News Release

Nomura Asset Management Joins
the Partnership for Carbon Accounting Financials
Tokyo, September 10, 2021—Nomura Asset Management Co., Ltd. (NAM), the core company
within the Investment Management Division of Nomura Group, today announced that it has joined
the Partnership for Carbon Accounting Financials (PCAF).
PCAF is a collective effort by financial institutions worldwide to harmonize the way they assessand disclose greenhouse gas (GHG) emissions financed by their loans and investments. With
more than 145 banks and investors from five continents, PCAF is expanding in North America,Latin America, Europe, Africa, and Asia-Pacific.
NAM is committed to helping realize a sustainable and prosperous society through its asset
management business. NAM sees climate change as one of the most important ESG issues andis working to address it through its ongoing initiatives.
NAM is increasingly integrating the analysis and assessment of portfolio companies’ climaterelated risks and opportunities into its investment management process. As part of these efforts,
NAM has in recent years assessed and disclosed the GHG emissions of its entire equities andcorporate bond portfolio based on the Task Force on Climate-related Financial Disclosures(TCFD) recommendations.
In addition, NAM measures the GHG emissions of individual funds and uses the data to makeinvestment decisions. In 2021, NAM became the first company in the industry to introduce afinancial impact analysis for transition risk utilizing carbon pricing rather than the volume of GHGemissions.
With growing support globally for a carbon-free society and achieving net zero by 2050, it is criticalfor NAM to assess and reduce the GHG emissions of its portfolio. However, the assessment offinanced emissions remains challenging, particularly for asset classes other than equities andcorporate bonds. NAM’s collaboration with PCAF represents an important step towards
overcoming these challenges.
PCAF published its global GHG accounting and reporting standard for the financial industry inNovember 2020, responding to industry demand for a global, standardized GHG accounting andreporting approach. NAM will assess and disclose financed emissions using PCAF’s knowledge
and database. NAM will also collaborate with PCAF and its participants to promote initiatives toassess financed emissions in the Asia-Pacific region.
As a responsible institutional investor, NAM will continue to address ESG issues in order tobecome the asset manager of choice for clients around the world.

endsAbout PCAF
The Partnership for Carbon Accounting Financials (PCAF) was launched globally in September 2019. Currently, morethan 145 banks and investors have joined the PCAF initiative. PCAF participants work together to jointly develop theGlobal GHG Accounting and Reporting Standard for the Financial Industry to measure and disclose the GHG emissionsof their loans and investments. By doing so, PCAF participants take an important step to assess climate-related risks,
set targets in line with the Paris Climate Agreement and develop effective strategies to decarbonize our society. For
more information see https://carbonaccountingfinancials.com/.

NomuraNomura is a global financial services group with an integrated network spanning over 30 countries. By connecting
markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its
three business divisions: Retail, Wholesale (Global Markets and Investment Banking), and Investment Management.
Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions
and considered thought leadership. For further information about Nomura, visit www.nomura.com.