Sumitomo Mitsui Financial

Sumitomo Mitsui Financial Group (SMFG), headquartered in Japan and operating in financial intermediation services, except insurance and pension funding services, is committed to substantial carbon emission reductions and achieving net-zero targets.

For its reporting year 2025, SMFG reported combined Scope 1 and 2 emissions of approximately 82,000,000 kg CO2e. In 2024, these combined emissions were approximately 103,000,000 kg CO2e, a reduction from approximately 152,000,000 kg CO2e in 2023 and approximately 180,000,000 kg CO2e in 2022. Scope 3 emissions were reported at approximately 22,112,000 kg CO2e for the reporting year 2024, with business travel and employee commute being significant categories. In 2020, Scope 3 emissions were approximately 40,053,000 kg CO2e, with business travel as a major contributor.

SMFG has set a target to achieve net zero GHG emissions for its business activities (Scope 1 and 2) by 2030. Furthermore, the group aims for net zero emissions across its investment and loan portfolios by 2050. In a near-term initiative, SMFG plans a 55% reduction in Scope 1 and 2 emissions by FY2026 compared to FY2021. There are also specific targets for the energy sector, aiming to reduce oil and gas emissions by about 29% and coal by about 60% by 2030, compared to 2020 levels. The company is also working towards a 40% decrease in Scope 1 emissions by FY2026 from FY2022, and a 55% decrease in Scope 2 emissions by FY2027 from FY2022. SMFG is committed to aligning with customers' goals of carbon neutrality by 2050, indicating a focus on Scope 3 downstream emissions. Earlier intensity targets included reducing electricity consumption intensity by 19.0% by 2030 compared to 2009.