UTokyo and MUFG agree to collaborate towards realizing carbon neutrality
The University of Tokyo and Mitsubishi UFJ Financial Group, Inc. (MUFG) on June 17, 2021 announced that they have agreed to form a partnership towards realizing carbon neutrality.
As society focuses on the environment and particularly on the large impact of global warming and climate change, efforts towards achieving decarbonization by the middle of this century are gaining momentum in countries around the world, and in October 2020 the Japanese government pledged that it would achieve carbon neutrality by 2050. We are actively supporting this global initiative to protect the future for the next generation.
The University of Tokyo (Institute for Future Initiatives), recognizing that the huge environmental burden due to our current economic systems is causing global warming and biodiversity loss and destroying the stable Earth systems which are the common basis of human prosperity (the Global Commons)1, established the Center for Global Commons (CGC) in August 2020 with the aim of establishing responsible ways to manage the Global Commons (the Global Commons Stewardship) in collaboration with diverse stakeholders across borders.
To achieve this goal, the CGC is working with domestic and international research partners to scientifically determine pathways of social and economic system transformation, while conducting relevant practical research via various business-academia partnerships.
MUFG has defined its purpose as “Committed to empowering a brighter future.” and its business activities are driven by the determination to make every effort to empower all its stakeholders to take the next step forward. In order to lead the way towards solutions for climate change, one of the most serious issues facing the world, MUFG announced the MUFG Carbon Neutrality Declaration in May 2021. MUFG shares its customers’ goal of achieving decarbonization, and as a financial institution will actively engage in initiatives to support their efforts towards decarbonization and in technological innovation.
Furthermore, MUFG feels empathy for and agrees with the CGC’s activities, which contribute to the achievement of the MUFG Carbon Neutrality Declaration, and will support its undertakings through donations from the five core companies of the MUFG Group2 over the next three years.
Under this partnership, the University of Tokyo and MUFG will conduct joint research for exploring the pathway of Japan’s decarbonization and the role of finance in realizing it. This research analyzes visions for decarbonization in industrial sectors and paths of social and economic system transformation scientifically as well as quantitatively and aims to contribute to the achievement of carbon neutrality, by combining scientific study and the international research network of the University of Tokyo with MUFG’s financial knowledge. The results of this research are planned to be made public within fiscal year 2022.
Through this partnership, the University of Tokyo and MUFG will work together towards the creation of sustainable social and economic systems.
Photo (from left)
Akira Watanabe (MUFG Head of Sustainability Office), Tadashi Yamamoto (MUFG Head of Corporate Planning), Hironori Kamezawa (MUFG President and CEO), Teruo Fujii (UTokyo President), Naoko Ishii (UTokyo Director of Center for Global Commons) and Hideaki Shiroyama (UTokyo Director of Institute for Future Initiatives)
1 The Center for Global Commons integrates the learnings of the University of Tokyo with the knowledge of international partner institutions to research and develop the Global Commons Stewardship Initiative (GCSi), an intellectual framework for protecting the global commons consisting of frameworks, indices, pathways and governance models.
2 MUFG Bank, Ltd., Mitsubishi UFJ Trust and Banking Corporation, Mitsubishi UFJ Securities Holdings Co., Ltd., Mitsubishi UFJ NICOS Co., Ltd., ACOM CO., LTD.
About The University of Tokyo
The University of Tokyo was established in 1877 as the first national university in Japan. As a leading research university, the University of Tokyo offers courses in essentially all academic disciplines at both undergraduate and graduate levels and conducts research across the full spectrum of academic activity. The University aims to provide its students with a rich and varied academic environment that ensures opportunities for both intellectual development and the acquisition of professional knowledge and skills.
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with around 2,500 locations in more than 50 countries. The Group has over 180,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english.
The University of Tokyo Institute for Future Initiatives
Center for Global Commons
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Mitsubishi UFJ Financial Group, Inc.