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Financial Intermediation
JP
updated 4 days ago

Sumitomo Mitsui Financial

Company website

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.

77

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.

30

Industry Benchmark

Sumitomo Mitsui Financial's score of 77 is higher than 88% of the industry. This can give you a sense of how well the company is doing compared to its peers.

88%

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Sumitomo Mitsui Financial's reported carbon emissions

In 2024, Sumitomo Mitsui Financial reported total carbon emissions of approximately 1,591,000,000 kg CO2e, with emissions distributed across various scopes: 14,000,000 kg CO2e (Scope 1), 89,000,000 kg CO2e (Scope 2), and 1,581,000,000 kg CO2e (Scope 3). The previous year, 2023, saw total emissions of about 1,600,579,000 kg CO2e, comprising 15,000,000 kg CO2e (Scope 1), 137,000,000 kg CO2e (Scope 2), and 1,600,579,000 kg CO2e (Scope 3). The company has set ambitious climate commitments, aiming for net zero greenhouse gas emissions for Scope 1 and 2 by 2030, with a target of reducing emissions by 55% by FY2026 compared to FY2021 levels. Additionally, Sumitomo Mitsui Financial is committed to achieving net zero emissions across its investment and loan portfolios by 2050. In terms of specific reduction initiatives, the company plans to reduce emissions from the energy sector by approximately 29% for oil and gas and 60% for coal by 2030, compared to 2020 levels. This data is sourced from Sumitomo Mitsui Financial Group, Inc., and reflects their ongoing efforts to address climate change and reduce their carbon footprint.

Unlock detailed emissions data

Access structured emissions data, company-specific emission factors, and source documents

201320142015201620202021202220232024
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

Very low
Low
Medium
High
Very high
Some industries are more carbon intensive than others. Sumitomo Mitsui Financial's primary industry is Financial intermediation services, except insurance and pension funding services (65), which is very low in terms of carbon intensity compared to other industries.

Location emissions intensity

Very low
Low
Medium
High
Very high
The carbon intensity of the energy grid powering a company's primary operations has a strong influence on its overall carbon footprint. This request for Sumitomo Mitsui Financial is in JP, which has a low grid carbon intensity relative to other regions.

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.

Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact
RE 100
Climate Action 100
Race To Net Zero
Reduction Actions

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