abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb

The content is also available in the following languages: 日本語

Company Response

16 Aug 2021

Author:
Mizuho Financial Group

Mizuho Financial Group response to Line 3 construction

[Japanese-to-English translation: Business & Human Rights Resource Centre]

From the viewpoint of confidentiality, we cannot answer questions regarding individual projects, including whether or not there are transactions and policies for dealing with them. However, based on our investment and loan policy that takes environmental and social considerations into account, Mizuho confirms the customer's response to risk reduction and avoidance based on risks that should be recognized, and then makes decisions on transactions such as investments and loans.

Specifically, it is as follows.
<Policy for the Oil and Gas Sector (Overview)>

  • We are aware that oil and gas mining and pipeline construction could have a negative impact on the environment and society, such as pollution of the oceans and rivers caused by oil and gas spills and violations of human rights by indigenous peoples. When making investments and loans, the government will make transaction decisions paying full attention to the impact on the environment and whether or not there are any problems with indigenous peoples or local communities.
  • Since fossil fuels such as petroleum and gas lead to greenhouse gas emissions, we will confirm the response to the transition risks associated with climate change through engagement with customers.
  • In particular, we recognize that the Arctic Circle (areas north of 66 degrees 33 minutes north of latitude) is a region where the protection of rare organisms and the livelihood of indigenous peoples need to be taken into account, and that oil sands and shale oil gases have a large environmental impact during development and are at risk of human rights violations by indigenous peoples. For this reason, we conduct appropriate environmental and social risk assessments when investing in oil and gas mining projects, oil sands, and shale oil and gas projects in the Arctic.

In addition, we share requests from each stakeholder with related parties within the company and based on this policy, confirm and respond as necessary from the standpoint of environmental and social risks.


For details of Mizuho's "Environmental and Social Management Policy for Financing and Investment Activity" and revisions, please visit the website below.

(Summary of Environmental and Social Management Policy for Financing and Investment Activity)
https://www.mizuho- fg.co.jp/csr/business/investment/pdf/environment_20210601.pdf (Japanese) https://www.mizuhogroup.com/binaries/content/assets/pdf/mizuhoglobal/sustain ability/business-activities/investment/environment_202106.pdf (English)


(Details of Revision)
https://www.mizuho-fg.co.jp/release/20210513release_jp.html (Japanese)

https://www.mizuhogroup.com/news/2021/05/strengthening-our-sustainability- action.html (English)

Timeline

Privacy information

This site uses cookies and other web storage technologies. You can set your privacy choices below. Changes will take effect immediately.

For more information on our use of web storage, please refer to our Data Usage and Cookies Policy

Strictly necessary storage

ON
OFF

Necessary storage enables core site functionality. This site cannot function without it, so it can only be disabled by changing settings in your browser.

Analytics cookie

ON
OFF

When you access our website we use Google Analytics to collect information on your visit. Accepting this cookie will allow us to understand more details about your journey, and improve how we surface information. All analytics information is anonymous and we do not use it to identify you. Google provides a Google Analytics opt-out add on for all popular browsers.

Promotional cookies

ON
OFF

We share news and updates on business and human rights through third party platforms, including social media and search engines. These cookies help us to understand the performance of these promotions.

Your privacy choices for this site

This site uses cookies and other web storage technologies to enhance your experience beyond necessary core functionality.