Mizuho Bank, Ltd. is a leading financial institution in Japan that operates in the banking sector. The bank was established in 2002 as a result of the merger between Dai-Ichi Kangyo Bank, Fuji Bank, and Industrial Bank of Japan. Mizuho Bank is headquartered in Tokyo and has a global presence with offices in Asia, Europe, and the Americas.
The bank is committed to sustainable development and has set ambitious goals to reduce its carbon footprint. Mizuho Bank recognizes that decarbonisation is critical to addressing climate change and is taking proactive steps to reduce its greenhouse gas emissions. The bank has set a target to reduce its carbon emissions by 30% by 2030 compared to its 2013 baseline.
To achieve this goal, Mizuho Bank is implementing a range of measures to reduce its energy consumption and increase the use of renewable energy. The bank is investing in energy-efficient technologies such as LED lighting, smart building systems, and efficient air conditioning systems. Mizuho Bank is also exploring the use of renewable energy sources such as solar and wind power to reduce its reliance on fossil fuels.
One of the key initiatives that Mizuho Bank is undertaking to reduce its carbon footprint is the implementation of corporate power purchase agreements (PPAs). A corporate PPA is a long-term contract between a company and a renewable energy supplier to purchase a fixed amount of electricity at a predetermined price. By entering into a corporate PPA, Mizuho Bank is able to secure a stable and cost-effective source of renewable energy, while also supporting the development of renewable energy projects.
Mizuho Bank has already signed several corporate PPAs with renewable energy suppliers in Japan. In 2019, the bank signed a 20-year PPA with a solar power plant in Miyagi Prefecture, which will supply the bank with 2,000 megawatt-hours of electricity per year. The bank has also signed a PPA with a wind power plant in Hokkaido, which will supply the bank with 1,500 megawatt-hours of electricity per year.
In addition to corporate PPAs, Mizuho Bank is also investing in renewable energy projects through its corporate energy business. The bank has established a dedicated team to develop and invest in renewable energy projects, including solar, wind, and hydroelectric power. Mizuho Bank is also providing financing for renewable energy projects, including project finance and green bonds.
Mizuho Bank is committed to supporting the transition to a low-carbon economy and is actively engaging with its clients to promote sustainable practices. The bank is providing advisory services to clients on energy efficiency, renewable energy, and carbon reduction. Mizuho Bank is also integrating environmental, social, and governance (ESG) factors into its lending and investment decisions to promote sustainable development.
In conclusion, Mizuho Bank, Ltd. is a leading financial institution in Japan that is committed to sustainable development. The bank recognizes the importance of decarbonisation and is taking proactive steps to reduce its carbon footprint. Mizuho Bank is investing in energy-efficient technologies, renewable energy, and corporate PPAs to reduce its reliance on fossil fuels. The bank is also engaging with its clients to promote sustainable practices and integrating ESG factors into its lending and investment decisions. Mizuho Bank is a leader in the transition to a low-carbon economy and is setting an example for other financial institutions to follow.