Sumitomo Mitsui Financial
Sumitomo Mitsui Financial Group, often referred to as SMFG, is a prominent financial services institution headquartered in Tokyo, Japan. Established in 2001, the company has rapidly evolved within the banking sector, primarily focusing on commercial banking, investment banking, and asset management. With a strong presence in Asia and a growing footprint in global markets, SMFG serves a diverse clientele, including individuals, corporations, and government entities. The group is renowned for its innovative financial solutions, including retail banking services, corporate financing, and wealth management. SMFG's commitment to customer-centric services and technological advancements has positioned it as a leader in the competitive financial landscape. Notable achievements include its robust capital base and consistent rankings among the top financial institutions in Japan, reflecting its stability and reliability in the industry.
DitchCarbon Score
How does Sumitomo Mitsui Financial's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Sumitomo Mitsui Financial's score of 77 is higher than 89% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Sumitomo Mitsui Financial's reported carbon emissions
In 2024, Sumitomo Mitsui Financial reported total carbon emissions of approximately 1,591,000,000 kg CO2e, with emissions distributed across various scopes: 14,000,000 kg CO2e (Scope 1), 89,000,000 kg CO2e (Scope 2), and a significant 1,581,000,000 kg CO2e (Scope 3). The previous year, 2023, saw total emissions of about 1,600,579,000 kg CO2e, with Scope 1 at 15,000,000 kg CO2e, Scope 2 at 137,000,000 kg CO2e, and Scope 3 at 1,600,579,000 kg CO2e. The company has set ambitious climate commitments, aiming for net zero greenhouse gas emissions for Scope 1 and 2 by 2030. Additionally, it is committed to achieving net zero emissions across its investment and loan portfolios by 2050. For the energy sector, Sumitomo Mitsui Financial plans to reduce greenhouse gas emissions from fossil fuels by approximately 29% for oil and gas and 60% for coal by 2030, compared to 2020 levels. In terms of operational efficiency, the company has established a target to reduce electricity consumption intensity by 19% by 2030, relative to 2009 levels. Furthermore, it aims for a 55% reduction in Scope 1 and 2 emissions by FY2026 compared to FY2021 levels, and a 40% decrease in Scope 1 emissions by FY2026 from FY2022 levels. These initiatives reflect Sumitomo Mitsui Financial's commitment to addressing climate change and reducing its carbon footprint in alignment with global sustainability goals.
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| 2013 | 2014 | 2015 | 2016 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | - | 0,000,000 | 0,000,000 | 0,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 86,949,200 | 00,000,000 | 00,000,000 | 00,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | 7,869,000 | - | - | - | 00,000,000 | 00,000,000 | 000,000,000 | 0,000,000,000 | 0,000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Sumitomo Mitsui Financial is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
