Norinchukin Bank

The Norinchukin Bank, headquartered in Japan and operating within financial intermediation services, has established comprehensive climate commitments and disclosed its carbon emissions.

For the reporting year 2022, the bank reported total emissions of approximately 299.18 million kg CO2e. This figure includes Scope 1 emissions of approximately 1.37 million kg CO2e, Scope 2 emissions of approximately 15.53 million kg CO2e, and Scope 3 emissions totalling approximately 282.27 million kg CO2e. Within Scope 3, significant contributors included business travel (about 0.69 million kg CO2e), employee commute (approximately 1.29 million kg CO2e), and purchased goods and services (about 0.31 million kg CO2e).

The Norinchukin Bank has set ambitious targets to address its climate impact. It aims to achieve net-zero GHG emissions from its own facilities by fiscal year 2030. Furthermore, the bank is committed to a long-term goal of achieving net-zero GHG emissions by fiscal year 2050. In line with these goals, the bank is working to reduce financed GHG emissions among its investees and borrowers, with an interim target of net zero by 2050. It also has a target to reduce investment and loans for coal-fired power generation to zero by FY2040.

The bank's sustainability reports, including those from 2024 and 2025, detail these commitments and provide sector-specific emissions reduction efforts for areas such as power, oil and gas, steel, real estate, automobiles, marine transport, and its investment portfolio. The Norinchukin Bank's approach is to integrate climate considerations into its financing and investment activities, aiming for a sustainable financial sector.