Sumitomo Mitsui Financial Sustainability Profile
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 83 is higher than 91% 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 (SMBC) reported total carbon emissions of approximately 1,581,000,000 kg CO2e across all scopes. This includes 2,000 kg CO2e from Scope 1 emissions, which primarily stem from mobile and stationary combustion, and 1,581,000,000 kg CO2e from Scope 3 emissions, which encompass a wide range of activities including capital goods and purchased goods and services. Notably, Scope 2 emissions were not reported for this year. SMBC has set ambitious climate commitments, aiming for net zero greenhouse gas emissions for Scope 1 and 2 by 2030. Additionally, the organisation is committed to achieving net zero emissions across its investment and loan portfolios by 2050. In the near term, SMBC has also established a target to reduce Scope 1 emissions by 55% by FY2026 compared to FY2021 levels. The company has outlined specific reduction pathways for the energy sector, targeting a reduction of oil and gas emissions by about 29% and coal emissions by approximately 60% by 2030, relative to 2020 levels. These initiatives reflect SMBC's commitment to addressing climate change and reducing its overall carbon footprint. Data on emissions and targets are sourced from Sumitomo Mitsui Financial Group, Inc., ensuring a comprehensive overview of the organisation's climate impact and commitments.
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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 | 0,000 |
| 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 |
How Carbon Intensive is Sumitomo Mitsui Financial's Industry?
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Sumitomo Mitsui Financial's Scope 3 Categories Breakdown
Sumitomo Mitsui Financial's Scope 3 emissions, which decreased by 1% last year and increased significantly since 2013, demonstrating supply chain emissions tracking. The vast majority of their carbon footprint comes from suppliers and value chain emissions, representing the vast majority of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 60% of Scope 3 emissions.
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Sumitomo Mitsui Financial'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.
Sumitomo Mitsui Financial 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.
