Sumitomo Mitsui Financial
Sumitomo Mitsui Financial Group, often referred to as SMFG, is a prominent financial services institution headquartered in Tokyo, Japan. Established in 2001, the company has rapidly evolved within the banking sector, primarily focusing on commercial banking, investment banking, and asset management. With a strong presence in Asia and a growing footprint in global markets, SMFG serves a diverse clientele, including individuals, corporations, and government entities. The group is renowned for its innovative financial solutions, including retail banking services, corporate financing, and wealth management. SMFG's commitment to customer-centric services and technological advancements has positioned it as a leader in the competitive financial landscape. Notable achievements include its robust capital base and consistent rankings among the top financial institutions in Japan, reflecting its stability and reliability in the industry.
DitchCarbon Score
How does Sumitomo Mitsui Financial'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
Sumitomo Mitsui Financial's score of 68 is higher than 82% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Sumitomo Mitsui Financial's reported carbon emissions
In 2024, Sumitomo Mitsui Financial reported total greenhouse gas emissions of approximately 1,030,000,000 kg CO2e, comprising 14,000,000 kg CO2e from Scope 1, 89,000,000 kg CO2e from Scope 2, and a significant 1,581,000,000 kg CO2e from Scope 3 emissions. This reflects a slight decrease in Scope 1 emissions from 15,000,000 kg CO2e in 2023, while Scope 2 emissions also decreased from 137,000,000 kg CO2e in the previous year. The company has set ambitious climate commitments, aiming for net zero greenhouse gas emissions for Scope 1 and 2 by 2030, and across its investment and loan portfolios by 2050. In terms of reduction initiatives, Sumitomo Mitsui Financial has established a target to reduce Scope 1 emissions by 55% by FY2026 compared to FY2021 levels. Additionally, they aim to decrease electricity consumption intensity by 19% by 2030 compared to 2009 levels. The company is also focused on reducing emissions from the energy sector, targeting a 29% reduction in oil and gas emissions and a 60% reduction in coal emissions by 2030, relative to 2020 levels. Overall, Sumitomo Mitsui Financial's climate strategy is aligned with industry standards, demonstrating a commitment to sustainability and significant reductions in carbon emissions across its operations.
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| 2013 | 2014 | 2015 | 2016 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 10,526,000 | 0,000,000 | 0,000,000 | 0,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 179,615,000 | 00,000,000 | 00,000,000 | 00,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | 10,050,000 | - | - | - | 00,000,000 | 00,000,000 | 000,000,000 | 0,000,000,000 | 0,000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Sumitomo Mitsui Financial is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
