Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara) today concluded a Mizuho Eco Finance1 services deal with Furukawa Electric Co., Ltd. (President and Representative Director: Keiichi Kobayashi).
At Mizuho, our proactive dialogue/engagement with clients has allowed us to develop a deep understanding of our clients’ challenges and needs. We actively provide a diverse range of solutions to support clients’ SDG and ESG-related initiatives and innovations.
Mizuho Eco Finance is an environmental evaluation and financing product designed to allow us to work together with clients toward a low-carbon society. Through this product, Mizuho provides financing to clients who meet a certain minimum score based on our scoring system, which utilizes an environmental assessment model developed by Mizuho Information & Research Institute, Inc. to evaluate client initiatives and benchmarks via a globally accepted environmental verification and evaluation program.
This is Mizuho Bank’s 13th Mizuho Eco Finance deal, bringing our total financing under this initiative to JPY 548.3 billion.
Mizuho has recognized Furukawa Electric for its environmental initiatives, which include obtaining approval for its Science Based Target2 initiatives in August 2019, becoming a supporter of the Task Force on Climate-related Financial Disclosures in January 2020, disclosing the CO2 emissions from its entire supply chain, and its aim to achieve net-zero emissions over the long term as a contribution to the transition toward a low-carbon society.
At Mizuho, we will draw on our expertise as a financial services group to proactively provide financing support, including sustainable finance and environment finance, as well as advice and solutions for strengthening and shifting businesses towards decarbonization.
1: Mizuho Eco Finance:
See our press release dated June 28, 2019: “Announcing the launch of Mizuho Eco Finance” https://www.mizuhogroup.com/information-and-research/news/2019/06/announcing-the-launch-of-mizuho-eco-finance.html
2: Science Based Targets (SBT):
An initiative which encourages companies to engage in science-based target setting for the reduction of greenhouse gas emissions in order to meet the goals established in the Paris Agreement.