Climate Change
Our Commitment to Carbon Neutrality
SuMi TRUST Group’s commitment to achieving carbon neutrality is unwavering
“Trust for a flourishing future”
Climate change poses a grave threat to the future of people and the planet.
Building upon our stated purpose of, “Trust for a flourishing future,”
we are steadily advancing our efforts toward carbon neutrality.
We will continue to tackle climate change and contribute to building a prosperous future through the power of Trusts.
Carbon Neutral Commitment and Transition Plan
The Group established a “Transition Plan toward Carbon Neutrality.” We are leveraging our unique position as a trust group to accelerate decarbonization of our clients and society.
- *1Click here for the “Progress of Our Approach to Carbon Neutrality” (Oct. 31, 2023) for more information about the transition plan. Click here
- *2SuMi TRUST Bank carried out fact-finding surveys on various corporate initiatives:
“Corporate Governance Survey®” is the largest fact-finding survey in Japan on corporate governance of domestic listed companies (Conducted annually since 2017)
“Real Estate Sustainability Survey” is a fact-finding survey on real estate owners’ sustainability initiatives through investment and management (Conducted annually since 2022)
Metrics and Targets
1. GHG Emissions from Our Own Operations
Scope 1 and Scope 2 of the SuMi TRUST Group
| Measurement items | Unit | Fiscal 2020 | Fiscal 2021 | Fiscal 2022 | Fiscal 2023 | Fiscal 2024 | |
|---|---|---|---|---|---|---|---|
| GHG emissions | t-CO2e | 32,191 | 23,763 | 9,997 | 8,840 | 8,471 | |
| GHG emissions | Scope1 (direct emissions) | t-CO2e | 4,307 | 4,225 | 5,411 | 4,472 | 4,265 |
| GHG emissions | Scope2 (indirect emissions) | t-CO2e | 27,884 | 19,538 | 4,586 | 4,368 | 4,206 |
- Calculation boundary:SuMiTG and domestic and overseas locations of its consolidated subsidiaries (excluding equity method affiliates)
- Calculation method:Calculated in accordance with the GHG Protocol. From fiscal 2022, Scope1(direct emissions) includes CO2 emissions from gasoline use
Scope 1 and Scope 2 of the SuMi TRUST Bank Group (domestic locations) and its fiscal 2025 targets
| Measurement items | Unit | Fiscal 2021 | Fiscal 2022 | Fiscal 2023 | Fiscal 2024 | Fiscal 2025 targets | Fiscal 2030 targets |
|---|---|---|---|---|---|---|---|
| GHG emissions | t-CO2e | 22,228 | 6,952 | 5,076 | 4,842 | 7,224*1 | 0 |
- Calculation boundary:Consolidated basis with SuMi TRUST Bank at the top, including subsidiaries such as Sumitomo Mitsui Trust Panasonic Finance Co., Ltd.
- Calculation method:Calculated in accordance with the GX League Guidelines for Calculation, Monitoring, and Reporting
*1From fiscal 2024, the calculation method was revised and emissions from the leasing business of Sumitomo Mitsui Trust Panasonic Finance Co., Ltd. were newly added to the boundary
Scope 3 of the SuMi TRUST Group (fiscal 2024)
| Category | Calculation item | GHG emissions (t-CO2e) |
|
|---|---|---|---|
| 1 | Purchased goods and services | Products and services | 287,364 |
| 2 | Capital goods*2 | Capital expenditure (building facilities, software, etc.) | 1,144,163 |
| 3 | Fuel- and energy-related activities not included in Scope 1 or Scope 2 | Electricity and city gas consumption | 4,952 |
| 4 | Transportation and distribution | In house mail transportation | 242 |
| 5 | Waste generated from operations | Waste generated | 221 |
| 6 | Business travel | Transportation expenses, domestic and overseas accommodation expenses, and relocation travel expenses | 12,127 |
| 7 | Employee commuting | Employee commuting expenses | 5,166 |
| 13 | Downstream leased assets | Emissions from leased assets | 1,038,186 |
For Category 15, please refer to Section 2, "GHG Emissions of the Investment & Loan Portfolio."
Calculation boundary
- Categories 1,2,6,7: Domestic locations and major overseas locations of SuMi TRUST Bank; Amova Asset Management; Sumitomo Mitsui Trust TA Solution Co., Ltd.; SuMiTAM; Sumitomo Mitsui Trust Systems & Services Co., Ltd.; Sumitomo Mitsui Trust Panasonic Finance Co., Ltd.; Sumitomo Mitsui Trust Club Co., Ltd.; and Sumitomo Mitsui Trust Realty Co., Ltd.
- Category 3: SuMiTG and domestic and overseas locations of its consolidated subsidiaries (excluding equity-method affiliates)
- Category 4: Certain domestic logistics routes of SuMi TRUST Bank
- Category 5: Major office buildings of SuMi TRUST Bank
- Category 13: Sumitomo Mitsui Trust Panasonic Finance Co., Ltd.
