TOKYO -- Dai-ichi Life Insurance will aim to reduce carbon dioxide emissions from its investment portfolio by 30% by 2025, a potentially trend-setting step by one of Japan's top institutional investors.
The insurer, which manages 36 trillion yen ($337 billion) in assets, plans 700 billion yen in sales by fiscal 2023 to reduce its holdings in carbon-heavy companies. It is Japan's first institutional investor with a medium-term target for emissions cuts, though others including Nippon Life Insurance have set longer-term goals.
