Health,which targets listed corporations in Japan that
conduct businesses such as pharmaceuticals,
healthcare, sports clubs, and health foods, aswell as the Japan Healthy Society Support Fund.

SocialActivities
Taiyo Life

Sponsorship of the Japan Junior High School
Rugby Football Tournament
Since fiscal 2011, Taiyo Life has been a special sponsor of theJapan Junior High School Rugby Football Tournament (Taiyo
Life Cup) hosted by the Japan Rugby Football Union (JRFU).
Together with the JRFU, we are committed to the promotion
and development of junior high school rugby in Japan and thehealthy development of young people.

Daido Life

Daido Life Survey

Since October 2015, Daido Life has been conducting the Daido Life
Survey, a monthly survey that collects the opinions of the managers of
SMEs on such matters as business confidence and management issues.
Daido Life sales representatives have visited about 12,000 SMEs acrossthe country to hear the unfiltered opinions of their business owners. The
results of the survey are compiled into a report that is sent to customers
across Japan and also made available to the general public.
Daido Life website[Daido Life Survey]

T&D
Financial
Life

Official Partner Agreement Concluded withJapan Deaf Football Association (JDFA)
T&D Financial Life signed an official partner agreementwith the Japan Deaf Football Association in June 2018.
As an official partner, T&D Financial Life will contribute to
the development and spread of deaf soccer and futsal by
supporting their activities and promoting sports for persons
with disabilities.

Support for Areas Affected by Disasters
When a major disaster occurs, the T&D Insurance Group and its Group companies
provide support that includes making contributions to disaster relief funds and cooperating with recovery work. When the 2020 Kyushu floods struck Japan in July 2020,
we donated money to support the victims of the disaster and to help rebuild theaffected areas.
Digest Edition10

Response to COVID-19
The Group is engaged in a variety of initiatives in response to COVID-19.

The Group will work as one with the hope the situation is resolved as soon as possible.

Support for Customers
We are continuing to provide stable financial services to our individual and SME customers,
including products that address their needs related to COVID-19.

First to provide “Infectious disease plus hospitalization insurance (lump-sum payment type),” which
covers COVID-19 (Taiyo Life)
Free provision of COVID-19 mutual aid insurance in collaboration with justInCase Co., Ltd. (Daido Life)
Extension of the grace period for payment of premiums and the period for policy renewal procedures
Simple and rapid payment of claims, benefits and policy loans

Support for Employees
We are committed to maintaining a worry-free work environment for our employees, for example by encouraging non-face-to-face solicitation out of concern for the safety of customers.
Promote telework by using telecommuting and satellite offices(under a declared state of emergency, the work attendance rate is limited to 30%)
Promote staggered work hours
Use of remote conferencing tools
Introduction of systems and tools to enable non-face-to-face solicitation

External evaluation
Evaluation by ESG assessment organizations
International

Japan

Major awards
For the fifth year in a row, Taiyo
Life and Daido Life have beenrecognized as members of theCertified Health and Productivity
Management Organization White500.

All three of the Group’s life insurance companies have obtained
the “Platinum Kurumin” mark,as have T&D Asset Management
and T&D Information System.

MSCI ESG Research logo disclaimer: THE INCLUSION OF T&D
Holdings, IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS,
TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOTCONSTITUTE A SPONSORSHIP, ENDORSEMENT OR PROMOTION OF
T&D Holdings, Inc. BY MSCI OR ANY OF ITS AFFILIATES. THE MSCIINDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND THE
MSCI INDEX NAMES AND LOGOS ARE TRADEMARKS OR SERVICEMARKS OF MSCI OR ITS AFFILIATES

For the third year in a row, T&D
Holdings received the Platinum
Career Award.

7-1, Nihonbashi 2-chome, Chuo-ku, Tokyo 103-6031, Japan Tel: +81-3-3272-6115
https://www.td-holdings.co.jp/en/ mail:csr@td-holdings.co.jp

Easy to read universal design
fonts are used.

Published in November 2021