Climate Change
Our Group’s Policy on Climate Change
Climate change is among the most serious environmental problems that threaten the durability of the global economy and society. Our Group has tackled the problem as a prioritized social issue.
It is said that the funds necessary to realize decarbonization amounts to approximately 150 trillion yen by the 2030 fiscal year just in Japan. * Our Group aims to realize a decarbonized society while contributing to expanding investment opportunities for investors by demonstrating our “advisory” and “asset management and administration” functions to utilize the money of individual and institutional investors for the decarbonization of client companies through numerous sincere conversations with stakeholders.
*Source: the “Basic Policy for the Realization of GX in Japan,” the Cabinet Secretariat

Our Group has pushed forward the efforts toward carbon neutrality through joining the Net-Zero Banking Alliance (NZBA) and the Net Zero Asset Managers Initiative (NZAMI) since announcing the Carbon Neutral Commitment in October 2021.
Carbon Neutral Commitment (October 2021)
- 1Contribute to achieving carbon neutrality in society by leveraging the trust banking group’s wide-ranging and flexible functions
- 2Target net-zero GHG emissions in investment and loan portfolios by 2050
To achieve net-zero emissions by 2050, a milestone target for 2030 will be formulated in FY2022 in line with the framework of the NZBA - 3Achieve net-zero GHG emissions in the SuMi TRUST Group by 2030
We formulated and disclosed our transition plan toward carbon neutrality in October 2023, based on which we tackle concrete issues to realize a decarbonized society.

Overall perspective of the transition plan (For detail, please refer to the “Progress of Our Approach to Carbon Neutrality” reports issued in October 2023 and March 2024.)

※1Show consolidated basis with the company at the Entity column as the top
※2Technology Based Finance (TBF) Team, created in the Sustainability Management dept. comprised of experts in each area to support social implementation of technology financially and from the perspective of a policy
Numerical Value and Indicators
Our Group’s major targets and results so far are as follows. (As of end-March 2024. From the “Climate change Report 2024/2025)

*1Preliminary figure
*2The target is 50% (43 trillion yen) of the 85 trillion yen in assets under management as of the end of June 2021. Assets excluded from the target are those for which GHG emission calculation methods are not yet established, such as sovereign bonds. These will be considered for inclusion as calculation methods become available.
*3The target is approximately 13 trillion yen, which is 43% of the 31 trillion yen in assets under management as of the end of December 2021.
*4Sustainable finance is a general term for financial services (inc. Impact Equity) to businesses and clients who contribute to solving environmental/social issues based on international standards such as the Green Bond Principles and Social Bond Principles. Figures for past fiscal years have been revised due to revisions in the timing of recording projects in some categories and refinements in how the calculations are carried out. In fiscal 2021, the total was approximately 0.7 trillion yen.
*5On a consolidate basis of Sumi TRUST Bank as a top and other group companies including subsidiaries such as Sumitomo Mitsui Trust Panasonic Finance and Sumitomo Mitsui Trust Loan & Finance
*6Joined the GX League in FY2023 and set the intermediate reduction targets, but GHGEs from our internal commercial vehicles are excluded from the targets for FY2025
Our Group’s GHG emissions are as follows. (The tables are from the “Climate change Report 2024/2025”)
Measurement items | Unit | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | |
---|---|---|---|---|---|---|---|
GHG emissions | t-CO2e | 33,675 | 32,191 | 23,763 | 9,997 | 8,840 | |
GHG emissions | Scope1 (direct emissions) | t-CO2e | 4,432 | 4,307 | 4,225 | 5,411 | 4,472 |
GHG emissions | Scope2 (indirect emissions) | t-CO2e | 29,243 | 27,884 | 19,538 | 4,586 | 4,368 |
Calculation scope:Domestic and overseas offices of Sumitomo Mitsui Trust Group, Inc. and the Group’s consolidated subsidiaries (excluding equity method affiliates)
Calculation method:Compliant with the GHG Protocol. CO2 emissions from gasoline use have been included in Scope 1 (direct emissions) since FY2022
Category | Calculation item | Calculation method | GHG emissions (t-CO2e) | |
---|---|---|---|---|
1 | Purchased products and services | 20 items including products and services | Average consumption method (amount) | 101,122 |
2 | Capital goods | Capital investment (building equipment, software, etc.) | Average consumption method (amount) | 199,471 |
3 | Fuel and energy activities not included in Scope 1,2 | Electricity usage, city gas, etc. | Average data method | 5,506 |
4 | Upstream transportation and distribution | Internal mail delivery | Average data method | 242 |
5 | Waste generated in operations*1 | Generated waste (kg) | Waste type-specific method (waste volume) | 233 |
6 | Business travel*2 | Transportation, domestic and overseas accommodation fees, assignment travel expenses*3 | Consumption-based method (amount) | 8,450 |
7 | Employee commuting*4 | Commuting expenses | Amount base | 3,823 |
13 | Downstream leased assets | Emissions from leased assets | Average data method | 1,043,755 |
Calculation scope:
•Category 3: Domestic and overseas offices of SuMiTB and the Group’s consolidated subsidiaries
•Category 4: A portion of SuMiTB’s domestic transportation routes
•Category 13: Sumitomo Mitsui Trust Panasonic Finance Co., Ltd.
•Others: SuMiTB’s domestic and overseas offices and Sumitomo Mitsui Trust Panasonic Finance Co., Ltd.
Calculation method:Based on the Ministry of the Environment’s “Database of Emissions Unit Values on Accounting for Greenhouse Gas Emissions Throughout the Supply Chain.” In general, we used emission factors in the database.
Emissions figures may be revised due to improvements in the accuracy of available data, changes in calculation methods, etc.
*1Emissions are calculated based on the amount of industrial waste and the number of employees at the site and the total number of employees
*2Emissions are calculated based on domestic and overseas business travel expenses of domestic offices
*3Emissions are calculated for each of the following travel expense categories: (1) domestic assignment, (2) overseas assignment, and (3) training/study abroad programs
*4All transportation used for commuting was assumed to be by train, and emissions were calculated based on commuting expenses
Financed Emission (FE) Results (FY2022 and FY2023)

As for our concrete efforts, numerical value, and indicators on climate change, please refer to the “TCFD Report” or the “Climate Change Report” (since FY 2024), and the “Progress of Our Approach to Carbon Neutrality.”