Norinchukin Bank
Norinchukin Bank, officially known as The Norinchukin Bank, is a prominent financial institution headquartered in Tokyo, Japan. Established in 1923, the bank primarily serves the agricultural, forestry, and fisheries sectors, positioning itself as a vital player in Japan's cooperative finance industry. With a strong presence across major operational regions, including urban and rural areas, Norinchukin Bank offers a range of core services such as loans, investment management, and financial consulting tailored to the needs of its clients. Renowned for its commitment to supporting Japan's agricultural economy, Norinchukin Bank has achieved significant milestones, including the expansion of its international operations. The bank's unique focus on sustainable finance and community development distinguishes it in the competitive banking landscape, solidifying its market position as a trusted partner for cooperative organisations and businesses alike.
DitchCarbon Score
How does Norinchukin Bank'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
Norinchukin Bank's score of 35 is higher than 58% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Norinchukin Bank's reported carbon emissions
In 2023, Norinchukin Bank reported total carbon emissions of approximately 18,157,000 kg CO2e in Japan. This figure includes 2,658,000 kg CO2e from Scope 1 emissions, 13,216,000 kg CO2e from Scope 2 emissions, and 9,609,000 kg CO2e from Scope 3 emissions. Notably, the Scope 3 emissions breakdown reveals significant contributions from business travel (706,000 kg CO2e), employee commuting (1,316,000 kg CO2e), and purchased goods and services (309,000 kg CO2e). The bank has set ambitious climate commitments, aiming for net-zero greenhouse gas emissions from its facilities by fiscal 2030. This target encompasses both Scope 1 and Scope 2 emissions. Additionally, Norinchukin Bank has established a reduction target for its domestic power generation business, aiming to cut CO2 emissions by 9.2 million tonnes by FY2025 and 22.5 million tonnes by FY2030, representing a 46% reduction compared to FY2013 levels. In terms of performance, the bank achieved a remarkable reduction of total CO2 emissions from its portfolio by 75.25% in FY2023 compared to FY2019 levels. Furthermore, it aims to transition to 90% renewable energy for its Scope 2 electricity usage by FY2030, with a long-term goal of 100% by FY2050. Overall, Norinchukin Bank is actively working towards significant emissions reductions and a sustainable future, aligning with industry standards and climate action initiatives.
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| 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| Scope 1 | 1,389,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 20,760,000 | 00,000,000 | 0,000 | 00,000,000 |
| Scope 3 | 1,305,000 | 0,000,000 | 000 | 0,000,000 |
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.
Norinchukin Bank 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.
