Sustainability
Tokio Marine Kiln recognises the complex and immediate threat posed by climate change, which has far-ranging impacts on our business and on society.
We are committed to adapting to this evolving landscape. We are taking action to underwrite and operate more sustainably and are investing in new product development to support a more sustainable world.
Following the philosophy of our parent company Tokio Marine Group, which has supported customers for more than 140 years, we take our responsibility to climate change seriously. You can find the Tokio Marine Group climate strategy here.
We have set seven key targets in our management of climate change
- Develop plans for our business, aligned with Tokio Marine Group, in
support of its goal of being net zero by 2050. - Continue to collaborate with Tokio Marine Group to support the achievement of carbon neutrality within operations.
- Consider and support the climate risk management of policyholders as part of our underwriting, where appropriate.
- Make public disclosures in line with Task Force on Climate-related Financial Disclosure
(TCFD) expectations. - Incorporate environmental opportunities in underwriting, product innovation, and investments.
- Capture physical risks of climate change in exposure management and pricing.
- Support Tokio Marine Group Companies’ environmental goals by sharing our experience.
READ OUR 2024 SUSTAINABILITY REPORT
Sustainability became an integral part of our corporate strategy in 2019 and since then, we have taken strategic action across a range of areas.”
Matthew Shaw
Chief Executive Officer
SUSTAINABLE UNDERWRITING:
We introduced sustainable underwriting principles to guide our decision making in January 2022, which rule out or restrict capacity for certain types of programmes or initiatives that are not in line with our broader goals.
These include a commitment to not providing any new capacity to the operation or construction of: thermal coal mining, thermal coal power production, oil sands, or Arctic energy.
A prohibited risks log is also maintained, which includes programmes and entities whose activities are not aligned with TMK’s organisational goals.
CLIMATEWISE
We are active members of ClimateWise, the insurance industry initiative through which members aim to work together to respond to the myriad risks and opportunities of climate change.
TMK has representatives on the ClimateWise Insurance Advisory Council and attend the quarterly Managing Committee.
A "GOOD COMPANY"
Our guiding principle is to be a “Good Company”, with a vision to be recognised as a responsible and ethical insurer, positively influencing our culture, society and the environment.
To guide the achievement of our vision, we have aligned our approach to sustainability with eight of the UN’s Sustainable Development Goals (UN SDGs), focusing on areas where we can deliver the greatest progress through our business. These eight goals flow through activities in Underwriting, Investments and Operations.
GOOD HEALTH
AND WELLBEING
Ensure healthy lives and promote well-being for all at all ages.
GENDER EQUALITY
Achieve gender equality and empower all women and girls.
AFFORDABLE AND
CLEAN ENERGY
Ensure access to affordable, reliable, sustainable and modern energy for all.
DECENT WORK AND
ECONOMIC GROWTH
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
INDUSTRY,
INNOVATION AND
INFRASTRUCTURE
Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation.
SUSTAINABLE CITIES
AND COMMUNITIES
Make cities and human settlements inclusive, safe, resilient and sustainable.
CLIMATE ACTION
Take urgent action to combat climate change and its impacts.
LIFE ON LAND
Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss.
DRIVING INNOVATION:
Our Innovation team is harnessing our six decades of underwriting expertise in working with our clients and insurtech firms to support sustainability.
We are creating new products which support sustainable action including political risk insurance for carbon credits, and helping to extend the life of batteries to support decarbonisation. Find out more here
By incorporating sustainable practices, we can enhance our resilience, maintain long-term profitability, and contribute positively to the communities we serve.”
FOSTERING PARTNERSHIPS:
We are partnering with industry to share our 60 years of risk expertise to support the transition and address these challenges together.
We are a founding member of the Sustainable Markets Initiative Insurance Task Force, which seeks to drive sustainability across the insurance industry and its supply chains, and we are a strategic advisor on the Sherbro Alliance sustainable development in Sierra Leone.
Our Charities
We encourage and support all our employees to play an active part in fundraising activities for a wide range of charities. Our people have abseiled, run marathons, baked and fancy-dressed all in the name of raising money and awareness for a host of good causes.
In 2024, we chose The Royal Marsden Cancer Charity as our charity partner. The Royal Marsden Cancer Charity supports The Royal Marsden, a world-leading cancer centre. They provide funding for state-of-the-art equipment and ground-breaking research, ensuring nurses, doctors and research teams can provide the very best care and develop life-saving treatments.
Find out more about The Royal Marsden Cancer Charity here:
TMK employee takes part in a team abseil to raise funds for Guy's & St. Thomas' NHS Foundation Trust.
SEE OUR PREVIOUS HISTORY
RACIAL INCLUSION CHARITIES
TMK Donations: £100k TMK is focused on creating a better and more inclusive work environment for all. TMK has donated more than £100K to racial inclusion causes. This along with being a founding partner of the African-Caribbean Insurance Network (ACIN) since early 2019, supports our real commitment to become a more inclusive business.
NHS CHARITIES
TMK Donation: £250k TMK made a significant donation to NHS charities which supported young people with mental health challenges. It also helped fund a project to provide dedicated areas for respite for front line hospital staff during busy shifts and supplying iPad and video equipment, enabling patients to have video calls with their loved ones.
