Medium- to Long-Term Targets
Initiatives to Achieve Zero CO2 Emissions
Targeting 50% reduction in CO2 emissions at SuMi TRUST Bank by FY2030 and zero emissions by FY2050
Establishment of Medium- and Long-Term Targets for CO2Emissions Reduction
With the aim of contributing to the mitigation of climate change, the Group has established medium- to longterm reduction targets for CO2 emissions generated from the head office, computer centers, branch offices, and other office buildings due to the business activities of the Group’s core company, SuMi TRUST Bank.
The aim of the Paris Agreement is to hold the increase in the global average temperature to well below 2°C above pre-industrial levels and to pursue efforts to limit the increase to 1.5°C. In Japan and elsewhere, global initiatives are currently being implemented in an effort to achieve this goal mainly by aiming to realize net-zero CO2 emissions by fiscal 2050.
As a signatory to the PRB and PRI, the SuMi TRUST Group engages in sustainable finance and ESG investment practices and we therefore have a responsibility to help solve environmental problems through business activities and reduce our environmental footprint as stated in our Sustainability Policy.
As for our medium- and long-term targets, not only will we aim to achieve the global common goal of zero emissions by fiscal 2050, we have also set our sights on a 50% reduction in emissions by the milestone year of fiscal 2030 (compared to 2019). In setting this goal, we reference the Science Based Targets initiative—the global standard of reduction targets for working towards the goal of the Paris Agreement—which calls for companies to reduce their emissions by at least 4.2% per year in order to limit global warming to 1.5°C.
Initiatives for Achieving FY2030 Target
Around 80% of SuMi TRUST Bank’s CO2 emissions derive from purchased electricity, while some 10% is generated by the combustion of utility gas through in-house power generation. Accordingly, it aims to halve its emissions mainly by adopting electricity-related measures.
The Bank will aim to reach this goal through its own independent efforts to conserve energy use and by contributing to the initiatives of broader society; for example, by promoting the use of renewable energy.
Saving Energy by Streamlining Operations and Using More Efficient Equipment
SuMi TRUST Bank expects to achieve a reduction of roughly 10% by streamlining operations (mainly by curbing overtime), installing more efficient equipment (upgrading servers and air conditioners, switching to cloud computing, etc.) at its computer center, and reducing floor space in the Head Office building and branches. When deciding on equipment upgrades, we will also evaluate the degree of improvement in energy efficiency in terms of CO2 emissions reduction and promote systematic reduction measures.
Contributing to a Lower Electric Power Emission Coefficient through Increased Uptake of Renewable Energy
The greater uptake of renewable energy for Japan’s electric power encourages the decarbonization of electricity and can therefore lower the country’s overall electric power emission coefficient. The SuMi TRUST Group contributes to the greater adoption of renewable energy by leveraging its trust and finance functions, which ultimately leads to a reduction in CO2 emissions at SuMi TRUST Bank. The implementation of this initiative in society at large will likely cut emissions by around 10%.
Adoption of Renewable Energy by SuMi TRUST Bank
By switching the power we purchase to renewable energy sources, we expect to reduce CO2 emissions by at least 30%.