May 21, 2020
Mizuho Financial Group, Inc.
Publication of TCFD Report 2020
Mizuho Financial Group, Inc. (President & CEO: Tatsufumi Sakai) has published a TCFD* Report, becoming the first financial services group in Japan to do so.
At Mizuho, we have supported the intent and aims of the TCFD Recommendations since 2017. Based on our awareness that climate change is one of the most crucial global issues with the potential to impact the stability of financial markets, we have positioned addressing environmental issues and climate change as a key part of our corporate strategy and have endeavored to strengthen our initiatives.
In 2018, we began disclosing information in line with the TCFD Recommendations through our Integrated Report. This year, we have produced a separate TCFD Report compiling more detailed and comprehensive information for each of the four thematic areas under the TCFD Recommendations. The report covers risks and opportunities posed by climate change, our strategy to respond to them, and other matters. It contains our first disclosure of the results of our scenario analysis of physical risk and also details the results of our multiple scenario analysis of transition risk, through which we reaffirmed the importance of supporting business structure transformation through engagement (constructive dialogue) with our clients.
We anticipate that the rise in natural disasters due to climate change, together with various stakeholders' growing efforts to address climate change, will continue to drive shifts in the business environment. We will continue to assess risks and opportunities appropriately from a long–term perspective, while advancing our strategic initiatives, enhancing our disclosures, and working with our clients to achieve a low-carbon society.
- *Task Force on Climate–related Financial Disclosures
A task force led by representatives of the private sector, established in December 2015 based on recommendations from the Financial Stability Board in order to enhance availability of corporate information related to climate change; issued final report (recommendations) in June 2017.