Mizuho participates in a variety of initiatives both in Japan and overseas from a global perspective and while taking into consideration its role as a financial institution in an effort to promote activities aimed at forming a sustainable society.
United Nations Global Compact
The United Nations Global Compact came into existence in July 2000 with the endorsement of Kofi Anan, who was then the UN's Secretary–General. Through 10 principles addressing matters like human rights, labor, the environment, and anti–corruption, the UN Global Compact encourages companies and other organizations throughout the world to support and act in ways consistent with the 10 principles. Mizuho signed on as a supporter of the UN Global Compact in 2006.
Through activities such as participation in the Working groups on the themes of SDGs and ESG of the Global Compact Network Japan, which promotes the embrace of the 10 Global Compact principles in Japan, Mizuho is sharing information and its views on the advancement of CSR initiatives.
10 Principles of United Nations Global Compact
- Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
- Principle 2: make sure that they are not complicit in human rights abuses.
- Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
- Principle 4: the elimination of all forms of forced and compulsory labour;
- Principle 5: the effective abolition of child labour; and
- Principle 6: the elimination of discrimination in respect of employment and occupation.
- Principle 7: Businesses should support a precautionary approach to environmental challenges;
- Principle 8: undertake initiatives to promote greater environmental responsibility; and
- Principle 9: encourage the development and diffusion of environmentally friendly technologies.
- Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
Sustainable Development Goals (SDGs)
UNEP Finance Initiative (UNEP FI)
The United Nations Environment Programme Finance Initiative (UNEP FI) is an international partnership of financial institutions that strives to identify, disseminate, and promote the best environmental and sustainable practices in the various operations in which financial institutions are involved. Mizuho became a signatory to the UNEP FI in 2006.
"Principles for Financial Action towards a Sustainable Society"
In 2010, the Expert Committee on Environment and Finance of the General Policy Committee of the MOE Central Environment Council recommended the development of the Japanese Version of Environmental Finance Principle as a framework for expanding environmental finance initiatives.
Efforts to create such a code of conduct got under way with the aim of expanding the scope and improving the quality of environmental finance in Japan.
Discussions in a drafting committee, for which the Ministry of the Environment performed administrative functions, took place in seven meetings beginning in September 2010 and the "Principles for Financial Action towards a Sustainable Society," which address a wide range of issues including environmental problems were set forth in October 2011.
As a member of the drafting committee and working group, Mizuho actively participated in discussions for the formulation of the principles and sector guidelines, and became an official signatory in November 2011.
MHBK (former Mizuho Corporate Bank) recognized early on that the Equator Principles would become a new business standard in international financing for environmental and social risk management of large–scale projects and therefore became the first Asian bank to adopt Equator Principles in October 2003. Taking advantage of its long experience of implementing Equator Principles in project finance, MHBK now plays a leadership role among Equator Principles Financial Institutions as a member of the Steering Committee.
UN's "Principles for Responsible Investment (PRI)"
Montreal Carbon Pledge
The Montreal Carbon Pledge is a new initiative for reducing greenhouse gases established at the PRI in Person global annual conference held in Montreal, Canada in September 2014. Institutional investors that are signatories to the pledge measure and disclose the greenhouse gas emissions of an equities portfolio, or portion thereof, that they manage.
Asset Management One (former DIAM Asset Management) signed the Montreal Carbon Pledge on October 2, 2015.
CDP Climate Change Program
CDP is an international not–for–profit organization (NPO) that provides companies and investors with a global system to measure, disclose, manage, and share vital environmental information. In 2005, Mizuho joined a project run by the CDP and institutional investors, which calls for companies to disclose both their strategies for addressing climate change and their greenhouse gas emissions. Mizuho has also been participating in a project that calls for water–related disclosures since fiscal 2010.
Cross Sector Biodiversity Initiative (CSBI)
MHBK, as one of the early members, is actively involved in the Cross Sector Biodiversity Initiative (CSBI), a partnership among the Equator Principles Association, IPEICA, and the International Council on Mining and Metals (ICMM). CSBI considers measures and strategies to reduce the impact of large–scale development projects on biodiversity.