Mitsubishi Ufj Financial

Mitsubishi UFJ Financial's Carbon Emissions & Climate Commitments

In 2024, Mitsubishi UFJ Financial reported total Scope 1, 2 (market-based), and 3 emissions of approximately 3.65 billion kg CO2e. This included Scope 1 emissions of about 26.8 million kg CO2e, Scope 2 (market-based) emissions of approximately 132.6 million kg CO2e, and Scope 3 emissions of roughly 3.49 billion kg CO2e. Key categories within Scope 3 included capital goods (about 844.4 million kg CO2e), business travel (about 73.9 million kg CO2e), and purchased goods and services (approximately 2.58 billion kg CO2e).

Looking back, the company's total Scope 1, 2 (market-based), and 3 emissions in 2023 were about 1.6 billion kg CO2e, with Scope 1 at roughly 27.4 million kg CO2e, Scope 2 (market-based) at around 148 million kg CO2e, and Scope 3 at approximately 1.43 billion kg CO2e.

Climate Commitments and Targets:

Mitsubishi UFJ Financial is committed to achieving net-zero greenhouse gas (GHG) emissions from its own operations (Scope 1 and 2) by 2030, a commitment reiterated across several documents including their 2022 Sustainability Report and 2023 TCFD report.

For Scope 1 and 2 emissions, the company has set an interim target to reduce absolute emissions by 22% by 2030, against a 2019 baseline. Furthermore, a target exists to reduce Group and global emissions by 50% by fiscal year 2026, relative to a 2020 baseline. Domestically, a 66% reduction in Scope 1 emissions is targeted by fiscal year 2025, also against a 2020 baseline.

Regarding Scope 3 emissions, Mitsubishi UFJ Financial aims to reduce the absolute volume of CO2 emissions by 15% to 28% by the end of 2030, from a 2019 level. They also have a long-term goal of achieving net-zero GHG emissions from their financed portfolio by 2050.