MUFG Bank
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OVERALL |
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Owned |
JPN |
Rating |
N/A |
Banking
The largest bank in Japan. Established in 2006 as the Bank of Tokyo-Mitsubishi UFJ Ltd when the Bank of Tokyo-Mitsubishi and UFJ Bank merged. Changed its name to MUFG Bank in 2018.
Company Ownership
MUFG Bank Ltd | JPN | website | ||||
Mitsubishi UFJ Financial Group Inc
owns 100% of MUFG Bank Ltd |
JPN | website | ||||
Banking and financial services Japan's biggest bank |
Company Assessment
PRAISE | CRITICISM | INFORMATION | ||
MUFG Bank Ltd | ||||
The Equator Principles (EPs) are a set of guidelines, based upon the Performance Standards and guidelines from the IFC, the World Bank's private sector lending arm for private banks to assess and mitigate risks in project finance. Banks use the Principles to guide internal operating procedures for transaction for specific projects. Although the EPs are an important step to raise overall standards of financiers and projects in the developing world, they currently fall short on transparency and governance requirements.
Source: Equator Principles (2018)
According to data released by the Australian Tax Office in Jan 2022, this company was one of many local and foreign-based companies that paid no tax in Australia in 2019-20. Please note however that companies pay income tax on profits, not revenue (total income). While some companies use tax havens and loopholes to avoid paying their fair share of tax in Australia, other companies that paid no tax have perfectly legitimate reasons.
Source: ATO (2022) |
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Mitsubishi UFJ Financial Group Inc | ||||
In 2023, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to reduce greenhouse gas emissions and mitigate climate change risk. Responding companies are scored across four key areas: disclosure; awareness; management; and leadership. This company received a CDP Climate Change score of A-.
Source: CDP (2023)
This company received an S&P Global ESG Score of 62/100 in the Banks category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 21 Oct 2022). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Source: S&P Global (2022) |
In 2015 the Fair Finance Guide ranked the top financiers of selected fossil fuels companies (loans & underwriting) and compared it to their financing of renewable energy. This bank appeared 8th in the list of top 25 fossil fuel funders, after providing US$50 billion for fossil fuels and only US$7.5 billion for renewable energy between 2009 and 2014.
Source: Fair Finance (2015)
This bank is the world's 6th largest provider of loans and underwriting for single-use plastic polymer production, according to Minderoo Foundation's 2021 Plastic Waste Makers Index. Institutional asset managers and global banks are providing billions of dollars to companies that produce polymers from fossil fuels, as much as 100 times more than they provide to companies trying to shift to a circular economy. Plastic pollution is one of the biggest, most urgent threats facing our planet and our health.
Source: Minderoo Foundation (2021)
The 2021 report "Banking on Climate Chaos" analyses the world's 60 largest banks and their financing of tar sands oil, Arctic oil, offshore oil and gas, LNG, coal mining, and coal-fired power between 2016 and 2020. This bank invested US$147.7 billion between 2016 and 2020, making it the world's 6th worst fossil fuel funder.
Source: RAN (2021)
Rainforest Action Network's 2022 report and scorecard "Keep Forests Standing" assessed 17 brands and banks on their efforts to address their contribution to the destruction of forests, ongoing land grabs, and violence against local and Indigenous communities. This bank was identified as one of the worst offenders, receiving an 'F' grade in the evaluation.
Source: RAN (2022)
The 2018 update of the International Campaign to Abolish Nuclear Weapons' (ICAN) global report, "Don't Bank on the Bomb" showed that 329 financial institutions from around the world invested into 20 companies involved in the production, maintenance and modernization of nuclear weapons. Since 2014 this financial institution invested over US$8 billion into 20 of the 20 nuclear weapons producers named in the report.
Source: ICAN (2018)
Portfolio Earth's 2020 report, "Bankrolling Extinction" outlines the banking sector's role in the global biodiversity crisis. In 2019, the world's largest banks invested more than USD 2.6 trillion in sectors which governments and scientists agree are the primary drivers of biodiversity destruction. This bank is one of the world's ten largest providers of loans and underwriting linked to direct and indirect biodiversity impact risks.
Source: Portfolio Earth (2020)
Forest 500 identifies the 350 companies and 150 financial institutions with the greatest exposure to tropical deforestation risk, and annually assesses them on the strength and implementation of their deforestation and human rights commitments. This financial institution received a score of 29%.
Source: Forest 500 (2022)
Fair Finance Guide International's 2015 report about transparency and accountability in the Financial Sector assessed and scored banks on four key aspects: publication of policies and risk management; disclosure of investments; reporting on engagement with companies and voting behaviour; and stakeholder dialogue. The report also scored those banks on their transparency on tax-related issues, including the extent to which they provided detailed, country-by-country information on key indicators on transparency and tax. The report places assessed banks in three categories: leaders, followers and laggards. This bank scored 4.1/10 (Follower) on the Transparency and Accountability theme, and 0.8/10 (Laggard) on the Taxes and Corruption theme.
Source: Fair Finance Guide (2015)
The 2022 Financial System Benchmark ranks 400 financial institutions across three measurement areas: governance and strategy, respecting planetary boundaries (environment, climate and biodiversity) and adhering to societal conventions (human rights). This company ranked #65/400, with a total score of 24.4/100.
Source: World Benchmarking Alliance (2022) |
This Nov 2011 report by a group of NGOs examines the financing of 31 major coal-mining companies and 40 producers of coal-fired electricity by 93 banks since 2005, the year the Kyoto Protocol came into force. This bank appears seventeenth on their list of 'Top Twenty Climate Killer Banks'. The NGOs are calling on the banks to shift their portfolios to renewables and energy efficiency and set and implement ambitious CO2 reduction goals for their financed emissions. [Listed under Information due to age of report]
Source: Banktrack (2011)
Mitsubishi UFJ appeared at #23 in a list of banks backing expansion in the tar sands. They have loaned US$44 million to companies operating in the Canadian tar sands since 2007, according to Bloomberg. Extracting oil from tar sands produces between 3 and 5 times the greenhouse gas pollution of conventional oil production, pollutes water, destroys forests, and uses huge amounts of energy to process. [Listed under Information due to age of report]
Source: RAN (2010)
This company received a score of 46.1/100 in the Newsweek Green Ranking 2017, which ranks the world's largest publicly traded companies on eight indicators covering energy, greenhouse gases, water, waste, fines and penalties, linking executive pay to sustainability targets, board-level committee oversight of environmental issues and third-party audits. Ranking methodology by Corporate Knights and HIP Investor.
Source: Newsweek (2017)
This company appears on the 2021 Bloomberg Gender-Equality Index, signifying a commitment to supporting gender equality through policy development, representation, and transparency.
Source: Bloomberg (2021)
BankTrack is a global network of civil society organisations and individuals tracking the operations of the banking sector and the activities they finance. BankTrack aims to promote fundamental changes in the banking sector so that banks adopt just and sustainable business practices. Follow the link to see this bank's profile.
Source: BankTrack (2018) |
Company Details
Type | Wholly-owned subsidiary |
Revenue | 49.2 billion USD (2016) |
Contact Details
Address | Tokyo, Japan |
Website | www.bk.mufg.jp/global/ |