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 32 is higher than 52% 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, comprising 2,658,000 kg CO2e from Scope 1, 13,216,000 kg CO2e from Scope 2, and 9,609,000 kg CO2e from Scope 3 emissions. The Scope 3 emissions included significant contributions from business travel (706,000 kg CO2e) and employee commuting (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 target to reduce CO2 emissions from its domestic power generation business 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 portfolio management, Norinchukin Bank achieved a remarkable reduction of total CO2 emissions by 75.25% in FY2023 compared to FY2019 levels. Furthermore, the bank aims to transition to renewable energy for 90% of its Scope 2 electricity usage by FY2030, with a goal of reaching 100% by FY2050. Overall, Norinchukin Bank is actively working towards significant emissions reductions and sustainability initiatives, reflecting its commitment to addressing climate change.
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| 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| Scope 1 | 1,389,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 20,760,000 | 00,000,000 | 0,000 | 00,000,000 |
| Scope 3 | 1,305,000 | 0,000,000 | 000 | 0,000,000 |
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Norinchukin Bank's Scope 3 Categories Breakdown
Norinchukin Bank's Scope 3 emissions, which increased significantly last year and increased by approximately 132% since 2019, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 9% of total emissions under the GHG Protocol, with "Employee Commuting" being the largest emissions source at 42% 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.
