Norinchukin Bank

Norinchukin Bank, a Japanese financial intermediation services provider, reported total carbon emissions of approximately 17,490,000 kg CO2e for 2024. This includes Scope 1 emissions of about 1,309,000 kg CO2e and Scope 2 emissions of approximately 13,236,000 kg CO2e. Scope 3 emissions for 2024 were reported across several categories, including business travel (703,000 kg CO2e), employee commute (1,309,000 kg CO2e), purchased goods and services (213,000 kg CO2e), waste generated in operations (11,000 kg CO2e), and fuel and energy related activities (709,000 kg CO2e).

Looking back, the bank's total emissions were approximately 18,139,000 kg CO2e in 2023 and about 20,085,000 kg CO2e in 2022. For 2021, only Scope 1 and 2 emissions were disclosed, totalling around 20,487,000 kg CO2e. In 2020, Scope 1 and 2 emissions were approximately 21,330,000 kg CO2e. The earliest reported full emissions data is for 2019, with a total of about 23,454,000 kg CO2e, comprising Scope 1 emissions of 1,389,000 kg CO2e, Scope 2 emissions of 20,760,000 kg CO2e, and Scope 3 emissions of 1,305,000 kg CO2e.

Norinchukin Bank is committed to achieving net-zero greenhouse gas (GHG) emissions from its Bank Group facilities by fiscal 2030, covering both Scope 1 and Scope 2 emissions. The bank also aims to reduce financed GHG emissions among its investees and borrowers, with an interim target for FY2030 and a long-term goal of net-zero by 2050 for all scopes. Specific targets include a reduction in financed emissions for the power sector to 138-165 gCO2e/kWh (from a 2019 base year of 213 gCO2e/kWh), and a reduction for real estate to 34.1 kgCO2e/m² (from a 2019 base year of 82.7 kgCO2e/m²). Additionally, the bank aims for zero investment and loans for coal-fired power generation by FY2040.