Mizuho Financial Group, Inc. (President & Group CEO: Tatsufumi Sakai) has joined the Net-Zero Banking Alliance (NZBA),1 an international initiative between banks aiming to align their lending and investment portfolios with net-zero greenhouse gas emissions by 2050.
In line with our policy of positively contributing to the achievement of a low-carbon society (achieving net-zero greenhouse gas emissions) by 2050 and of undertaking transformation to a portfolio aligned with the targets in the Paris Agreement, we have committed to setting medium- to long-term targets for greenhouse gas emissions from financing and investment (Scope 3) by the end of FY2022, and we are working toward measuring our greenhouse gas emissions and establishing medium- to long-term targets.
In joining the NZBA, we will set medium- to long-term science-based targets, formulate action plans, and advance disclosures on our progress while also strengthening the following initiatives:
- facilitating the necessary transition in the real economy by prioritizing client engagement and by proactively developing and offering financial products and services to support clients' climate change countermeasures and transition to a low-carbon society;
- supporting transition initiatives in line with science while giving consideration to associated social impacts; and
- supporting innovation, and providing financial services for solutions that work toward realizing a low-carbon society.
We will proactively fulfil our role as a financial services group in the effort to achieve a low-carbon society and to positively contribute to the development of a climate change resilient society by 2050.
1. NZBA was established in April 2021 by the United Nations Environment Program Finance Initiative (UNEP FI).