Norinchukin Bank

Norinchukin Bank's reported carbon emissions

Norinchukin Bank, headquartered in Japan and operating within financial intermediation services, is actively addressing its carbon footprint with ambitious climate commitments. For the reporting year 2022, Norinchukin Bank reported total Scope 1 and Scope 2 emissions of approximately 17,052,000 kg CO2e. Their Scope 1 emissions were approximately 1,366,000 kg CO2e, and Scope 2 emissions totalled approximately 15,526,000 kg CO2e. Scope 3 emissions for 2022 were significantly higher, amounting to approximately 290,000,000 kg CO2e. The bank has established a net-zero target for its own facilities' greenhouse gas (GHG) emissions by fiscal year 2030. Furthermore, Norinchukin Bank aims for net-zero GHG emissions across its entire organisation by fiscal year 2050. In alignment with its commitment to decarbonisation, the bank is also working towards reducing financed GHG emissions from its investees and borrowers, with an interim target set for FY2030. This broader objective includes specific emission reduction targets for key sectors such as power, oil and gas, coal, steel, real estate, automobiles, marine transport, and investments in stocks and bonds. Norinchukin Bank's sustainability reports highlight various emission factors for different commodities, including electricity and fuels, supporting its emissions calculations and reduction strategies. The organisation does not appear to cascade emissions data from a parent company; it reports its own data.