[Mitsubishi Research Institute, Inc.] Ministry of the Environment launches FY2020 transition strategy formulation and engagement practice program (for financial institutions)
*View in browser* *Mitsubishi Research Institute, Ltd.*
Press release: May 10, 2024
**
Ministry of the Environment launches FY2020 transition strategy formulation and engagement practice program (for financial
institutions)
*Promoting decarbonization of entire local communities through financial institutions*
Mitsubishi Research Institute, Inc. (Representative Director and President: Kenji Yamoda, hereinafter referred to as
MRI) was commissioned by the Ministry of the Environment to provide support for the formulation of transition strategies and engagement practices for financial institutions in fiscal 2020, and is working with supported financial institutions to formulate transition strategies and engage in engagement practices. We started accepting applications on May 7th. As part of the “Reiwa 6 Transition Strategy Formulation and Engagement Practice Program (for financial
institutions),” we will support the decarbonization of the entire local community through financial institutions, including regional financial institutions.
1. Background
As efforts to address climate change expand, there is a growing movement in Japan to require companies and other organizations to formulate and disclose a “transition plan” that indicates a series of goals and actions toward transitioning to a low-carbon economy as an organization’s business strategy. It’s spreading outside.
Under these circumstances, decarbonization efforts at financial institutions require not only the formulation and disclosure of their own transition plans, but also engagement with the decarbonization of their investment and loan recipients. It is becoming increasingly important to approach small and medium-sized enterprises (SMEs) through financial institutions, which have limited ability to foster decarbonization awareness and take action compared to large
corporations. However, many regional financial institutions whose main clients are small and medium-sized enterprises (SMEs) have not been able to start considering transition plans and strategy formulation before engaging, due to a lack of specialized human resources, knowledge, and know-how. .
Last year, MRI served as the secretariat for the Ministry of the Environment’s “FY2025 Engagement Practical Program Based on TCFD Disclosure for Regional Financial Institutions,” and also created the “Engagement Practical Guidance Based on TCFD Disclosure for Financial Institutions.” We have supported engagement by financial
institutions.
2. Overview of this program
In this program, the formulation of a transition plan for
decarbonization of financial institutions and its engagement strategy are defined as a “transition strategy,” and the program includes the formulation of a transition strategy and engagement practices for decarbonization of investees and loans based on the transition strategy. We aim to create model cases related to
* (1) Implementation details*
The following will be implemented based on the goals set individually by each financial institution eligible for support.
–
Support interview: Formulation of a transition strategy based on calculation and analysis of financed emissions (greenhouse gas emissions of the investee and loanee), engagement with the investee and loanee for decarbonization based on the strategy, and disclosure of the transition plan. Support for consideration, etc. (based on individually set goals, support related content) (about 5 times) – Interim report meeting: Sharing and exchanging opinions on the transition strategy developed through support interviews and the status of engagement practices
– Results reporting session: Discussion and formulation of transition strategy and sharing and exchanging opinions on the results of engagement practices
* (2) Recruitment of participating financial institutions*
We are inviting applications as follows.
–
Target: Financial institutions or their holding companies that have the intention of formulating a transition strategy, engaging with investment and loan targets for decarbonization based on the strategy, formulating and disclosing a transition plan, etc.
– Number of selected companies: around 3 companies
– Application period: May 7th (Tuesday) to June 7th (Friday), 2024 – How to apply: For details on application conditions, documents to be submitted, etc., please see the Ministry of the Environment’s special website.
* https://www.env.go.jp/press/press_03131.html*
* (3) Public recruitment briefing session*
We will hold a program briefing session as follows.
– Date and time: May 14, 2024 (Tuesday) 14:00-15:00
– Event method: Online format
– How to participate: No advance notice or application is required. Please join us from the URL below.
* https://mri.webex.com/mri/j.php?MTID=m7465a6201bca81e69549dd33d3872fa8* Meeting number (access code): 2519 220 5459
Meeting password: Tw2qbZ98BJJ9
3. Future plans
In order to achieve the 2050 carbon neutrality goal, it is necessary to consider approaches that involve small and medium-sized
enterprises, which are less susceptible to pressure from institutional investors in the direct financial market and have a distance from regulatory compliance in the supply chain. In this regard, we recognize that regional financial institutions that support small and medium-sized enterprises through the indirect financial market play a large role.Through this program, MRI will support a wide range of regional financial institutions and create model cases to help decarbonize Japan. We will contribute to the
Related information
Regarding recruitment of financial institutions to participate in “FY2020 Transition Strategy Formulation and Engagement Practice Program (for financial institutions)”
https://www.env.go.jp/press/press_03131.html
Recruitment of financial institutions to participate in the
“Nature-related information analysis pilot program for achieving decarbonization in 2020 (for financial institutions)”
https://www.env.go.jp/press/press_03158.html
Ministry of the Environment launches nature-related information analysis pilot program (for financial institutions) to achieve decarbonization in FY2020
https://www.mri.co.jp/news/press/20240510_2.html
Contact information
Mitsubishi Research Institute, Ltd.
2-10-3 Nagatacho, Chiyoda-ku, Tokyo 100-8141
*Inquiries regarding content*
Inside the Energy and Sustainability Business Headquarters
Transition strategy formulation and engagement practice program management office
Person in charge: Togami, Shimada, Seto
E-mail: sus-info@mri.co.jp
*Inquiries from the press *Group Public Relations Department E-mail: media@mri.co.jp
*About details about this release*
https://prtimes.jp/main/html/rd/p/000000115.000050210.html
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