Mitsubishi Ufj Financial

Mitsubishi UFJ Financial Group (MUFG), a financial intermediation services provider headquartered in Japan, has reported significant carbon emissions and established ambitious climate commitments.

Carbon Emissions Data:

• 2024: MUFG reported total Scope 1 and 2 emissions of approximately 159.4 million kg CO2e (market-based). Scope 3 emissions for this year were approximately 3.5 billion kg CO2e, with the largest contributions from purchased goods and services (about 2.6 billion kg CO2e) and capital goods (about 844.4 million kg CO2e).
• 2023: Total Scope 1 and 2 emissions were approximately 175.4 million kg CO2e (market-based). Scope 3 emissions totalled about 1.4 billion kg CO2e, with capital goods accounting for the largest portion (approximately 855 million kg CO2e).
• 2022: Scope 1 and 2 emissions were approximately 189.4 million kg CO2e (market-based). Scope 3 emissions were around 1.15 billion kg CO2e, driven by capital goods (approximately 574 million kg CO2e) and purchased goods and services (approximately 551 million kg CO2e).
• 2021: Scope 1 and 2 emissions reached approximately 231.7 million kg CO2e (market-based). Scope 3 emissions were significantly lower at approximately 74,000 kg CO2e, primarily from business travel.
• 2020: Scope 1 and 2 emissions amounted to approximately 336.2 million kg CO2e (market-based). Scope 3 emissions were reported as approximately 5,000 kg CO2e, mainly from business travel.
• 2019: Scope 1 and 2 emissions were approximately 194 million kg CO2e (market-based). Scope 3 emissions were approximately 7.96 million kg CO2e.
• 2018: Scope 1 and 2 emissions totalled approximately 197.7 million kg CO2e (market-based). Scope 3 emissions were approximately 10.3 million kg CO2e.
• 2017: Scope 1 and 2 emissions were approximately 224.4 million kg CO2e (market-based). Scope 3 emissions were approximately 10.6 million kg CO2e.
• 2016: Total emissions were approximately 209.7 million kg CO2e, with Scope 1 at about 11.4 million kg CO2e and Scope 2 at about 212.3 million kg CO2e. Scope 3 emissions were approximately 11.5 million kg CO2e.
• 2015: Total emissions were approximately 232.7 million kg CO2e, comprising Scope 1 at about 11.3 million kg CO2e and Scope 2 at about 209.6 million kg CO2e. Scope 3 emissions were approximately 11.8 million kg CO2e.

Climate Commitments and Reduction Targets:

MUFG has made a clear commitment to achieving net-zero emissions. Key targets include:

• Net Zero Operations: MUFG aims to achieve net-zero greenhouse gas (GHG) emissions from its own operations by 2030. This target applies to Scope 1 and 2 emissions.
• Absolute Emissions Reduction: The company has set an interim target to reduce absolute GHG emissions by 22% by 2030 from the 2019 level for its Scope 2 emissions. Similar reductions are targeted for Scope 1 emissions. Furthermore, they aim for a 15% to 28% reduction in the absolute volume of CO2 emissions by the end of 2030, also from the 2019 level.
• Financed Portfolio Net Zero: MUFG is committed to achieving net-zero GHG emissions across its financed portfolio by 2050.
• Interim Reductions: Historical data indicates a commitment to a 32% reduction in absolute GHG emissions from a FY13 baseline by FY20. Additionally, there was a target to reduce Group and global emissions by 50% by fiscal 2026. A specific target for domestic emissions reduction is 2/3 by fiscal 2025.

MUFG's climate strategy is guided by its Carbon Neutral Declaration released in May 2021. The company is actively working towards these targets, with some initiatives showing positive progress towards near-term goals.