June 15, 2023
Mizuho Financial Group, Inc.
Publication of TCFD Report -Climate-related Report- 2023
Mizuho Financial Group, Inc. (President & CEO: Masahiro Kihara) published today its TCFD Report -Climate-related Report- 2023, a comprehensive and detailed account of its initiatives related to climate change in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
At Mizuho, we have supported the intent and aims of the TCFD Recommendations since 2017. Based on our awareness that climate change is one of the most crucial global issues with 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, and we are endeavoring to strengthen our initiatives. In FY2020, we became the first financial services group in Japan to publish a TCFD Report, and this is the fourth year we have published the report.
Major progress in our climate action initiatives in the previous fiscal year was disclosed in the report "FY2022 Sustainability Progress -Initiatives addressing Climate Change-"1 in April 2023. In the TCFD Report 2023, we additionally discloses the following information:
- Components of the Net Zero Transition Plan (pp. 22–24 of the report)
- Revision to the executive compensation system (pp. 18–19)
- Sophistication of scenario analysis of transition/physical risks (pp. 51–58)
- Wider scope of financed emissions (GHG emissions associated with financing and investment) measurement (pp. 72–76)
Under our newly defined purpose: "Proactively innovate together with our clients for a prosperous and sustainable future," Mizuho will mobilize the full potential of our group and work with various stakeholders to meet the challenge of reaching the net zero goal by 2050.
Link to the TCFD Report -Climate-related Report-
1 Press release dated April 3, 2023: "Addressing Climate Change – FY22 progress & strengthening initiatives"
Highlights of TCFD Report -Climate-related Report- 2023
(Mainly progress from last year's TCFD Report)
*1 CSuO: Chief Sustainability Officer
*2 Total accumulated financing amount of FY2019–FY2030
*3 Sustainability transformation
*4 The Environmental and Social Management Policy for Financing and Investment Activity
*5 Reduction vs. FY2019