Sompo launches new environmental strategy

Sompo Holdings  has launched a new sustainability strategy called “SOMPO Earth Positive Actions,” expanding its previous climate-focused framework to address climate change, biodiversity, and the circular economy through what it describes as a “synergy approach.”

The Japanese insurer said the strategy aims to support both environmental progress and the group’s long-term growth, while maintaining its target of achieving net-zero emissions by 2050.

The initiative is built around three focus areas: regional action, global engagement, and environmental talent development. Planned initiatives include disaster prevention programs, decarbonization support for regional businesses, collaboration with the World Business Council for Sustainable Development on physical climate risks, and the development of circular models for damaged vehicles.

Sompo said approximately 70,000 employees across the group will work with customers, business partners, and local communities to implement the strategy. The company added that it plans to establish specific KPIs and monitor progress over time.

Sompo described “SOMPO Earth Positive Actions” as the core of its new materiality framework.