Japan's best bank for CSR 2021: MUFG Bank
The MUFG Group has increasingly put corporate social responsibility at the core of its operations, making it Asiamoney’s best bank for CSR in 2021.
In April 2021, for instance, it defined its purpose as being “committed to empowering a brighter future”. To that end, it unveiled a medium-term business plan with that purpose as the driving force, in order to emphasise resolving environment and social issues.
Over the course of 2021, the group as a whole, and MUFG Bank in particular, took steps to show their commitment to sustainability and CSR. In November, MUFG Bank and Mitsubishi UFJ Trust and Banking became founding signatories to the Japan Impact-driven Financing Initiative, which focuses on fixing social and environmental issues through investments. In September, MUFG Bank set up a new company, called Z Energy Co, with eight partners, and launched the Renewable Energy Fund to build (and promote the importance of) renewable energy globally.
MUFG Bank, led by chief executive and president Junichi Hanzawa, invested in a ¥70 billion ($612 million) sustainability Woven Planet Bond sold by Toyota Motor Corp in March 2021. Money from the bond will go towards environmental and social projects.