Norinchukin Bank Sustainability Profile
Norinchukin Bank, officially known as The Norinchukin Bank, is a prominent financial institution headquartered in Tokyo, Japan. Established in 1923, the bank primarily serves the agricultural, forestry, and fisheries sectors, positioning itself as a vital player in Japan's cooperative finance industry. With a strong presence across major operational regions, including urban and rural areas, Norinchukin Bank offers a range of core services such as loans, investment management, and financial consulting tailored to the needs of its clients. Renowned for its commitment to supporting Japan's agricultural economy, Norinchukin Bank has achieved significant milestones, including the expansion of its international operations. The bank's unique focus on sustainable finance and community development distinguishes it in the competitive banking landscape, solidifying its market position as a trusted partner for cooperative organisations and businesses alike.
DitchCarbon Score
How does Norinchukin Bank's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Norinchukin Bank's score of 46 is higher than 65% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Norinchukin Bank's reported carbon emissions
In 2023, Norinchukin Bank reported total carbon emissions of approximately 18,157,000 kg CO2e. This includes Scope 1 emissions of about 2,658,000 kg CO2e, Scope 2 emissions of approximately 13,216,000 kg CO2e, and Scope 3 emissions of around 9,609,000 kg CO2e. Notably, the bank's emissions from business travel were about 706,000 kg CO2e, while employee commuting accounted for approximately 1,316,000 kg CO2e. The bank has set ambitious climate commitments, aiming for net-zero greenhouse gas emissions from its facilities by fiscal 2030. Additionally, it has established a significant reduction target for its domestic power generation business, aiming to cut CO2 emissions by 9.2 million tonnes by FY2025 and 22.5 million tonnes by FY2030, representing a 46% reduction compared to FY2013 levels. In terms of renewable energy, Norinchukin Bank plans to source 90% of its Scope 2 electricity from renewable sources by FY2030, with a goal of achieving 100% by FY2050. The bank has also reported substantial reductions in its portfolio emissions, achieving a 75.25% reduction in FY2023 compared to FY2019 levels. Overall, Norinchukin Bank is actively working towards reducing its carbon footprint and enhancing its sustainability practices in line with industry standards.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 120,634,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 |
| Scope 2 | 575,262,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | 2,640,576,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
How Carbon Intensive is Norinchukin Bank's Industry?
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Norinchukin Bank's Scope 3 Categories Breakdown
Norinchukin Bank's Scope 3 emissions, which increased by 12% last year and decreased by approximately 22% since 2017, demonstrating supply chain emissions tracking. The vast majority of their carbon footprint comes from suppliers and value chain emissions, representing the vast majority of total emissions under the GHG Protocol, with "Capital Goods" being the largest emissions source at 55% of Scope 3 emissions.
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Norinchukin Bank's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Norinchukin Bank has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
