Japan’s Dai-ichi Life Insurance Company joins the United Nations-convened Net-Zero Asset Owner Alliance, to become the first member based Asia.
With assets under management (AUM) of $379 billion, Dai-ichi becomes the 35th member of the fast-growing Alliance, which has total AUM of $5.6 trillion.
By joining the Alliance, the company commits to reducing greenhouse gas emissions from its investment portfolio to net-zero by 2050, and aims to transition to a portfolio consistent with the Paris Agreement’s objective of limiting the post-industrial average temperature rise by less than 1.5°C.
Kazuyuki Shigemoto, Executive Officer, Dai-ichi Life Insurance said:
“As an asset owner that manages assets of 36 trillion yen, sourced from insurance premiums of approximately 10 million customers throughout Japan, the company has already been proactively expanding and furthering initiatives for ESG investments.
“By joining the Net-Zero AOA, we commit to reducing greenhouse gas emissions from our investment portfolio to net-zero by 2050, and set the target of reduced greenhouse gas emissions by 2025 to limit the global warming consistent with the Paris Agreement’s goal.”
Günther Thallinger, Chair of the Alliance and Member of the Board of Management of Allianz SE said:
“The UN-convened Net-Zero Asset Owner Alliance is very pleased to welcome Dai-ichi Life Insurance as its first Asian member. We expect Dai-ichi to be the first of many new members from the region, as the imperative to reduce portfolio emissions builds into a truly global movement.”
The Net-Zero Asset Owner Alliance looks forward to welcoming additional members from Asia after the UN Secretary General Antonio Guterres said the Alliance is the “gold standard’ for net-zero initiatives.
The Secretary-General emphasized expanding the engagement of investors particularly in Asian countries with governments that have committed to carbon neutrality. In October 2020, Japan committed to net-zero emissions by 2050.
About the UN-convened Net-Zero Asset Owner Alliance
Convened by UNEP FI and the Principles for Responsible Investment, and supported by Global Optimism and the WWF’s Finance Practice, the Net-Zero Asset Owner Alliance is an international group of 34 institutional investors with total AUM of $5.5 trillion, delivering on a bold commitment to transition our investment portfolios to net-zero GHG emissions by 2050. The Alliance shows united investor action to align portfolios with a 1.5°C scenario, addressing Article 2.1c of the Paris Agreement. The Alliance is part of the UNFCCC Race to Zero campaign.
About Dai-ichi Life Insurance Company
Japan-based Dai-ichi Life Insurance Company provides pension insurance, life insurance, health insurance, medical insurance, property insurance, and other services.
Media contact: Oliver Wagg; oliver.wagg@un.org