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.
Scope 1 and 2 GHG emission results and targets
Strategy for achieving Scope 1 and 2 targets
We have completed the conversion of approximately 70% of our domestic Scope 2 electricity consumption to renewable energy, which accounted for approximately 80% of our GHG emissions in FY2022, toward becoming carbon neutral by FY2030. In the coming years, we will work to switch to renewable energy at leased properties in Japan, which requires coordination with related parties, as well as continue to study the full-scale adoption of electric vehicles and the switchover to renewable energy at overseas locations.
To address future legally mandated disclosures, we expanded the scope for Scope 1 and 2 measurements, with our FY2022 results, from the previous seven Group companies* to domestic and overseas consolidated subsidiaries and affiliates, which is the same scope as our consolidated financial reports. In conjunction with this, we will phase in expanded third-party assurances, from all Mizuho Bank branches in Japan, the previous scope, to seven Group companies in FY2022 and to the full consolidated Group scope in FY2023.
* Target / scope of data collections: Seven group companies (Mizuho Financial Group, Mizuho Bank, Mizuho Trust & Banking, Mizuho Securities, Mizuho Research & Technologies, Asset Management One, and Mizuho Americas) — note that no credits are applied to offset.
Around 70% of electricity consumptions switched to renewable energy sources (based on electricity consumption)
Promote switching to renewable energy at multiple locations
Trial adoption of electric vehicle
|Policy going forward
Handling Scope 2 emissions (Switch to renewable energy)
Handling Scope 1 emissions (Switch to electric vehicles (EVs))
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 has adopted solar cell power generation systems and LED lighting fixtures.
Principal Energy Conservation Measures
|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 2022 was 23kg.
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"
|Tokyo Carbon Reduction Plan (Japanese Text Only)
Tokyo Metropolitan Government, "The Tokyo Carbon Reduction Reporting Program"
|Tokyo Carbon Reduction Report (Japanese Text Only)
* 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:
|The Global warming strategy evaluation form (Japanese Text Only)
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:
|CO2 Emissions Reduction Plan (Japanese Text Only)
|CO2 Emissions Reduction Report (Japanese Text Only)
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.