Toward Achieving Net Zero Emissions

Nomura Group is working to expand business opportunities as well as identify and appropriately manage risks associated with climate change in order to quickly realize a decarbonized society.

Fundamental Approach

Nomura recognizes that climate change is an important global issue and agree in the Paris Agreement, aiming to limit global temperature increases to well below 2°C, and striving for 1.5°C, above pre-industrial levels. In September 2021, to support the transition towards a decarbonized economy, we established and announced a roadmap to achieve “net zero” by FY2030/31, targeting net-zero greenhouse gas (GHG) emissions from our own operations, and by FY2050/51 for our investment and loan portfolios. This roadmap is part of our efforts to achieve a decarbonized society. To support our clients' efforts toward transition to a decarbonized society, we aim to deploy US$125 billion in sustainable finance.

Our Targets

1. Achieve Net Zero Greenhouse Gas (GHG) Emissions from Own Operations by FY2030/31

We will continue our efforts to reduce emissions and promote energy efficiency, while gradually increasing our use of renewable energy. Our goal is to transition 100% of our electricity consumption to renewable energy sources, achieving net-zero emissions by FY2030/31.
We will exceed a 70% renewable energy adoption rate by FY2025/26 and reach 100% by FY2030/31.
If any residual emissions remain by the end of FY2030/31, we plan to offset them through carbon credits or other mechanisms.

2. Achieve Net Zero GHG Emissions from our investment and loan portfolio by FY2050/51

Nomura Holdings is committed to achieving Net Zero GHG Emissions from our investment and loan portfolio by FY2050/51.
To achieve this, we will promote the following initiatives:

We will provide products and services that support our clients' transition to a decarbonized society.
We will support decarbonization initiatives of businesses, industries, and governments, taking into account scientific methods and social impacts.
We will support the development of innovations, technological advancements, and climate change solutions.

Nomura Asset Management (NAM) the core company within the Investment Management Division is a member of the Net Zero Asset Managers initiative (NZAM))^*1, a global initiative of asset management companies, which also aims to achieve net-zero GHG emissions from its investment portfolio by 2050.

3. Engage in sustainable finance^*2

We aim to deploy $125 billion in sustainable financing projects over the five years to March 2026 in order to help clients transition to a decarbonized society.

1 Net Zero Asset Managers initiative
An initiative of asset management companies, which also aims to achieve net zero GHG emissions from its investment portfolio by FY2050/51.

2 Sustainable finance
The target of US$125 billion in sustainable finance includes public and private equity, bonds, and mezzanine debt financing, as well as infrastructure project financing.

Net-Zero Transition Plan

To realize a sustainable society, we committed to work to achieve net zero GHG emissions from our own operations by FY2030/31 and net zero GHG emissions from our lending and investment portfolios by FY2050/51.

Roadmap to realize a decarbonized society

Scopes 1, 2, and 3 follow the classifications in the GHG Protocol. (https://www.ghgprotocol.org/)

1: FY2022/23 Target: Over 50%; FY2025/26 Target: Over 70%; FY2030/31 Target: 100%

2: A 55% SBT portfolio coverage ratio refers to 55% (by weight) of the portfolio companies in Nomura Asset Management's investment portfolio having attained SBT approval.

3: FY2021/22 - FY2025/26 five year accumulated total

We set targets for creating a sustainable future while serving the best interest of our clients and other stakeholders. As we work towards achieving these objectives, they are contingent upon various conditions and factors, some of which are within our sphere of influence while others are not. These include potential implications of legal and regulatory requirements, the importance of implementing effective climate policies, the necessity for technological progress, shifts in consumer behavior and demand, and the challenge of harmonizing short-term goals with the need to ensure a just transition and maintain energy security. mplementing effective climate policies, the necessity for technological progress, shifts in consumer behavior and demand, and the challenge of harmonizing short-term goals with the need to ensure a just transition and maintain energy security.

Achieve a Sustainable Society through Business Activities

We provide value-added advice to our clients based on a high level of expertise, and supports clients in their initiatives for a wide variety of sustainability issues through the financial capital market.

Building a Sustainable World

Sustainable Finance

Address Environmental Issues by Our Own Efforts

In order for Nomura itself to remain a sustainable entity as a financial services group that supports sustainability initiatives, Nomura is actively working to reduce its environmental impact and enhance its governance.

Environmental Management

Efforts to Address Climate Change

Our initiatives to reduce GHG emissions from our lending and investment portfolio - Scope3 Cat15

We intend to achieve net-zero GHG emissions from our lending and investment portfolio (Scope 3 Category 15, Financed Emissions) by FY2050/2051.

In February 2023, we set and announced a 2030 interim target for the Power Generation sector, which accounts for the largest share of our financed emissions by sector, and in March 2024, we published our Net Zero Transition Plan to achieve net zero in financed emissions. In order to achieve our interim target for the Power Generation sector, we established a governance structure to monitor emissions, and are maintaining and managing the ratio of renewable energy-related lending and investments. In addition, in December 2024, we set interim targets for the Automotive sector and the Commercial Real Estate sector, following the Power Generation sector.

Nomura Asset Management (NAM) has established a 2050 Net Zero Goal as well as a 2030 Interim Target. Under the 2050 Net Zero Goal, NAM will work to achieve net-zero GHG emissions both from its own business operations as well as for assets under management (investment portfolio). Under the 2030 Interim Target, NAM will work to ensure that by 2030 55% of investment portfolio assets are being approved by SBTi. NAM will verify and report on the track record with regard to these targets in accordance with the methodology recognized and endorsed by NZAM.

Responsible Investment Report

Response to TCFD Recommendations

Nomura Group supports the Task Force on Climate-related Financial Disclosures (TCFD). Nomura organizes and discloses initiatives on climate change risks and opportunities in accordance with the four basic disclosure items recommended by TCFD: Governance; Strategy; Risk Management; and Metrics and Targets. Due to our business model, the impact of climate change on our company's finances is limited. As a financial services group, we also recognize that there are business opportunities and growth opportunities in supporting our customers' efforts on climate change. For more information, please refer to the Nomura Sustainability Report 2024.

Nomura Sustainability Report