Enterprise Risk Management: Focused on management activities. These activities include pricing Climate Change and underwriting group insurance cases, diversifying Through a focused enterprise risk management and monitoring the investment and commercial program, The Standard identifed current and mortgage portfolio, testing reserve adequacy and anticipated risks that climate change poses to our improving the effciency and sustainability of business company. As our core products are life and disability operations. insurance, The Standard is not directly exposed to the potential physical effects of climate change in the same Meiji Yasuda Group Sustainability Policy Meiji Yasuda Life Insurance Company, the parent way as, for example, a property and casualty insurer. organization of The Standard, adopted a group However, we do business across the United States and sustainability policy centered on our shared goals there are many indirect risks associated with climate for stewardship and corporate citizenship. The change including: policy specifcally expresses our commitment to a • I ncreased mor tality sustainable society through efforts to strengthen • I ncreased mor bidity local communities, support diverse and respectful • workplaces, combat climate change and conduct Pressure on the businesses of our customer base business ethically. • Property damage or property value degradation due to severe weather • Regulatory, litigation, competitiveness and reputational risks to the investments we purchase • General operations risks — scarce energy, IT systems failures, workforce planning and business continuity The Standard employs a process for identifying risks related to climate change and assessing the degree to which climate change could affect our business, including fnancial implications. The company incorporates the study of economic, demographic and environmental trends — all of which may be affected by climate change — in its regular enterprise risk 2022 Environmental, Social and Governance Report 22