Climate Change Initiatives
JAPAN POST BANK has set forth in its Basic Sustainability Policy and Environmental Policy that it will engage in environmentally friendly activities and work to resolve environmental issues to protect nature and the environment and pass them on to future generations, and it is promoting the reduction of greenhouse gas (GHG)* emissions and other initiatives.
Complying with the TCFD Recommendations
JAPAN POST BANK announced its agreement with the TCFD Recommendations in April 2019, and has been making disclosures in accordance with the TCFD framework. For more details, please visit “Complying with the TCFD Recommendations” under Related Information.
Related Information
Complying with the TCFD Recommendations
Commitment to Climate Change Response
Based on the recognition that climate change is an important issue that will seriously affect the environment, society and business activities, Japan Post Bank has established the "JAPAN POST BANK Environmental Policy" and declared to achieve net zero GHG emissions by 2050. In order to achieve these policies and declarations, we will promote various initiatives to reduce and avoid the impact of climate change and improve efficiency.
JAPAN POST BANK Environmental Policy
The JAPAN POST BANK Environmental Policy stipulates that, in consideration of the impact of our business on the environment, we will actively work to save resources and energy, recycle resources, use environmentally friendly goods, and manage industrial waste to reduce the burden of our business on the global environment, and that we will contribute to the realization of a recycling society and global environmental conservation by addressing climate change through our business and promoting environmental considerations in society.
JAPAN POST BANK Environmental Policy
Japan Post Bank Net Zero GHG Emissions Declaration
Recognizing that climate change, which has a serious impact on the society and the economy, is an important issue, we announced the Japan Post Bank Net Zero GHG Emissions Declaration in March 2022. To achieve the targets of the Paris Agreement, we are implementing various measures to reduce the impact of climate change and are working to improve efficiency, such as through conserving energy.
Japan Post Bank Net Zero GHG Emissions Declaration
- Recognizing that climate change, which has a serious impact on the society and the economy, is an important issue, we have endorsed the Paris Agreement and are implementing and supporting initiatives that contribute to mitigating and adapting to climate change.
- We aim to achieve net zero GHG emissions (Scopes 1 to 3) for the Bank and the finance portfolio by 2050.
Roadmap to Decarbonization
- *1:
- The emissions of the investment portfolio may be revised retroactively in the future if the vendor acquiring the emissions data is changed or if the calculation method is improved.
- *2:
- The figures for absolute emissions in FY2022/3 have been changed from those disclosed in the past due to the refinement of calculation methods, such as expanding the scope of companies subject to calculation (e.g., from non-consolidated to consolidated). In addition, the values in the table above are calculated using book value as the corporate value of the attribution factor.
Climate Change Metrics and Targets
| Metric*1 | Unit | Base year | FY2022/3 | FY2023/3 | FY2024/3 | FY2025/3 | FY2026/3 | FY2031/3 Medium-term Target |
2050 Target |
|||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Target | Perfor- mance |
Target | Perfor- mance |
Target | Perfor- mance |
Target | Target | |||||||
| Emissions for the Bank (Scopes 1, 2)*2 ,*3 |
kt-CO2 | FY2020/3 48 |
44 (-8%) |
43 (-10%) |
27 (-43%) |
24 (-51%) |
23 (-52%) |
－ | 23 (-53%) |
－ | 19 (-60%) |
Net zero | ||
| Emissions from the finance portfolio (Scope 3 Category 15) |
All Sectors *4 |
Absolute amount (book value basis) | million t-CO2 | － | － | Approx.48 | － | Approx.47 | － | － | － | － | Per unit of investment (book value basis) 59.9 (-50%) |
|
| Absolute amount (market value basis) | million t-CO2 | － | － | Approx.41 | － | Approx.41 | － | － | － | － | ||||
| Per unit of investment (book value basis) | t-CO2/100 million yen | FY2020/3 119.8 |
－ | 84.9 (-29%) |
－ | 80.5 (-33%) |
－ | － | － | － | ||||
| Per unit of investment (market value basis) | t-CO2/100 million yen | － | － | 71.8 | － | 71.3 | － | － | － | － | ||||
| Power Generation Sector | Emissions Intensity | gCO2e /kWh |
－ | － | 346 | － | － | － | － | － | － | 165-213 | ||
| Balance of ESG-themed investments and financing*5 | 100 million yen | － | － | 2.1 | － | 3.2 | － | 4.6 | 5.9 | 7.0 | － | － | ||
- *1:
-
GHG Protocol classification. CO2 is a target and subject to management at JAPAN POST BANK.