Calculation method:Based on the Ministry of the Environment’s database of emission factors for calculating GHG emissions across the supply chain. Emission factors are, in principle, taken from this database. Emissions may be revised as data accuracy improves or calculation methodologies are updated.
*2We joined the GX League in fiscal 2023 and set an intermediate GHG reduction target. Emissions from company vehicles used for business purposes are excluded from the fiscal 2025 target
2. GHG Emissions of the Investment & Loan Portfolio
Measurement of financed emissions as of the end of March 2025, based on the PCAF Standard recommended under the TCFD framework*1*2
As a result of the measurement, total financed emissions (Scope 1, 2, and 3) amounted to 175.9 million t-CO2e. The coverage ratio*3 on a monetary basis was 93.9%.
- *1PCAF: Partnership for Carbon Accounting Financials, an international initiative launched in 2015 primarily by European financial institutions. It develops methodologies and supports data availability for measuring GHG emissions associated with investments and loans
- *2PCAF Standard: The Global GHG Accounting and Reporting Standard for the Financial Industry, published by PCAF in 2020. It provides guidance for calculating emissions under Scope 3 Category 15 by asset class
- *3Coverage ratio: Calculated by dividing the investment and loan amount for which financed emissions could be measured with a PCAF score of 4 or higher by the total investment and loan amount of the assets included in the scope
For assumptions and considerations regarding measurement, please refer to page 81 of the Climate Change Report 2025/2026.
Sector Specific Investment & Loan Portfolio
*2“t” denotes tonne (1,000kg) and “Mt” denotes megatonne (1million tonnes)
*3The actual results for 2019–2023 in the automotive sector (use of products) reflect recalculated figures following data refinement
3. GHG Emissions of the Asset Management Portfolio
SuMiTAM and Amova participate in NZAMI, an international initiative for asset managers that aims for net-zero GHG emissions at investee companies by 2050. Both companies set their 2030 intermediate GHG reduction targets in fiscal 2022 toward achieving the 2050 goal. They will continue to strengthen engagement activities and enhance investment management practices, thereby contributing to the realization of a carbon-neutral society.
| Emission intensity (t-CO2e per million USD) |
Actual results | |
|---|---|---|
| SuMiTAM*1 | 98.1*3 | -20.2% |
| Amova*2 | 53.25*4 | -37.0% |
- *1Emissions intensity is calculated based on assets under management as of March 31, 2025. Reduction performance is compared with the base-year emissions intensity (122.9t-CO2e/USD million). The base-year emissions intensity is calculated based on approximately 50% of assets under management as of June 30, 2021
- *2Emissions intensity is calculated based on assets under management as of December 31, 2024. Reduction performance is compared with the baseline emissions intensity (84.7t-CO2e/USD million). The base-year emissions intensity is calculated based on emissions data as of December 2019, covering approximately 43% of assets under management as of December 31, 2021
- *3
Calculated using the following formula
- *4
Calculated using the following formula EVIC: Enterprise Value Including Cash
4. Sustainable Finance Initiatives
SuMi TRUST Bank has set a long-term target of ¥15 trillion in cumulative sustainable financing over the ten years from FY2021 to FY2030. As of the end of March 2025, cumulative transactions reached approximately ¥5.3 trillion.
*In addition to impact equity investments (as defined by the Global Impact Investing Network) that are made with the intention of generating positive and measurable social and environmental impacts alongside financial returns, we also include a portion of our equity investments that address the societal issues we aim to solve
5. Loan Balance for Coal-Fired Power Generation (SuMiTB)
SuMiTB has established the following policies in its Sector Policy.
- We do not provide financing for the construction or expansion of coal-fired power plants. However, we support initiatives that contribute to the transition toward a carbon-neutral society
- We do not provide financing to companies whose primary business is coal-fired power generation if they do not have an existing credit relationship with us
For project finance, we aim to reduce the loan balance by 50% compared with the level as of March 2020 by fiscal 2030 and to achieve zero by fiscal 2040. For corporate finance related to new construction or expansion, we also aim to reach zero by fiscal 2040.
Loan balance results and targets for coal-fired power generation
| Loan balance for coal fired power generation | Fiscal 2019 | Fiscal 2021 | Fiscal 2022 | Fiscal 2023 | Fiscal 2024 | Fiscal 2030 target | Fiscal 2040 target |
|---|---|---|---|---|---|---|---|
| Project finance | JPY 133.8 billion | JPY 142.7 billion | JPY 140.0 billion | JPY 132.0 billion | JPY 120.0 billion | 50% reduction from the March 2020 level | Zero |
| Corporate finance (new construction and expansion) | - | JPY 20.1 billion | JPY 14.0 billion | JPY 12.0 billion | JPY 11.0 billion | - | Zero |
Please refer to the “TCFD Report,” the “Climate Change Report” (since FY2024), and the “Progress of Our Approach to Carbon Neutrality” for details on our climate change initiatives, including key figures and indicators.