Addressing climate change

Mizuho is moving ahead with efforts to address climate change by periodically assessing the energy consumption of the entire Group, setting CO2 emissions reduction targets and devising energy consumption reduction strategies centered on electric power consumption.

CO2 Emissions Reduction Initiatives

Over 90% of the CO2 emissions related to Mizuho's business activities arise from electricity consumption.

Mizuho has set a medium- to long- term CO2 emissions reduction target and is promoting energy conservation measures centered on electric power. 

In April 2022, Mizuho revised the domestic and overseas targets for greenhouse gas emissions (Scope 1 and 2) of its seven group companies and moved up the deadline for achieving carbon neutrality from FY2050 to FY2030.

In the years to come, Mizuho will facilitate energy conservation measures centered on electric power conservation.
 

Target for GHG emissions in and outside Japan (Scope 1 *and 2*)

Target for GHG emissions from seven group companies**:
Carbon neutral by FY2030 (Carbon neutrality to be maintained thereafter)

* Scope 1: Direct CO2 emissions and energy usage
* Scope 2: Indirect CO2 emissions and energy usage
** Mizuho Financial Group, Mizuho Bank, Mizuho Trust & Banking, Mizuho Securities, Mizuho Research & Technologies, Asset Management One, and Mizuho Americas.
 

Changes in CO2 emissions at Mizuho

Graph: Changes in CO2 Emissions at Key Business Facilities

Close up

Further Information

Sustainability Targets and KPIs
ESG Data Book (Mizuho's energy consumption, Mizuho's CO2 emissions)

Strategy for achieving Scope 1 and 2 targets

Emissions from electricity usage in Japan account for approximately 80% of CO2 emissions across the seven group companies (Scope 2 emissions). As a first step towards achieving our targets, we will proceed with gradually shifting our power contracts in Japan to renewable energy, giving priority to our large-scale contract properties. Furthermore, regarding properties that a group company occupies as a tenant, we will aim to shift power contracts to those that are in effect using renewable energy options by approaching the topic with the owner. At the same time, we will consider the introduction of corporate power purchase agreements.

We will also continue to consider methods that can directly reduce Scope 1 emissions, such as the adoption of electric vehicles.

While a number of our offices outside of Japan are already making use of renewable energy, we will press forward with the shift to renewable energy using available methods in accordance with the local conditions at each individual office.

Progress

Switch to renewable energy

  • Considering how to make use of renewable energy in order to revise targets.
  • Adopting renewable energy at some offices in Japan.
  • Switching to renewable energy at some offices in Europe.
     
Policy going forward

In Japan

Handling Scope 2 emissions (Switch to renewable energy)

  • Gradually shift our power contracts in Japan to renewable energy.
  • In cases where Mizuho is a tenant and has not entered directly into a power contract, approach owners about shifting power contracts to renewable energy.
  • Consider / implement corporate power purchase agreements.


Handling Scope 1 emissions (Switch to electric vehicles (EVs))

  • Consider adoption of EVs.


Outside of Japan

  • Promote shift to renewable energy using available methods in accordance with the circumstances at each department, branch, and office.

 

Reduce CO2 emissions by installing and properly utilizing energy-saving equipment

To attain its CO2 emission volume reduction target, Mizuho will introduce energy–conserving facilities and take thorough measures to appropriately operate and manage those facilities and implement other energy conservation measures while also working to increase its employees' consciousness of environmental issues as a means of promoting CO2 emission reductions going forward.

In addition, based on the "Mizuho Environmental Standards" instituted with respect to the environmental friendliness of Mizuho Bank branches, Mizuho Bank is steadily expanding the number of its "Environment Friendly Branches — Mizuho Eco–Branches" equipped with solar cell power generation systems and LED lighting fixtures. Existing branches that install new equipment and renovate existing equipment based on the "Mizuho Environmental Standards" are achieving energy usage reductions of approximately 10%.

Principal Energy Conservation Measures

Facility–Related Measures
  • Introduction of such energy–conserving equipment as air conditioning equipment, LED lighting fixtures, and motion–sensor switches
  • Introduction of heat–blocking films on windows and heat–blocking curtains
  • Renovation of equipment to introduce such high–efficiency equipment as inverter–controlled cooling units
Operations–Related Measures
  • Thorough management of air conditioning temperature settings and reduction of number of air conditioning units used
  • Thinning out of lighting fixtures in hallways and elevator lobbies and improved control of those fixtures
  • Restricting the use of a portion of office automation equipment units
  • Thorough measures to ensure computer monitors are turned off when employees are away from their seats
  • Summer closures of training centers, etc., and thorough management of heating/cooling temperature settings at such facilities
  • Proactive promotion of telephone/video conferencing to reduce the number of business trips (MHBK)
Employee Consciousness–Related Measures