Scope 1: Direct emissions of greenhouse gases by the business itself
Scope 2: Indirect emissions from the use of electricity, heat and steam supplied by other companies
Scope 3: Emissions of other companies related to the activities of the business (category 15: investment)
- *2:
- A level that is in line with the SBT's 1.5℃ level reduction target (4.2% or more reduction each year) and Japan's reduction target (goal of carbon neutrality by 2050, a 46% reduction compared to FY2014/3 by FY2031/3), which is also consistent with the Paris Agreement.
- *3:
- The targets cover 100% of the Scopes 1 and 2 emissions of JAPAN POST BANK (non-consolidated).
- *4:
- Calculated based on the PCAF (Partnership for Carbon Accounting Financials) methodology, using GHG emissions and financial data provided by S&P Global Trucost. (The GHG emissions data includes estimated values from S&P Global Trucost.) The "enterprise value" used in the attribution factor is presented as both "market value (using market capitalization)" and "book value (using net assets)" so that the GHG emissions reduction efforts of the investee and the replacement of the investee's securities can be evaluated as the main factors, regardless of changes in the investee's stock price.
- *5:
- ESG bonds (green bonds, social bonds, sustainability bonds, transition bonds,etc.) and loans to the renewable energy sector, regional vitalization funds, etc.
Measures for Mitigating and Adapting to Climate Change
To reduce the impact of climate change, we are working on measures for mitigating and adapting to climate change and are also supporting measures for the mitigation and adaptation to climate change within our supply chain and among our investees and borrowers. Details of these efforts are as follows.
| Climate change countermeasures | In-house initiatives | Supporting initiatives throughout the supply chain and among investees and borrowers |
|---|---|---|
|
Mitigation measures Measures that prevent global warming, such as by minimizing GHG emissions or maintaining and enhancing absorption by forests and plants |
(Initiatives for Scope 1 and 2 reduction)
(Initiatives for Scope 3 reduction)
|
|
|
Adaptation measures Measures to address the current and future impact of climate change caused by global warming |
|
|
Promoting paperless business operations
JAPAN POST BANK is developing new services that will reduce paper usage by harnessing ICT, and we are eliminating paper and waste through the digitization of documents such as those that we send to our customers.
Internally, we are striving to reduce paper usage from various angles, accomplishing this by improving services through sales using tablets, as well as by eliminating paper used in internal meetings, introducing a paperless, electronic decision-making system, and conducting seminars through e-learning. All photocopy paper used internally is recycled paper.
Yucho Direct+ (plus) Non-Passbook General Account
With no issuing of a passbook, this service enables customers to use their cash cards for cash deposit and withdrawal enquiries, while current balances are obtained via "Yucho Direct." Instead of issuing passbooks, details of deposits and withdrawals can be confirmed for up to a maximum period of 20 years*. Since the paper used for both conventional passbooks and for the various notifications sent to customers is unnecessary, this leads to a reduction in paper usage.
- *:
- For deposits and withdrawals from March 2021. (Deposits and withdrawals made prior to March 2021 can be confirmed up to a maximum period of 15 months)
Related Information
Yucho Direct+ (plus) (Japanese version only)
Online Service for Viewing Transfer Receipt / Payment Notifications
This is a service that enables customers to check transfer receipt / payment notifications and payment handling slips from 9:00 a.m. the day after the account update on an office computer, home computer or smartphone. The feedback we have received from customers has included comments like "Being able to confirm transfer receipt / payment notifications via the internet is convenient," "No longer needing to store hard copies of transfer receipt / payment notifications has made life easier." Since transactions are confirmed via an online screen instead of informing customers in writing, this is also leading to a reduction in paper usage.
Related Information
Online Service for Viewing Transfer Receipt / Payment Notifications (Japanese version only)
Flat 35 S Home Loan that Supports the Purchase of Environmentally Friendly Homes
JAPAN POST BANK includes the Flat 35 S in its home loan lineup.
