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Reducing the Environmental Impacts of Our Business Activities

Efforts to Reduce GHG Emissions from Our Own Operations

Mitsubishi UFJ Financial Group (MUFG) recognizes that, among the environmental and social issues we face, the conservation and protection of the global environment is the shared responsibility of all of humanity, and is working to provide solutions for all stakeholders in order to realize the Purpose we established in April 2021, “Committed to empowering a brighter future.” 

In the “MUFG Group Code of Conduct,” MUFG positions “Commitment to the Environment” as part of its employees’ “Responsibility as a Corporate Citizen,” and the Board of Directors sets forth the policy for the specific actions to be taken in order to implement commitment to the environment in the “MUFG Environmental Policy Statement.” The Policy Statement’s section on “Environmental Actions through Business Activities” stipulates “Reduction of Environmental Impact at Our Offices,” “Environmental Improvement and Pollution Prevention,” and “Awareness Raising Across the Group,” and efforts are being undertaken to address each of these areas.

Progress on Reducing GHG Emissions from Our Own Operations

To reduce GHG emissions and mitigate global warming, MUFG aims to achieve net-zero GHG emissions(note) in its own operations by 2030. In addition to efforts to conserve energy, MUFG is working to switch to renewable energy for the electricity it uses and to switch to electric vehicles (EVs) for its business vehicles. We have also set interim targets to steadily advance these efforts.

<Interim Targets>

・FY2025: Reduce domestic GHG emissions by two-thirds from FY2020

・FY2026: Reduce Group and global GHG emissions by 50% from FY2020

  1. Categorized as Scope 1 and Scope 2 in the GHG Protocol.
In FY2023, MUFG’s in-house GHG emissions totaled 175,000 tCO2e, which was a reduction of 14,000 tCO2e (7%) from the previous fiscal year (189,000 tCO2e) and achieved interim target on FY2025. Moreover, MUFG obtained third-party limited assurance for the FY2023 GHG emissions results.
  1. Indirect emissions other than Scope1 and Scope2
Roadmap

Efforts on Switching to Renewable Energy

Renewable Energy Use of Electricity

By March 2022, MUFG successfully shifted to 100% renewable energy for electricity procured by all domestic consolidated subsidiaries.

In July 2022, the Bank introduced renewable energy power generated by solar power generation at approximately 40 sites using off-site corporate PPA(note1). This makes it possible to purchase electricity derived from renewable energy over a long period of time. MUFG’ s efforts have directly contributed to an increase in the number of renewable energy sources with additionality(note2) in Japan, and will continue to actively promote activities to promote the spread of renewable energy.

Renewable Energy Use of Electricity
  1. PPA, or Power Purchase Agreement, is a service in which the power producers and electricity consumers execute a purchase agreement for renewable electricity for a price and period agreed in advance, and renewable energy generated from renewable power sources installed off-site, not in demand areas, is supplied to consumers via ordinary power grids.
  2. Contribution to the spread and expansion of new renewable energy through the introduction of renewable energy.

Efforts on Carbon Neutrality for Business Car

To achieve its net zero target by 2030, MUFG is gradually replacing company vehicles with models that consume less gasoline. In 2017, MUMSS began using fuel cell vehicles on a trial basis, and the Bank had convert of 200 compact cars to EVs in FY2023. From FY2024 onward, MUFG will share the expertise acquired in these fore-running efforts within the group and promote the transition to carbon-neutral company vehicles by choosing the latest environmentally friendly automobile models.