Promoting the adoption and operation of environment–friendly vehicles

Group companies centered on Mizuho Bank have reevaluated their low–usage–level motor vehicles, completely eliminating the use of marketing–use motorcycles and progressively reducing the number of automobiles while concurrently moving ahead with the introduction of hybrid vehicles and other low–pollution vehicles and shifting to the use of electric bicycles. The amount of NOx generated by motor vehicles operated in the Tokyo Metropolitan region by Mizuho Bank, Mizuho Trust & Banking and Mizuho Securities during fiscal 2021 was 35kg.

Going forward, plans call for moving further ahead with the introduction of electric vehicles, hybrid vehicles, and other low–pollution vehicles, while also encouraging drivers to reduce engine idling time periods, adopt other "eco–driving" techniques, and implement other measures to further reduce CO2 emission volume.

Initiatives Taken in Response to National and Local Laws, Ordinances, and Requirements

In Japan, the national government has passed the Act on the Rational Use of Energy (Energy Conservation Law), and local environmental ordinances require that business facilities emitting more than a certain level of greenhouse gases submit and disclose plans for fighting global warming. Mizuho is submitting reports for each of its facilities covered by the ordinances and is striving to reduce energy usage and the volume of CO2 emissions associated with each facility. Specifically, in line with the requirements of the Energy Conservation Law, Mizuho is working to cut back annual energy consumption per unit by 1% or more on average, and is endeavoring to attain the targets set by local governments.

Tokyo Metropolitan Environmental Security Ordinance

Based on "the Tokyo Cap–and–Trade Program" (for large facilities) and "the Tokyo Carbon Reduction Reporting Program" (for small and medium scale facilities) promoted by The Tokyo Metropolitan Government, relevant Mizuho Group companies have formulated policies for responding to global warming (climate change) and have submitted the reports shown below to the Tokyo Metropolitan Government. In addition, facilities subject to "the Tokyo Cap–and–Trade Program" have undergone third–party audits. (PDF/8,445KB) In addition for properties managed in trust, the Mizuho Group collects information and submits reports to the Tokyo metropolitan government on energy usage and greenhouse gas emissions.

Tokyo Metropolitan Government, "The Tokyo Cap-and-Trade Program"

Required Facilities Tokyo Carbon Reduction Plan (Japanese Text Only)
MHBK Administration Center FY2021 (PDF/788KB)
Information Center FY2021 (PDF/1,380KB)
MHIR* Information Center FY2021 (PDF/766KB)

 

Tokyo Metropolitan Government, "The Tokyo Carbon Reduction Reporting Program"

Required Entities Tokyo Carbon Reduction Report (Japanese Text Only)
MHBK FY2009–
MHTB FY2009–
MHIR* FY2009–

* Currently Mizuho Research & Technologies (Mizuho Information & Research Institute and Mizuho Research Institute merged on April 1, 2021.)

Mizuho submits reports on its global warming countermeasure to the government of Minato City, Tokyo, in accordance with the ordinance on the promotion of low-carbon buildings for the protection of the living environment for Minato City residents.

Saitama Prefecture, "The Global warming strategy evaluation method form"


Under "the Saitama Global warming strategy evaluation method form" in accordance with "the Saitama Prefecture Global Warming Strategy Promotion Ordinance", Mizuho submitted the evaluation method form on required facilities, including manned branches and some un-manned branches with only ATMs, in Saitama prefecture as follows:
 

Required Entity The Global warming strategy evaluation form (Japanese Text Only)
MHBK FY2020 (PDF/388KB)

City of Yokohama, Kanagawa Prefecture, "The CO2 Emission Reduction Program"

Based on the "CO2 Emissions Reduction Program" specified in the "Ordinance to Preserve the Living Environment", business facilities emitting more than a certain level of greenhouse gases are required to submit and disclose plans for preventing global warming.

Mizuho submitted the CO2 Emissions Reduction Plan and Report on required facilities in the city of Yokohama as follows:

Required Entity CO2 Emissions Reduction Plan (Japanese Text Only) CO2 Emissions Reduction Report (Japanese Text Only)
MHBK (PDF/20,271KB) FY2020 (PDF/19,198KB)
FY2019 (PDF/18,774KB)

Mizuho Bank was awarded the 2020 Yokohama Prize for Climate Change Actions in recognition of its efforts to reduce emissions between fiscal 2016 and 2018.

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