Tokio Marine, one of Japan's leading insurance companies, has made a groundbreaking move by establishing Tokio Marine GX (TMGX), a specialized business unit dedicated to covering the risks associated with low-carbon industries. This includes providing insurance for emerging green technologies like hydrogen, fuel cells, electric vehicles, and floating solar projects. With a bold target of reaching $1 billion in revenue by 2030, TMGX aims to support the transition to a low-carbon future. Fraser McLachlan, the chair of TMGX, emphasized the unit's commitment to exploring new technologies and innovative ways of managing risk. By offering services such as tax credit insurance and surety guarantees, TMGX plans to reduce risks for lenders and make green projects more appealing to investors and banks. This approach not only promotes sustainable investments but also contributes to job creation and economic growth, particularly in the green industry sector. The launch of TMGX comes at a crucial time for the insurance industry, marked by instability and challenges such as rate hikes and companies withdrawing from disaster-prone regions. TMGX's proactive stance towards de-risking the clean energy transition has been met with positivity and excitement, as it represents a shift towards a more sustainable and resilient economy. The unit's focus on unlocking commercial opportunities in underserved sectors and promoting a greener world has garnered praise from industry experts and stakeholders. With a team of 50 staff and a solid revenue base from its renewable energy arm, GCube, TMGX is well-positioned to offer substantial coverage for various risks in the green industry. Overall, Tokio Marine GX's initiative symbolizes a step forward in the insurance industry's contribution to environmental sustainability and the global effort towards a low-carbon future. By backing green technologies and infrastructure, TMGX is not only mitigating risks but also catalyzing positive change in the insurance sector and beyond.