Efforts on Energy Efficiency and Conservation

MUFG supports the Act on the Rational Use of Energy and the Act on Promotion of Global Warming Countermeasures, submitting reports on the status of achieving energy-saving targets and greenhouse gas emissions, while implementing and promoting a variety of initiatives to conserve energy.
Setting a Target on Energy Efficiency and Conservation
In April 2024, the Bank set a target of reducing energy consumption at its domestic buildings by 30% from the fiscal 2019 level by fiscal 2030, with the aim of simultaneously curbing GHG emissions from its business activities and reducing costs, as well as fostering company-wide environmental awareness. We aim to achieve our targets by combining hard measures, such as installing energy-saving equipment and optimizing the size of our offices, and soft measures, such as adjusting the temperature setting of air conditioners in offices and actively engaging employees in energy-saving activities.
External Evaluation of Energy Conservation
Under the evaluation system established in the Act on the Rational Use of Energy to categorize business operators, the Bank, the Trust Bank, and ACOM were recognized as S rank companies (excellent companies for energy efficiency) for FY2023 (evaluation of FY2022 results). MUFG will continue to promote various efforts to conserve energy and improve energy efficiency, not limited to adhering to the relevant laws and regulations, in order to achieve net-zero by 2030.
Efforts to Conserve Energy in Buildings
MUFG obtained its first “ZEB Ready(note)” certification (energy saving of 50% or more) for the new park office and library in MUFG Park, for which construction was completed in June 2023.
  1. Certification as a net zero energy building, which is granted to buildings that achieve a 50% or greater reduction in primary energy consumption from the benchmark based on the building’s use, size, etc.
The Park office
The Park office
The library
The library
In addition, the Bank reconstructed two of its head office buildings, the Osaka Building in 2018 and the Nagoya Building in 2021. Both buildings were designed to be environmentally conscious and were fitted with all-LED lighting, window glass with advanced insulation (low-E glass), and equipment to effectively utilize rainwater. Subsequent to the CASBEE(note) evaluation of the buildings’ environmental performance, both buildings obtained S rank, the highest rating, based on CASBEE Osaka Mirai and CASBEE Nagoya for the Osaka Building and Nagoya Building respectively.
  1. The Comprehensive Assessment System for Built Environment Efficiency (CASBEE) is a method for evaluating and rating the environmental performance of buildings. It is a comprehensive assessment of the quality of a building, evaluating features such as interior comfort and scenic aesthetics, in consideration of environment practices that include materials and equipment that save energy or achieve smaller environmental loads.
Exterior of the Osaka Building
Exterior of the Osaka Building
Exterior of the Nagoya Building
Exterior of the Nagoya Building

The MUFG/the Bank Tokyo head office building is slated for future reconstruction, and the plan is to build a new “MUFG Main Building” that is designed to be carbon-neutral, energy-saving, and resource-recycling, as well as to procure construction-related funds through green finance.

 

In other future reconstruction projects as well, MUFG will continue to pursue environmentally conscious building efforts such as obtaining ZEB and CASBEE certification.

Exterior Image of the "MUFG Main Building"
Exterior Image of the "MUFG Main Building"

Efforts Toward the Transition to a Circular Economy

MUFG is implementing a variety of initiatives to shift to a "circular economy" that uses resources in a sustainable manner, based on the growing international awareness of resource recycling, the growing problem of waste, and the conservation of resources.
J4CE

Recycling of Waste

Recycling of Waste

A target waste recycling rate of at least 90% has been set for MUFG locations in Japan, and making greater efforts to properly sort waste is being promoted by installing waste disposal stations where recyclable waste can be sorted, establishing rules for sorting and collection, and providing specific examples of proper sorting. In FY2023, the Bank achieved a 100% paper products recycling rate for its head office buildings in Tokyo, Nagoya, and Osaka. The Tokyo head office building is also conducting kitchen waste recycling, for which the FY2023 waste recycling rate was over 90% (95.6%). We aim to continue to improve the waste recycling rate, including at other head office buildings.

Overseas, Krungsri (Bank of Ayudhya) in Thailand has been promoting the “Krungsri Zero Waste” project since 2018. This project aims to raise employee awareness of waste problems through training sessions and waste sorting activities, and works to reduce and recycle waste.

