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Sumitomo Mitsui Financial Group (SMFG), a leading Japanese financial institution, is headquartered in Tokyo, Japan, with a significant presence across Asia and other global markets. Established in 2001 through the merger of Sumitomo Bank and Sakura Bank, SMFG operates primarily within the financial intermediation services sector, excluding insurance and pension funding. Its core offerings include commercial banking, corporate finance, and asset management, distinguished by a strong focus on client-centric solutions and innovative financial products.
As one of Japan’s largest financial groups, SMFG has built a reputation for stability and comprehensive financial services, serving a diverse range of corporate and individual clients. Its strategic initiatives and robust market position underscore its role as a key player in the financial industry, both domestically and internationally.
80
DitchCarbon score
+43 vs industry average
Sumitomo Mitsui Financial’s score of 80 is higher than 87% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Very Low
Financial Intermediation is among the least carbon-intensive industries
Industry performance
0.096
20182025
The Financial Intermediation industry has reduced its overall emissions by 33% since 2018
Emissions trajectory 2020 – 2028
202020212022202320242025202620272028
Reported emissions
Scope 1
•••kg CO₂e
Scope 2
•••kg CO₂e
Scope 3
•••kg CO₂e
Total reported
•••kg CO₂e
Scope 3 accounts for ••• of total emissions.
Sumitomo Mitsui Financial's reported carbon emissions
Sumitomo Mitsui Financial's most recent disclosed emissions data shows approximately 1.73 billion kg CO2e in 2025. This total includes Scope 1 emissions of around 14 million kg CO2e, Scope 2 emissions of about 68 million kg CO2e (market-based), and Scope 3 emissions of approximately 1.65 billion kg CO2e. For 2024, the company reported total emissions of around 1.71 billion kg CO2e, with Scope 1 at about 14 million kg CO2e, Scope 2 (market-based) at approximately 102.7 million kg CO2e, and Scope 3 at roughly 1.58 billion kg CO2e. In 2023, total emissions were around 1.75 billion kg CO2e, comprising Scope 1 emissions of about 15 million kg CO2e, Scope 2 (market-based) emissions of approximately 149.3 million kg CO2e, and Scope 3 emissions of about 1.6 billion kg CO2e.
As a financial intermediation services company based in Japan, Sumitomo Mitsui Financial Group has set several climate commitments. It aims for net-zero greenhouse gas (GHG) emissions across its business activities (Scope 1 and 2) by 2030. Furthermore, the company is committed to achieving net-zero emissions across its overall investment and loan portfolios by 2050. Specific near-term absolute reduction targets include a 40% decrease in Scope 1 emissions by fiscal year 2026 (compared to fiscal year 2022) and a 55% decrease in Scope 2 emissions by fiscal year 2027 (compared to fiscal year 2022). For its energy sector investments, the group targets a reduction in GHG emissions from oil and gas by about 29% and from coal by about 60% by 2030, compared to 2020 levels. In addition, the company aims to reduce electricity consumption intensity by 19% by fiscal year 2030 compared to fiscal year 2009.
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Sumitomo Mitsui Financial’s Climate Goals (2030 & 2050)
2025
Near-zero scope 1 & 2
Target to achieve near-zero emissions for direct operations and purchased energy
On track94%
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
At risk48%
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
Behind target22%
Showing SBTi-validated targets only. Sign up or sign in to see all disclosed climate targets.
Scope 3 top emissions categories
7 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives
Science Based Targets Initiative
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Not active
Carbon Disclosure Project
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Active
The Climate Pledge
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Not active
UN Global Compact Climate Champions initiative
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Not active
RE 100
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Not active
Climate Action 100
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Not active
Emissions comparison with industry peers
View similar organisationsCompanyCountryIndustryLast updatedScoreDetails
Sumitomo Mitsui Financial1 month ago
80
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