Environmental Policy
Mizuho Financial Group
Created: April 2020
Revised: April 2021
1. Role of Environmental Policy
In the Mizuho Code of Conduct, Mizuho states its commitment to environmentally conscious action. This
Environmental Policy, which stipulates Mizuho’s awareness of the issues that form the basis of its conduct and thespecific actions that will be taken, was established through a resolution of the Board of Directors and applies to allcompanies in Mizuho Financial Group, Inc.
2. Mizuho’s Recognition of Environmental Issues
Environmental issues, which are becoming more diverse and complex, are one of the most important issues at theglobal level.
The economy, industry, and society are supported by various benefits provided by natural capital1 and ecosystems,
and we recognize that humanity has a shared responsibility to address environmental issues which impact these,with the aim of achieving a sustainable society.
We recognize that our business activities may have a direct or indirect impact on the environment and thatenvironmental initiatives such as mitigating and adapting to climate change, preserving biodiversity, and developinga recycling-based society are essential requirements for our activities and continued existence as a company.
Through understanding opportunities and risks from a global, long-term perspective and proactively pursuingenvironmental initiatives that leverage our knowledge and capabilities as an integrated financial services group, we
aim to improve corporate value and enable a sustainable society.
1 Natural capital = the stock of renewable and non-renewable natural resources (e.g., plants, animals, air, water, land,metals) that provide humans with a series of benefits.
3. Initiatives Pursued Via Business Activities
We strive to enhance our positive impacts on the environment and to avoid or reduce negative impacts by leveraging
our financial brokerage and consulting capabilities to proactively develop and offer financial products and services
that promote the environmental initiatives of companies and other clients.
We have established an Environmental Management Policy for Financing and Investment Activity, whose details
are revised as needed.
Mizuho Bank complies with the Equator Principles2 with respect to project financing and manages environmental
and social risks.
For asset management business, Mizuho Trust & Banking and Asset Management One fulfill their stewardship
responsibilities3 as responsible institutional investors in an appropriate manner through activities such as holding
dialogue with the companies they invest in regarding ESG issues and monitoring companies entrusted with assetmanagement.
4. Initiatives to Reduce Our Environmental FootprintWe strive to reduce the environmental footprint of our business activities through initiatives such as using
sustainable energy and resources, preventing pollution, and green procurement.

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2 Equator Principles = A framework for confirming that a project has given sufficient consideration to its impact on the naturalenvironment and local communities when private-sector financial institutions participate in projects that involve large-scale
development or construction.

3 Stewardship responsibilities = The responsibilities of institutional investors to enhance the medium- to long-term investment returns

for clients and beneficiaries by improving the enterprise value of the company and promoting sustainable growth through actions suchas constructive, purposeful dialogue (engagement) based on in-depth knowledge of companies receiving investment and their businessenvironments.

5. Governance and Management System
We do not only comply with environmental laws and regulations but also support domestic and international
initiatives that contribute to the realization of a sustainable society and pursue activities aligned with each country
or region’s framework.
We incorporate environment-related risks and opportunities into our strategy and strive to manage themappropriately.
Mizuho Financial Group has developed a system for ensuring the promotion of initiatives aimed at realizing asustainable society. Specifically, this includes regular reports to the Board of Directors about matters such as thestatus of environmental initiatives. It has also set targets and indicators for environmental initiatives and pursues
continuous improvement by regularly evaluating and reviewing their progress.
Group companies implement environmental initiatives based on a governance and management system aligned with
their size and business type.
We strive to educate officers and employees for the purpose of ensuring compliance with and steady implementationof the Environmental Policy.
We strive to ensure transparency through proactive and appropriate disclosure of information about environmental
initiatives.
6. Stakeholder Engagement
We pursue cooperation and collaboration by prioritizing engagement (constructive dialogue) with various
stakeholders, including our clients, suppliers, local communities, and governments.
7. Initiatives Addressing Specific Issues■Approach to Addressing Climate Change
We recognize that climate change poses a threat to the environment, society, and people’s lifestyles and businessactivities and is one of the most important global issues, with the potential to impact the stability of financial markets
as well.
At the same time, we believe that businesses and innovations that contribute to mitigating and adapting to climatechange, such as renewable energy businesses which are necessary for the transition to a carbon-neutral society, willbring new business opportunities for us.
We support the Paris Agreement’s goal of “strengthening the global response to the threat of climate change.”
Based on the above, we view responding to climate change as a key issue in our management strategy, and with theaim of achieving a carbon-neutral society (net-zero greenhouse gas emissions) by 2050 and developing a societythat is resilient to climate change while proactively fulfilling our role as an integrated financial services group, wewill pursue the following initiatives:
We will create a flow of funds aimed at achieving the Paris Agreement’s target of limiting the global averagetemperature rise and undertaking a phased shift to a financial portfolio aligned with this target.
We will proactively pursue engagement (constructive dialogue) to support climate change countermeasuresand the transition to a carbon-neutral society from a medium- to long-term perspective, based on clients’
individual issues and needs.

We will proactively develop and offer financial products and services to support clients’ climate change
countermeasures and transition to carbon neutrality.
Recognizing the importance of disclosing climate-related financial information, we will pursue transparent
information disclosure about our progress status by adopting the TCFD4 recommendations, as well as
leveraging growth opportunities and enhancing risk management.
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Revision History

Revision Date

April 1, 2020

CreatedApril 1, 2021

Revised

Revision Details