Mitsubishi UFJ Financial Group, Inc.
Climate Impact & Sustainability Data (2024)
Reporting Period: 2024
Environmental Metrics
ESG Focus Areas
- Sustainable Society
- Vibrant Society
- Resilient Society
Environmental Achievements
- Roadmap to net-zero emissions by 2030 and measures to achieve the interim target for FY2026
- Setting 2030 interim targets for the automotive, aviation, and coal sectors to meet commitments under NetZero Banking Alliance (NZBA) guidelines
- Raised sustainable finance target from 35 trillion yen to 100 trillion yen by 2030
- Reducing GHG emissions from own operations to net-zero by 2030
Social Achievements
- Launched JIVL, a startup acceleration program
- Opened MUIC Kansai, a membership-based innovation center in Osaka
- Online service to assist with inheritance procedures
- Expanding services to include trust products for testaments and gifts
Governance Achievements
- Established a system to properly manage climate change-related risks based on the Risk Appetite Framework and Top Risk Management
- Established an effective decision-making governance structure with carbon-neutral-related meeting bodies under the supervision of the Board of Directors
- Reflect evaluation of ESG and sustainability initiatives, including climate change measures, in the executive compensation system
Climate Goals & Targets
Long-term Goals:
- Achieve carbon neutrality by 2050
Medium-term Goals:
- Achieve net-zero emissions by 2030 for own operations
- Achieve 2030 interim targets for GHG emissions in five sectors (Power, Oil & Gas, Real Estate, Steel, and Shipping)
- Raise the market cap of startups supported to ¥20 trillion by FY2026
- Achieve 30% ratio of women in management positions by FY2030
Short-term Goals:
- Achieve interim target for FY2026 for reducing emissions from own operations
Environmental Challenges
- Achieving carbon neutrality by 2050 requires decarbonizing the real economy through client engagement and support
- Decarbonization pathways depend on regional characteristics
- Balancing decarbonization and economic development, particularly in Asia
- Managing transition support and target achievement
Mitigation Strategies
- Developed its own transition plan based on the Transition Plan Guidance published by GFANZ
- Published the “MUFG Climate Report 2024” to showcase progress
- Established a system to properly manage climate change-related risks
- Established an effective decision-making governance structure
Supply Chain Management
Responsible Procurement
- Approach to Purchasing Activity
- Guidelines for Purchasing Activity
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: TCFD, TNFD