The Flat 35 S provides a reduced interest rate for a fixed period of time for Flat 35 applicants who acquire long-lasting homes that are high-quality, energy-saving, and earthquake-resilient.
By providing the FLAT 35 S to customers, JAPAN POST BANK will promote the spread of environmentally friendly housing, such as houses that reduce cooling and heating energy consumption, and work to contribute to Japan’s goal of achieving carbon neutrality by 2050.
In FY2022, we provided approximately 2.7 billion yen in [Flat 35] loans, of which approximately 1.8 billion yen was provided as [Flat 35] S loans.
Related Information
Yucho Flat 35 S (Japanese version only)
Environmental Consideration in Procurement (Climate Change and Biodiversity)
In our contract processes, we declare "Consideration for the environment: We shall conduct procurement activities with consideration for conservation of the global and regional environment and effective use of resources," and so conduct environmentally friendly procurement.
For example, we use vegetable-based ink*1 to print our Integrated Report (Annual Report) and Environmental Data Book. In addition, we check the materials used in the items we procure, and we are gradually changing item specifications to environmentally friendly materials.*2 We also continuously promote green purchasing.
Furthermore, in December 2018, we reviewed Japan Post Group's Approach to Procurement Activity (procurement policy). In addition to showing that the Japan Post Group supports the 10 principles in the four fields (human rights, labor, environment and anti-corruption) defined in the UN Global Compact, we ask our business partners for their cooperation.
- *1:
- Refers to ink made from recycled oil containing vegetable oil, such as soy oil and palm oil, and / or waste oil.
- *2:
- An initiative to reduce plastic waste.
Related Information
Japan Post Group's Approach to Procurement Activity (external website)
Japan Post Group's CSR Procurement Guidelines (external website)
For details on our ESG Investment and Financing initiatives and Social Contribution Activities for the Environment, please refer to Related Information.
Related Information
Social Contribution Activities for the Environment
Endorsing Environmental Policies
Endorsement of government policies related to climate change
Japan Post Bank endorses the basic principles* of the Law Concerning the Promotion of Measures to Cope with Global Warming, which is a law of the Japanese government concerning the promotion of global warming countermeasures. In accordance with the Law, Japan Post Bank regularly reports to the Japanese government on its efforts to combat global warming and submits an annual report on greenhouse gas emissions. Japan Post Bank also invests in the "Japan Green Investment Corp. for Carbon Neutrality(JICN)" (established by the Ministry of the Environment) as stipulated in the Law. Japan Green Investment Corp. for Carbon Neutrality(JICN) aims to invest in projects that contribute to decarbonization and serve as a catalyst for redirecting large amounts of private ESG funds to decarbonization investments, and Japan Post Bank endorses the government policy and is implementing these initiatives.
- *:
- Basic Philosophy of the Law Concerning the Promotion of Measures to Cope with Global Warming
The promotion of global warming countermeasures is provided for in Article 2.1(a) of the Paris Agreement, which stipulates that efforts shall be continued to limit the increase in global average temperature to well below 2 degrees Celsius above the pre-industrial level and to limit the increase in global average temperature to 1.5 degrees Celsius above the pre-industrial level. In light of the above, the project must be carried out under close coordination among citizens, the national government, local governments, businesses, and private organizations, with the aim of realizing a decarbonized society in Japan by 2050, while promoting environmental conservation and economic and social development in an integrated manner.
Related Information
Investment in Japan Green Investment Corp. for Carbon Neutrality (JICN) (Japanese version only)
Endorsing COOL CHOICE
COOL CHOICE is a national movement being promoted by the Japanese Government that encourages people to make smart choices that assist measures to counter global warming, such as making lifestyle changes, replacing products, and using services that contribute to the creation of a carbon-free society. JAPAN POST BANK endorses COOL CHOICE.
COOL CHOICE(Link to Ministry of the Environment website) (Japanese version only)
Participation in Industry Associations
JAPAN POST BANK is a member of the industry associations below.
We believe that the environmental policies of these industry associations are in accord with the policies of the Bank, however, should their policies deviate, we will clearly express our opinion in an effort to contribute to the promotion of climate change countermeasures throughout the entire industry.
- Japanese Bankers Association
- Japan Securities Dealers Association