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Norinchukin BankJapan
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This profile is actively maintained
Last update: 2024-02-19 00:00:00
Norinchukin Bank, head office Tokyo. Photo: Akonnchiroll via Wikimedia Commons (CC BY SA 4.0)
Active
This profile is actively maintained
Last update: 2024-02-19 00:00:00
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About
| Website | https://www.nochubank.or.jp/en/ |
| Headquarters |
13-2, Yurakucho 1-chome, Chiyoda-ku
100-8420 Tokyo
Japan
|
| CEO/chair |
Kazuto Oku President and CEO |
| Supervisor | |
| Ownership |
The Norinchukin Bank is owned by its members: Japanese agricultural cooperatives, fishery cooperatives, forestry cooperatives, and related federations, as well as other cooperative organisations that have invested in the bank. |
The Norinchukin Bank (also known as Nochu Bank) is a Japanese cooperative bank, headquartered in Tokyo. It was founded in 1923 by the Japanese government to support its agricultural industry. It provides funding for agricultural, fishing and forestry cooperatives. The bank is also one of Japan’s largest institutional investors and invests in bonds, securitisation products, stocks, private equity and real estate, also through its overseas branches in New York, London and Singapore. The Norinchukin Bank adopted the Equator Principles in 2017.
Sustainability
Commitments
Policies
Voluntary standards
Norinchukin Bank's most important sustainability commitments can be found at the website sections listed below.
Norinchukin Bank has committed itself to the following voluntary standards:
Dodgy Deals
Norinchukin Bank is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Norinchukin Bank's link to these deals.
Projects / Companies
Finance type
Year
News
BankTrack
Partners
Blog
External
Resources
Accountability
Grievances
Norinchukin Bank does not operate a complaints or grievances channel for individuals or communities that might have been affected by the bank's finance.
Norinchukin Bank is an Equator Principles signatory. While the Equator Principles have no official grievance mechanism, complaints relating to this bank's financing of Equator Principles projects can be filed through our own website www.equator-complaints.org.
This page evaluates Norinchukin Bank's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".
Impacts reviewed
Responded?
Total score
Response
Action
Monitoring
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Banks and Climate
Banks and Climate
Partner organisation Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in their Coal Policy Tool (CPT) and the Oil and Gas Policy Tracker (OGPT). BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of Norinchukin Bank's fossil fuel policy below.
Tracking the NZBA
Tracking the Net Zero Banking Alliance
Norinchukin Bank is a member of the Net Zero Banking Alliance (NZBA) and has therefore committed to reduce its financed emissions to net zero by 2050; within 18 months of joining the alliance set interim targets for 2030 (or sooner) for high emission priority sectors, and within 36 months set further sector targets; set new intermediary targets every 5 years from 2030 onwards; annually publish data on emissions and progress against a transition strategy including climate-related sectoral policies; and take a robust approach to the role of offsets in transition plans. BankTrack track's implementation of these commitments in the NZBA compliance tracker.
Banks and Steel
Banks and Steel
Partner organisation Reclaim Finance’s 2023 report on metallurgical coal financing showed that Norinchukin Bank provided US$ 5.8 billion in loans and underwriting to developers of new metallurgical coal between 2016 and 2022. Find further details on Norinchukin Bank’s metallurgical coal financing and and how it compares to other large banks globally in the report.
Reclaim Finance tracks the metallurgical coal policies of financial institutions, including banks, in their Coal Policy Tool. BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of Norinchukin Bank’s metallurgical coal policy below.
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