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Mitsubishi UFJ Financial Group, Inc (TYO)--MUFG Bank Shifts Head Office Building Electricity to Renewable Energy-22/8/2019.

MUFG Bank, a consolidated subsidiary of MUFG, announced today that it has switched to TEPCO Energy Partner, Inc.'s "Aqua Premium" plan, an electricity plan which uses only electricity generated from non-carbon-emitting hydropower resources. This is a first for a Japanese bank and means that all of the electricity used at MUFG Bank's Marunouchi Head Office Building in Tokyo will be procured from renewable energy resources.

By changing to this plan, MUFG Bank will reduce its C02 emissions*1 by approximately 6,300 tons (the equivalent of about 450,000 cedar trees*2) per year.

In line with its Corporate Vision, MUFG is striving to fulfill its mission as a financial institution by building lasting relationships with customers and society and working hand-in-hand with these stakeholders to ensure sustainable mutual development.

Recognizing the importance of environmental initiatives to its business, MUFG has also set out policies for the management of environmental issues in its MUFG Environmental Policy Statement*3

MUFG believes that taking action to protect the environment, particularly that which helps combat climate change, is one of the most important issues it must address in fulfilling its social mission. While providing customers with solutions to their challenges through finance, MUFG will continue to promote initiatives to identify and mitigate environmental burdens, including greenhouse gas emissions, through the corporate activities of its group companies.

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Title Annotation:Media Releases
Publication:Japan Banking
Date:Oct 9, 2019
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