Mitsubishi UFJ Trust and Banking Corporation
Mitsubishi UFJ Kokusai Asset Management Co., Ltd.
MU Investments Co., Ltd.
Mitsubishi UFJ Asset Management (UK) Ltd.

Interim Target towards Net Zero GHG Emissions for Assets
under Management
Tokyo, October 31, 2022---Mitsubishi UFJ Trust and Banking Corporation (“the TrustBank”) and its subsidiaries, Mitsubishi UFJ Kokusai Asset Management Co., Ltd.
(“MUKAM”) MU Investments Co., Ltd. (“MUI”) and Mitsubishi UFJ Asset Management(UK) Ltd. (“MUAMUK”) are hereby pleased to announce that interim targets have been
set for 2030 Net Zero GHG emissions towards the achievement of reduction ofgreenhouse-gas (GHG) emissions to net zero by 2050.
In November 2021, Mitsubishi UFJ Financial Group Asset Management (“MUFG AM”)*
1 has joined the "Net Zero Asset Managers initiative (“NZAM”)”, - a global initiative forasset managers, and expressed its commitment to achieving Net Zero GHG emissions
by 2050 or sooner. In line with the global commitment to keeping global warming to1.5℃, MUFG AM aims to contribute to the goal of Net Zero GHG emissions by 2050or sooner, and to align investment activities with Net Zero by 2050 or sooner.
We aim for Net Zero through development of products contributing to Net Zero andcollaboration with asset owners, among other stakeholders while supporting investee
companies’ transition through the stewardship activities such as engagement andexercise of voting rights. The above four group companies will work together as MUFG
AM to more effectively take actions on these measures.
* 1 MUFG AM is the brand name of five asset management companies within the Mitsubishi UFJ Financial Group,
namely the Trust Bank and its subsidiaries, MUKAM, MUI, MUAMUK, and Mitsubishi UFJ Alternative Investments.
The current NZAM initiative is participated by the above four companies, excluding Mitsubishi UFJ AlternativeInvestments.

■ Overview of the interim targets
The interim target for 2030 covers 55 per cent (approximately 41 trillion yen) of assets
under management (approximately 74 trillion yen as of the end of June 2022) to reduce
50 per cent reduction of its GHG emissions per economic intensity (absolute emissions(tCO2e) / AUM), compared to the year of 2019. This is the interim target that is alignedwith carbon neutral by 2050 or sooner. MUFG AM will further strengthen cooperation
among the four group companies and promote cross-sectional efforts to achieve thistarget. MUFG AM will also work on developing investment products that are consistent
with achieving Net Zero by 2050 or sooner at the latest, and promote investments that
contribute to resolving climate issues. In addition, MUFG AM will biannually review theinterim target and consider gradually increasing the ratio of the target assets until it
covers 100 per cent of the assets under management.

■ Strategic measurement
This initiative will present an opportunity to promote Net Zero measures from thefollowing three perspectives with NZAM commitments. MUFG AM will share results ofanalysis of climate change risks and opportunities, and measures through responsible
investment reports, etc. on a regular basis.
(1) Engagement measures• 1,000 companies with high GHG emissions (equivalent to over 90 per cent asper portfolio) among the four companies participating in NZAM under MUFG AM
will be selected, of which those with a larger invested amount will be prioritizedas part of the engagement to support their transition strategy.
• For those companies that have not sufficiently responded to ESG issues,including climate change, or have shown no signs of improvement afterdialogues, MUFG AM encourages them to be more responsible with exercising
voting rights.
(2) Collaboration with Asset Owners, etc.
• MUFG AM will actively provide information and strengthen relationships withasset owners through organizing seminars and events on ESG investment andNet Zero, sharing reports of investment products on climate change, anddialogues on decarbonization.
• MUFG AM collaborates with asset owners and other asset managers to promoteinteractive and public engagement, including policy recommendations, throughglobal initiatives such as Climate Action 100 +.
(3) Development of products contributing to Net Zero• MUFG AM will promote the development of ESG considered products.
Specifically, indexes will be developed based on EU Paris-aligned
Benchmarks (EU PAB), and active investment strategy will be developed forthe companies that contribute to achieving Net Zero.
As the responsible institutional investor supporting the Japanese Stewardship Codeand a signatory to the Principles for Responsible Investment, MUFG AM aims tocontribute to the sustainable growth of society as well as financial markets bysupporting investee companies’ transition and working with stakeholders to resolve
ESG issues.
Recognizing the importance that addressing climate change issues plays a key role insustainability, we, as a leading company, will make further contributions to achieving a
low-carbon/decarbonized society in alignment with the ambitious goals of the ParisAgreement.