Japan Post Bank
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CHIEF SUSTAINABILITY OFFICER
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Report created by Youmna Abdallah
Japan Post Bank
Japan Post Bank Co., Ltd. is a Japanese bank headquartered in Tokyo. It is a corporation held by Japan Post Holdings, in which the government of Japan has a majority stake.
The bank is a major financial institution that started in 1875 as a postal savings system, and to this day it continues to operate primarily out of post office branches. It manages over ¥205 trillion of assets and offers services in almost 24,000 branches across Japan. At times in its history, it was the largest financial institution in the world.
Since its conception, it has played a significant role in both making economic services available to people in Japan and making investments towards the economic and industrial development of the country.
Company Sustainability Activity
The Japan Post Group network is working towards being more sustainable in order to provide customer-oriented services, support the lives of customers in local communities and mitigate climate change. The Group also pursues managerial transparency through the publishing of annual sustainability reports.
- The JP Children’s Tree-Planting Campaign “Tohoku Regeneration Green Wave” by the Children’s Tree-Planting Promotion Network (a special nonprofit corporation), co-sponsored by Japan Post Group, won the Outstanding Activity Award at the 2019 Association for Children’s Environment Awards.
- It was also recognized as an initiative contributing to the Green Wave activities by the Japan Committee for the United Nations Decade on Biodiversity (UNDB-J).
- Four companies – Japan Post Co., Ltd., Seino Transportation Co., Ltd., Nippon Express Co., Ltd., and Yamato Transport Co., Ltd. – were given the Special Award at the 18th Green Partnership Conference for the use of their joint trunk transportation, “Super-Full Trailer SF25”, across the Kanto and Kansai regions.
- The four Japan Post Group companies (Japan Post Holdings, Japan Post, Japan Post Bank and Japan Post Insurance) were ranked first in the “Finance/Insurance” industry division of “Randstad Award: Employer Brand Research 2019″ for the second year in a row.
- During the relocation of the head of office to Otemachi, Chiyoda-ku, Tokyo, Japan Post Holdings worked to introduce office spaces with world-class environmental performances.
- Japan Post Bank has been positively evaluated for its initiatives in ESG thus far, and has been included in the MSCI Japan Empowering Women Index (WIN), an index composed of companies that are leading in promoting and maintaining gender diversity, created by MSCI.
Reduction of Greenhouse Gases:
- In accordance with Japan’s Plan for Global Warming Countermeasures based on the Paris Agreement, Japan Post Bank has set the Group’s greenhouse gas (GHG) reduction target to achieve by FY2030 and an intermediate benchmark for FY2020.
Reduction of Energy Consumption:
- Set the Group’s FY2020 target concerning energy consumption and a specific plan to reduce the consumption. Japan Post Bank will strive to reduce energy consumption in its business activities.
Effective Resource Utilization and Waste Reduction:
- Use limited resources without wasting them and promote initiatives for building a recycling-based society, such as paperless operations and reducing, reusing and recycling.
Compliance with Laws, Regulations and Other Rules:
- Japan Post Bank will comply with laws, regulations, various agreements and other rules in its efforts to prevent its business activities from causing pollution and other problems.
Reduction of Greenhouse Gas Emissions
- 2030 reduction target: 169,000t-CO₂ decrease (16 % decrease）
- Reduction achieved at the end of 2019: 144,591.4t-CO₂ decrease（13.7% decrease）
- Number of electric vehicles deployed: 966
- Number of “HAKO POST” delivery lockers installed*: 720
Effective Use of Resources and Reduction of Waste
- Number of donations to environmental conservation groups
- Japan Post Insurance: 34 groups
- Japan Post Bank: 13 groups
- Number of female employees at managerial positions: 2,971／8.8％
- Number of female executive officers: 21／13.5％
- Average number of paid holidays used: 18.8
- Number of employees who took childcare leave: 4,309
- Male: 2,589
- Female: 1,720
UN Sustainable Development Goals
UN SDGs Compliance
SDG 3 (Good Health and Well-Being), 4 (Quality Education), 11 (Sustainable Cities and Communities) :
- For the continuous growth of their operations, Japan Post Group operates businesses through a community-based post offices network
- They aim to contribute to the capability of people of all generations to realize healthy, fulfilling lives by creating value that is useful in the development and revitalization of local communities.
- The foundation of their operations is based on ensuring that their business activities coexist in harmony with local communities.
SDG 8 : Decent Work and Economic Growth
- As the working-age population continues to decrease due to the declining birthrate and aging population, for the continued operation of their businesses and growth into the future, the Japan Post Group believes in the development of organizations and systems that enables each employee to engage in business activities to fully demonstrate their capabilities.
- Japan Post Group employs a large number of people in Japan and other countries, and as such they believe that they can contribute to creating diverse and inclusive work environments throughout society by pursuing better workplace environments of their own and improving the job satisfaction of their employees.
SDG 13 (Climate Action), 15 (Life on Land) :
- Japan Post Group believes that humanity’s intensifying economic activity is one cause of the environmental issues, such as climate change, global warming, deforestation, and the loss of resources that we face.
- The group strives to reduce the impact of their business activities on the global environment, in order to continue to operate their businesses and achieve growth into the future.
Japan Post Bank is demonstrating continuous progress towards sustainable development through the publishing of regular sustainability reports. However, while the bank reports its progress in areas of sustainability, its goals are not measurable nor clear.
Their reduction of greenhouse gas emissions by 16% as part of their FY2030 reduction target demonstrates that the Group clearly works towards mitigating climate change. The bank also received several noteworthy awards for its advances.
Their LEED Gold certificates as well as their commitment to global initiatives such as UN Global Compact and Task Force on Climate-related Financial Disclosures (TCFD) are noteworthy.
Their compliance with several of the UN Sustainable Development Goals also shows that the Group is paving the way to sustainable financing. However, the bank’s compliance with these goals is too little, relative to other banks.
For these reasons, Japan Post Bank has been rated a C.
Analyst Outlook Neutral
Whilst Japan Post Bank is clearly working towards sustainability, the Group would benefit from earning more certificates and awards that validate their progress, as well as complying with more UN Sustainable Development Goals in order to achieve a higher ranking. For these reasons, our outlook is Neutral.
- LEED Gold certification
- Commitment to UN Global Compact and Task Force on Climate-related Financial Disclosures (TCFD)
- Special Award at the 18th Green Partnership Conference
- 13.7% decrease of CO₂ at the end of 2019