On October 7, 2020, Mizuho Financial Group, Inc. (President & CEO: Tatsufumi Sakai) issued a green bond.
We have strengthened our stance of advancing sustainability initiatives as an integral part of our group strategy. Based on our awareness that climate change is one of the most crucial global issues having the potential to impact the stability of financial markets, we have positioned addressing environmental issues and climate change as a key part of our corporate strategy. In May 2020, we published a TCFD(1) Report(2), becoming the first financial services group in Japan to do so.
In order to accelerate our environmental business and expand our positive impacts on the environment through finance, we have set a target for environmental finance of 12 trillion yen from FY2019 to FY2030 and are proactively advancing our initiatives. The green bond we have issued serves as a portion of funds for this environmental finance and responds to the needs of investors who have a high level of interest in the environmental field. We issue and manage green bonds based on a green bond framework we have formulated in line with the International Capital Market Association's Green Bond Principles 2018 and the Japan Ministry of the Environment's Green Bond Guidelines 2020. The framework has been reviewed with a second-party opinion from Sustainalytics, a third–party certification organization.
We will provide the funds we raise through the green bond to our subsidiary Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara), which will use them to finance environmentally friendly projects, including renewable energy ("green projects").
At Mizuho, our proactive dialogue (engagement) with clients has allowed us to develop a deep understanding of clients' challenges and needs. We will continue to provide financing support, advice, and solutions, including sustainable finance and environmental finance, for strengthening and shifting our clients' businesses towards decarbonization.
(1) Task Force on Climate–related Financial Disclosures
A task force led by representatives of the private sector, established in December 2015 based on recommendations from the Financial Stability Board in order to enhance availability of corporate information related to climate change. Issued final report (recommendations) on disclosure in June 2017.
(2) A report compiling more detailed and comprehensive information for each of the four thematic areas under the TCFD Recommendations.
|Mizuho Financial Group, Inc.
|EUR 500 million
|October 7, 2020
|Use of proceeds
|Mizuho Financial Group will provide the funds to Mizuho Bank, which will use them to finance green projects.
|This press release has been prepared for the sole purpose of publicly announcing Mizuho Financial Group's issuance of the Notes, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside Japan. This press release is not an offer of securities for sale in the United States. The Notes have not been, and will not be, registered under the Financial Instruments Exchange Act of Japan, the U.S. Securities Act of 1933 ("U.S. Securities Act"), or any other applicable securities laws. The Notes may not be offered or sold in Japan, the United States, to or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act), or in any other jurisdictions where registration is required for the offering of the Notes absent registration or an exemption from registration under the Financial Instruments Exchange Act of Japan, the U.S. Securities Act, or any other applicable securities laws. The Notes will not be publicly offered or sold in Japan or the United States.