Sustainability Promotion Framework

We will expand collaboration among the Group and strengthen Sustainability promoting efforts

The T&D Insurance Group has established the Group Sustainability Promotion Committee,^*1 which consists mainly of officers in charge of sustainability/CSR (planning and CSR) at each Group company.

The Group is enhancing sustainability promotion framework by deliberating Group-wide sustainability policies and initiatives by the committee, while encouraging each Group company to actively pursue sustainability promotion efforts in its respective operations.

The committee has been positioned as a subordinate body of the Board of Directors, with the aim of further promoting sustainability within the Group and unifying as a Group to advance initiatives. The committee will serve as the driving force of the Group’s sustainability promotion efforts, responsible for determining basic policies and priority themes for SDG and CSR activities, formulating annual plans, and regularly monitoring the status of implementation. The committee is chaired by the President of T&D Holdings (Representative Director and Chairperson of the Board of Directors), with the officer in charge of the T&D Holdings Sustainability Promotion Department serving as vice chairperson. In fiscal 2023 the committee met four times. Matters deliberated over, considered and shared by the committee are reported to the Board of Directors. In addition, to proactively respond to increasingly important climate change issues, two dedicated subcommittees have been established as subordinate bodies to the Group Sustainability Promotion Committee: the Climate Change Risk Subcommittee^*2 and the ESG Investment Subcommittee. In fiscal 2023, a new Social Impact Study Subcommittee was established as a subordinate body to the Group Sustainability Promotion Committee, with the aim of establishing mechanisms and rules to measure the positive impact on the environment and society achieved by our insurance products and services, as well as our ESG investment and loan activities. The subcommittees are chaired by the General Manager of the Sustainability Promotion Department of T&D Holdings, who is in charge of promoting Group sustainability, and consist of the heads of the planning, risk management, and asset management departments at each Group company, as well as the persons in charge of handling these issues (section managers). In addition, we have established the Sustainability Promotion Working Group,^*3 which comprises the departments in charge of sustainability/CSR at T&D Holdings and each Group company. The Working Group advances each Group company’s sustainability promotion activities by sharing information on sustainability promotion at each Group company, and assisting with the management and activities of the Group Sustainability Promotion Committee. The Group Sustainability Promotion Committee mainly reviews sustainability report changes compared to the previous fiscal year and approves information to be disclosed for the current fiscal year. In addition, the Group Sustainability Promotion Committee is instrumental in obtaining external assurance for major indicators related to priority sustainability themes, obtaining third-party opinions related to sustainability reports, and engaging in dialogue with experts on sustainability issues.

This committee was established in fiscal 2021 to improve the Group’s sustainability initiatives by incorporating the perspectives of external experts and the latest trends.

We disseminated sustainability/CSR-related information within the Group through Group newsletters and training including e-learning to raise the sustainability awareness of executives and employees.

T&D Holdings is promoting activities for each of the core subjects and themes of ISO 26000 through the meeting bodies shown in the table below.

The activities of committees other than the Group Sustainability Promotion Committee related to the core subjects and themes of ISO 26000 are described below.

T&D Holdings has established an Executive Management Board and Group Strategy Board. The Executive Management Board is composed of the chairman, president, executive vice president, and executive officers, and it primarily discusses and resolves important matters related to the management of the Company and of the Group. The Group Strategy Board consists of the President, executive officers in charge of the business planning units and financial strategy units, and the presidents of Taiyo Life and Daido Life, who are also members of the Company’s Board of Directors. The Group Strategy Board discusses matters related to the Group’s growth strategies and other important matters associated with them.

This committee was established under the Board of Directors to strengthen the T&D Insurance Group’s compliance structure. Its chairperson is the president, and its vice chairperson is the executive officer in charge of the Risk Management Department (responsible for compliance). In addition to promoting, monitoring, and improving the Group’s compliance structure, the committee investigates, plans, and discusses issues related to promoting fair business practice, violations of laws and ordinances during the execution of duties, and other such issues. The committee verifies the compliance status of the T&D Insurance Group Compliance Code of Conduct and the effectiveness of the compliance structure through periodic monitoring of the Group’s compliance promotion situation in terms of fair operating practices and deliberations on them. The committee also reports any issues it deliberates on or considers as well as information it shares to the Board of Directors.

To improve human capital to further the growth of the T&D Insurance Group, the existing Group HR Committee was reorganized as the Group Human Capital Improvement Committee as a subordinate committee to the Group Strategy Board on April 1, 2024. Meeting quarterly, the committee is tasked with formulating and promoting the Group’s human resources strategy, while exploring and deliberating over challenges to improving human capital across the Group. The committee is chaired by the officer in charge of the Human Resources & General Affairs Department of T&D Holdings, and its members include the officers in charge and general managers of human resources departments at the Group’s three life insurance companies, and to coincide with the reorganization, also includes the officer in charge of the Group Planning Department and its general manager, establishing a system to strengthen coordination between management strategy and human resources strategy.

A Group Human Capital Improvement Subcommittee subordinate to the Group Human Capital Improvement Committee, which meets monthly, has also been established. The subcommittee is tasked with specific consideration and implementation of the matters considered and deliberated over by the Group Human Capital Improvement Committee.

Positioned directly under the Executive Management Board, the Group Risk Management Committee manages and controls risks that the T&D Insurance Group is exposed to and ensures thorough risk management. The committee chairperson is the executive officer in charge of the Risk Management Department. The committee also engages in conducting surveys, formulating plans, and holding discussions regarding the risks associated with outsourcing management of our business partners. The committee also reports the results of its deliberations to the Executive Management Board and the Board of Directors.

The customer service department and product development department of each Group company, including the three life insurance companies, constantly work on customer service, support, complaint and dispute resolution, and education and awareness-raising.