Climate Change Data

Musashino Bank

Climate Impact & Sustainability Data (2022, 2023)

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:6550 tCO2e/year (2021, Scope 1+2)
Scope 1 Emissions:773 tCO2e/year (2021)
Scope 2 Emissions:5777 tCO2e/year (2021)

ESG Focus Areas

  • Corporate Governance
  • Sustainable Regional Economy
  • Social Wellbeing
  • Climate Change
  • Biodiversity

Environmental Achievements

  • Reduced CO2 emissions by 19.9% from fiscal 2013 to fiscal 2021 (Scope 1 + Scope 2)

Social Achievements

  • Provided ¥2.41 million in subsidies to 17 organizations through the Musashino Bank Green Fund public trust in 2022
  • Established the Sustainability Promotion Office in March 2022 to manage and promote sustainability initiatives.

Governance Achievements

  • Endorsed the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) in September 2021
  • Formulated four policies for promoting sustainability management in December 2021 (Basic Policy on Sustainability, Environmental Policy, Investment and Financing Policy, Human Rights Policy)
  • Established the Sustainability Promotion Committee in September 2021

Climate Goals & Targets

Medium-term Goals:
  • Reduce CO2 emissions by 70% from fiscal 2013 levels by 2030
  • Execute a cumulative total of ¥1 trillion in sustainable finance transactions from fiscal 2021 to fiscal 2030

Environmental Challenges

  • Climate change
  • Maintaining and improving biodiversity
Mitigation Strategies
  • Set a CO2 emission reduction target of 70% from fiscal 2013 levels by 2030
  • Set a target of ¥1 trillion in sustainable finance transactions over 10 years (fiscal 2021-2030)
  • Engaging in initiatives to promote further greenery in the region and utilizing a public trust scheme for biodiversity

Supply Chain Management

Responsible Procurement
  • Avoid financing industrial and corporate sectors that have a negative impact on environmental, social, and economic sustainability

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: TCFD

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:5,608 tCO2e/year (Scope 1+2 in 2023)
Scope 1 Emissions:684 tCO2e/year (2023)
Scope 2 Emissions:4,924 tCO2e/year (2023)
Scope 3 Emissions:6,113,689 tCO2e/year (estimated based on loan portfolio)
Renewable Energy Share:100% at Head Office and Administrative Center (May 2024)

ESG Focus Areas

  • Climate Change
  • Biodiversity
  • Sustainable Regional Economy
  • Human Rights
  • Corporate Governance

Environmental Achievements

  • Reduced CO2 emissions (Scope 1 + Scope 2) by 31.4% from fiscal 2013 to fiscal 2023.
  • Converted all electricity used at the Head Office and Administrative Center to renewable energy (May 2024), expecting to reduce 2,311 tons of CO2 emissions annually.
  • Introduced Nissan Sakura EVs to its sales vehicle fleet (November 2023).

Social Achievements

  • Provided ¥2.96 million in subsidies to 18 organizations through the Musashino Bank Green Fund public trust (April 2024).
  • Signed a comprehensive alliance agreement on biodiversity preservation with Ecosystem Conservation Society—Saitama (May 2024).
  • Provided environmental education for employees through Ecology College.

Governance Achievements

  • Established a Sustainability Promotion Committee chaired by the president and a Sustainability Subcommittee.
  • Established the Sustainability Promotion Office to manage and promote initiatives.
  • Implemented ESG Evaluation Sheet as a dialogue tool to assist business operators in their ESG and decarbonization activities.

Climate Goals & Targets

Long-term Goals:
  • Achieve carbon neutrality by 2050
Medium-term Goals:
  • Reduce CO2 emissions (Scope 1 + Scope 2) by 70% from fiscal 2013 levels by fiscal 2030.

Environmental Challenges

  • Reducing greenhouse gas emissions to meet the 70% reduction target by fiscal 2030 from fiscal 2013 levels.
  • Assessing environmental risks in the loan portfolio and encouraging companies to realize decarbonization.
Mitigation Strategies
  • Adopting LEDs at branches, converting to energy-efficient air conditioning, and reducing electricity consumption.
  • Promoting sustainable finance and setting targets for sustainable finance transactions.
  • Implementing an investment and financing policy that considers climate change risk, including tightening credit for coal-fired thermal power plants.

Supply Chain Management

Climate-Related Risks & Opportunities

Opportunities
  • Promoting environmental finance and investing in projects that contribute to sustainability.

Reporting Standards

Frameworks Used: TCFD

Certifications: JHEP (Japan Habitat Evaluation and Certification Program)

Sustainable Products & Innovation

  • SDGs Friends Loan
  • Blue-chip Company Sustainable Fund
  • Sustainability-linked loans
  • Sustainability framework loans
  • online-only bank accounts
  • housing loans that support the purchase of sustainable housing