Mizuho shifting to renewable energy

July 22, 2022

MIZUHO Sustainability Action

Main data centers in Japan to use 100% renewable energy

Mizuho Bank, Ltd. (President & CEO: Masahiko Kato), a consolidated subsidiary of Mizuho Financial Group, Inc. (President & Group CEO: Masahiro Kihara), has shifted to using renewable energy at seven large–scale properties owned or leased by the bank in Japan. This will enable Mizuho Bank to achieve 100% renewable energy use at the bank's main data centers.

At Mizuho, we are aiming to realize a low–carbon society by 2050, and we have set a target of becoming carbon neutral for Scope 1 and 21 global greenhouse gas emissions from seven of our group companies2 by FY2030.

Emissions from electricity usage (Scope 2 emissions) in Japan account for approximately 80% of our CO2 emissions across the seven group companies. This current shift to renewable energy is one of our initiatives to reduce such emissions. The initiative focuses on large–scale properties in Japan and covers all of Mizuho Bank's main data centers, which require large amounts of power.

The main data centers are using green energy supplied directly from green power generation facilities. Other properties are using effectively renewable energy supplied from sources outside Japan's feed–in tariff system. We expect this to reduce our CO2 emissions from across the seven group companies by approximately 20%.3

As we move forward with initiatives to reduce our own greenhouse gas emissions, we will also continue to draw on our expertise as a financial services group to proactively provide financing support—including environmental finance and transition finance—together with advice and solutions for strengthening and shifting businesses towards decarbonization. In doing so, we will positively contribute to the achievement of a low–carbon society and the development of a climate change–resilient society by 2050.

1: Scope 1: Direct emissions of greenhouse gases from company–owned or company–controlled sources (such as from burning of fuel).
    Scope 2: Indirect emissions of greenhouse gases from the use of energy or similar resources provided by other parties.

2: Mizuho Financial Group, Mizuho Bank, Mizuho Trust & Banking, Mizuho Securities, Mizuho Research & Technologies, Asset Management One, and Mizuho Americas.

3: Base year: FY2019.

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