Bank of Tokyo-Mitsubishi UFJ and Tokio Marine & Nichido have formed a partnership to strengthen financial services for decarbonization.
Banks and major non-life insurance companies will work together to develop investment and loans that will lead to the reduction of greenhouse gases and to develop insurance services that respond to climate change.
According to the announcement, Bank of Tokyo-Mitsubishi UFJ and Tokio Marine & Nichido have reached a basic agreement to work together to strengthen financial services for companies working on decarbonization.
First, around the summer of this year, we will start a service to measure greenhouse gases emitted by companies and analyze disaster risks such as flood damage, which is feared to spread due to climate change.
On top of that, we will support the planning for decarbonization of companies, invest in technological innovations and equipment renewals that lead to the reduction of greenhouse gases, and develop and sell insurance products in preparation for the expansion of natural disasters. It is said that.
In the financial industry, Sumitomo Mitsui Financial Group will launch an organization that has jurisdiction over decarbonization-related functions such as banks and securities under its umbrella from April, and Mizuho Bank will also work on the transition to decarbonization. There is a growing movement to support corporate decarbonization efforts from a financial perspective, such as providing loans to support them.