GHG Emissions, Commercial, Solar  -  July 26, 2022

Mizuho Shifts to Renewable Energy

Mizuho Bank, Ltd., a consolidated subsidiary of Mizuho Financial Group, Inc. shifted to using renewable energy at seven large-scale properties owned or leased by the bank in Japan. 

This will enable Mizuho Bank to achieve 100% renewable energy use at the bank’s main data centers, according to a statement. 

Mizuho is seeking to achieve a low-carbon society by 2050 and set a target of becoming carbon neutral for Scope 1 and 21 global GHG emissions from seven of its group companies by FY2030. 

Emissions from electricity usage (Scope 2 emissions) in Japan account for approximately 80% of the financial institution’s CO2 emissions across the seven group companies. 

This current shift to renewable energy focuses on large-scale properties in Japan and covers all of Mizuho Bank’s main data centers, which require large amounts of power. The main data centers are using green energy supplied directly from green power generation facilities. 

The other properties are effectively using renewable energy supplied from sources outside Japan’s feed-in tariff system and will reduce the company’s CO2 emissions from across the seven group companies by approximately 20%.

Mizuho will also draw on its expertise as a financial services group to proactively provide financing support, including environmental finance and transition finance along with advice and solutions for strengthening and shifting businesses towards decarbonization.

The company’s goal is to reach its low carbon goals by 2050.