- Increase in credit-related costs and reputational damage, caused by climate-related factors
- Increase in credit-related costs and reputational damage, caused by nature-related factors
- Challenges in making the transition due to issues with calculation methods, risk of temporarily increasing portfolio GHG emissions
- Lack of vision or infrastructure for achieving net zero by 2050
- Increase in cost burden
Sumitomo Mitsui Financial Group
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, Sumitomo Mitsui Financial Group disclosed greenhouse gas emissions of 915.9 Mt-CO2e*2. By scope: Scope 1: 14 kt-CO2e; Scope 2: 1.6K kt-CO2e; Scope 3: 916 Mt-CO2e. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
915.9 Mt-CO2e*2
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 14 kt-CO2e |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 1.6K kt-CO2e |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 916 Mt-CO2e |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023 | 915.9 Mt-CO2e*2 |
| 2019-04 to 2020-03 | 94.2K tCO2e/year (SMBC Group) |
| 2018-04 to 2019-03 | 175.8K t-CO2 (2018) |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Announced reduction targets on portfolio GHG emissions for the power, oil & gas, and coal sectors
- Announced reduction targets on portfolio GHG emissions for steel and automobile sectors
- Announced reduction targets on portfolio GHG emissions for the real estate sector
- Achieved a 12% reduction in operational GHG emissions (Scope 1,2) over the last two years
- Contributing to circular economy leveraging strengths of group companies
- Commencement of natural capital management promotion and analysis loans
- Introduction of renewable energy to data centers
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce operational GHG emissions by 40% by 2025 (vs. FY2021)
- Reduce operational GHG emissions by 55% by 2026 (vs. FY2021)
- Achieve net zero operational GHG emissions by 2030
📅 Medium-term
- Cumulative total of JPY 50 trillion in sustainable finance by 2030
- Cumulative total of JPY 20 trillion in green finance by 2030
- Achieve net zero portfolio GHG emissions by 2050
- Set mid-term reduction targets for Power, Oil & Gas, Coal, Steel, Automobile, and Real Estate sectors by 2030
🔭 Long-term
- Achieve net zero portfolio GHG emissions by 2050
🌱 ESG Focus Areas
Environment (Climate change, Natural capital)DE&I/Human RightsPoverty and InequalityDeclining Birthrate and Aging PopulationJapan’s Regrowth