Norinchukin Bank

Norinchukin Bank, a financial intermediation services provider headquartered in Japan, reported its latest carbon emissions data for 2024. The bank's total disclosed emissions in 2024 were approximately 17,490,000 kg CO2e. This included Scope 1 emissions of around 1,309,000 kg CO2e and Scope 2 emissions of about 13,236,000 kg CO2e. Scope 3 emissions for 2024 totalled approximately 2,834,000 kg CO2e, with significant contributions from employee commute (1,309,000 kg CO2e), business travel (703,000 kg CO2e), and fuel and energy-related activities (709,000 kg CO2e).

Looking back, in 2023, Norinchukin Bank's total disclosed emissions were approximately 18,139,000 kg CO2e, comprising Scope 1 emissions of about 1,409,000 kg CO2e and Scope 2 emissions of around 13,666,000 kg CO2e. In 2022, the bank reported total disclosed emissions of approximately 20,085,000 kg CO2e, with Scope 1 emissions at about 1,320,000 kg CO2e and Scope 2 emissions at approximately 15,732,000 kg CO2e.

Norinchukin Bank has set ambitious climate commitments, aiming for net-zero greenhouse gas emissions from its Bank Group facilities for both Scope 1 and Scope 2 by fiscal year 2030. The bank also has a long-term net-zero target by 2050 across all scopes, with interim targets for financed GHG emissions for various sectors by FY2030. For instance, the target for power is 138-165 gCO2e/kWh (from a 2019 baseline of 213 gCO2e/kWh), and for real estate, it's 34.1 kgCO2e/m² (from a 2019 baseline of 82.7 kgCO2e/m²). The bank also aims to reduce investments and loans for coal-fired power generation to zero by FY2040.