Mizuho Financial Group, Inc. (President & Group CEO: Tatsufumi Sakai) and our group companies (collectively, "Mizuho") recognize that CSR initiatives help contribute to the sustainable development of society and provide a platform for creating and advancing our corporate value, and therefore we have positioned CSR initiatives as a pillar of our corporate conduct and are proactive in implementing these initiatives.
We are actively strengthening our efforts to interpret changes in the surrounding environment for our clients and society as a whole in the context of medium– to long–term risk and opportunity. This will enable us to provide optimal solutions to social issues, such as those identified in the United Nations' sustainable development goals (SDGs). By drawing on Mizuho’s full capabilities in order to contribute to the sustainable development of society in this manner, we will also enhance our corporate value.
In particular, we are focusing on promoting products and services which contribute to solving environmental and social issues, for example by financing renewable energy businesses, revitalizing local economies, and supporting innovative startups to grow their businesses. Additionally, we are strengthening our stance on responsible investing and financing from a risk management perspective.
Some of the ways in which we have already been focusing on responsible investing and financing include our subsidiary Mizuho Bank, Ltd. applying the Equator Principles in relation to the financing of large–scale development projects, and our subsidiaries Mizuho Trust & Banking Co., Ltd. and Asset Management One Co., Ltd. putting an emphasis on stewardship responsibilities.
As part of our commitment to further strengthening our stance on responsible investing and financing, we are announcing the establishment of Policies on Specific Industrial Sectors (PSIS), which takes into account our existing Policies for Environmental Initiatives as well as our Human Rights Policy, which was established in April of this year.
The PSIS affirm our commitment to considering risks such as environmental and social risks when engaging in business with clients in certain industries (such as weapons, coal–fired power generation, palm oil, and lumber) where there is a high possibility that our involvement with the client could contribute to adverse environmental or social impacts. We will determine whether to extend credit or assist with capital raising for such clients after confirming the measures which the client is taking to avoid or mitigate such risks, and other due diligence as appropriate based on the characteristics of the services we are providing.
Additionally, Mizuho Bank, Ltd., Mizuho Trust & Banking Co., Ltd., Mizuho Securities Co., Ltd., and Mizuho Americas LLC have put in place an operational framework for implementing the PSIS which will be in effect from June 15, 2018.