From Japan, the three major insurers – Tokio Marine, MS&AD, and SOMPO – are listed in the Scorecard as global players that underwrite fossil fuel projects worldwide. Although the Japanese insurers have been improving their climate policies, they are too slow and are lagging behind their European peers.
Among the three Japanese insurance giants, SOMPO currently has the best climate policies in Japan, with restrictions on coal and oil tar sand companies. MS&AD also adopted a corporate screening policy for coal and unconventional oil and gas, but it is considered extremely weak and contains numerous loopholes; thus, it is ranked in second place. Tokio Marine has no policy for corporate screening and is the worst laggard among the three.