Recycling of Waste Cooking Oil to SAF

In order to contribute to the production of domestic SAF (Sustainable Aviation Fuel)(note) and to the realization of carbon neutrality of the aviation industry, MUFG began using waste cooking oil (approximately 22,000 liters per year) emitted from the cafeterias of 239 bank branches, headquarters buildings, dormitories, and welfare facilities nationwide for SAF in fiscal 2024.
  1. Energy that can significantly reduce carbon dioxide emissions compared to conventional aviation fuel
Recycling of Waste Cooking Oil to SAF

Effective Use and Protection of Paper Resources

In order to effectively utilize forest resources, MUFG is reducing the amount of paper used along with reusing and recycling paper.

Measure to reduce paper consumption by making the number of printed copies visible, promoting smart work (Proactive use of online conference systems, projection of data on monitors, etc.), digitizing contracts, and digitizing handouts to customers such as bankbooks, prospectuses, and account activity statements.

The Bank purchased approximately 160 million sheets of A4 paper equivalent in FY2023, a decrease of approximately 58% from FY2019. From the viewpoint of conserving natural capital such as forests and biodiversity, we will continue to promote efforts to effectively use and reduce the use of paper resources.

Reducing, Reusing, and Recycling of Paper

Reduce, Reuse, Recycle (3R) of Plastic and Switching to Renewables

In response to environmental problems concerning plastic such as the impact on the ocean and oceanic resources, MUFG is promoting initiatives to reduce, reuse, and recycle plastics (the “3Rs”) and adopt renewables. (note)

Activities to reduce the amount of plastic used, such as encouraging employees to stop distributing straws derived from fossil resources at cafes and introducing cardless transaction services.

To reduce the amount of waste PET bottles, the Bank's main building in Tokyo provides purified water. Securities companies also distribute their own bottles to employees and install water dispensers in their offices.

As part of our recycling efforts, we have set up a recycling bin dedicated to PET bottles to promote recycling through the sorting of PET bottles. In FY2023, we achieved a PET bottle recycling ratio of 100% at the Bank headquarters building (Tokyo, Nagoya, Osaka).

We are also promoting the shift to horizontal bottle-to-bottle recycling, with the Bank's headquarters building in Nagoya achieving a horizontal recycling rate of 100%. We will continue to promote horizontal recycling.

As for initiatives to switch to renewables, NICOS has adopted biomass-derived plastic for the clear wrapping it uses for its member information magazine, and MUFG will continue to pursue the switch to renewable resources for plastics.

  1. ”Renewable” refers to substitution with a renewable resource such as paper or plastics derived from plant matter.
Reduce, Reuse, Recycle (3R) of Plastic and Switching to Renewables

Efforts Related to Water Resources

MUFG is engaged in efforts on a global basis to conserve water through the effective use of water resources.

To promote the reuse of water and utilization of rainwater, water treatment and rainwater utilization equipment has been installed in some head office buildings in Japan.

Overseas, MUFG is working to reduce water usage at subsidiaries located in highly water-stressed countries. Krungsri(note) is taking measures such as wastewater reuse in order to reduce the amount of tap water used at the Bangkok head office, and has reduced water usage at its Phloenchit office by approximately 40% by installing water-saving equipment. In addition, Bank Danamon in Indonesia has installed hygienic water infrastructure in five regions.

We will continue to pursue various efforts to effectively utilize water resources.

  1. Krungsri established their “Policy for Environment, Resource, Occupational Health, and Safety” to promote and support the environmental management and resource efficiency. The policy presents a guideline to determine the environmental protection and resource conservation measures, including those related to water consumption as below.
  • ・Communicate and campaign about correct and efficient water consumption
  • ・Stipulate appropriate water consumption time (e.g., watering plants, cleaning space in front of the building, etc.)
  • ・Use water-saving and environmentally friendly sanitary wares
  • ・Stipulate measures on wastewater reuse (e.g., wastewater treatment per stipulated standards and wastewater reuse for some activities)
  • ・Log monthly water consumption
(As of March 2025)

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