Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara) concluded a Mizuho Eco Finance* services agreement with Idemitsu Kosan Co., Ltd. (Representative Director, President & CEO: Shunichi Kito), and began providing the services today.
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 assessment-based financial product through which we take action alongside our clients to advance the shift to a low-carbon society. The financing provided by Mizuho Bank is linked to the achievement of a certain minimum score under the environmental assessment model developed by Mizuho Information & Research Institute, Inc., which scores clients’ initiatives and benchmarks based on globally trusted environmental accreditation and assessment criteria among other factors.
This is Mizuho Bank’s 15th Mizuho Eco Finance deal, bringing our total financing under this initiative to JPY 555.3 billion.
Mizuho has evaluated Idemitsu Kosan highly based on the high levels achieved on our environmental evaluation model, which included factors such as Idemitsu Kosan’s endorsement of the Task Force on Climate-related Financial Disclosures in February 2020, disclosure of the CO2 emissions for their entire supply chain for each fiscal year, and their 2030 targets for reducing CO2 emissions.
At Mizuho, we are strengthening our initiatives (“Sustainability Action”) toward realizing a sustainable society, including responding to climate change and the transition to a low-carbon society. 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.
*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