Annual Review of MUFG Green Deposit Framework Completed

Rhea-AI Summary

Mitsubishi UFJ Financial Group (MUFG) has updated its Green Deposit Framework in collaboration with Morningstar Sustainalytics, focusing on aligning financing criteria for green assets with market standards. Following a launch in February 2021 in the U.S., Green Deposits are now available in Australia, China, Hong Kong, and Japan. The framework supports environmentally sustainable projects, including renewable energy and energy efficiency. An annual review ensures adherence to industry best practices, with the first review for 2021 completed in April 2022.

Positive

• Expansion of Green Deposits into new markets including Australia, China, Hong Kong, and Japan.
• Strong client interest in Green Deposits supporting sustainable projects.
• Independent validation of the Green Deposit Framework meeting industry standards.

Negative

• None.

NEW YORK, July 19, 2022 /PRNewswire/ -- Mitsubishi UFJ Financial Group (MUFG) today announced that it has updated its Green Deposit Framework in collaboration with Morningstar Sustainalytics, a leading global provider of Environmental, Social, and Governance (ESG) research, ratings, and data. The goal of the Framework is to ensure that the criteria for financing green assets aligns with the current market practice. In addition, following the February 2021 launch in the United States, Green Deposits are now available for MUFG commercial and corporate clients in Australia, China, Hong Kong, and Japan.

Green Deposits enable MUFG clients to support sustainable projects that benefit the environment. With Green Deposits, clients can place deposits knowing their investments support lending for ESG initiatives. MUFG uses the deposited funds to finance green projects such as energy efficiency, renewable energy, green transport, sustainable food, and greenhouse gas reduction, among many others.

On an annual basis, MUFG's eligible assets and Green Deposit portfolios are reviewed by Morningstar Sustainalytics to ensure alignment with industry best practices and standards. The first MUFG Green Deposits Framework review for the calendar year 2021 was completed in April 2022.

"As information on environmental matters evolve, MUFG is committed to reviewing the Green Deposit Framework each year, with support from Sustainalytics, to evaluate and determine if any changes need to be made to qualifying activities," said Olu Adebiyi, Liquidity Product Head, Transaction Banking Americas. "We are pleased to receive independent validation that our Green Deposit Framework meets industry standards. Interest in Green Deposits remains strong, and we continue to expand this offering into new geographies."

To learn more about MUFG's Green Deposits, visit https://mufgamericas.com/what-we-do/transaction-banking.

About Mitsubishi UFJ Financial Group, Inc.'s U.S. Operations including MUFG Americas Holdings Corporation

The U.S. operations of Mitsubishi UFJ Financial Group, Inc. (MUFG), one of the world's leading financial groups, has total assets of $332.4 billion at March 31, 2022. As part of that total, MUFG Americas Holdings Corporation (MUAH), a financial holding company, bank holding company, and intermediate holding company, has total assets of $159.2 billion at March 31, 2022. MUAH's main subsidiaries are MUFG Union Bank, N.A. and MUFG Securities Americas Inc. MUFG Union Bank, N.A. provides a wide range of financial services to consumers, small businesses, middle-market companies, and major corporations. As of March 31, 2022, MUFG Union Bank, N.A. operated 297 branches, consisting primarily of retail banking branches in the West Coast states. MUFG Securities Americas Inc. is a registered securities broker-dealer which engages in capital markets origination transactions, domestic and foreign debt and equities securities transactions, private placements, collateralized financings, and securities borrowing and lending transactions. MUAH is owned by MUFG Bank, Ltd. and Mitsubishi UFJ Financial Group, Inc. MUFG Bank, Ltd., a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc., has offices in Argentina, Brazil, Chile, Colombia, Peru, Mexico, and Canada. Visit www.unionbank.com or www.mufgamericas.com for more information.

About MUFG

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 approximately 2,500 locations in more than 50 countries. The Group has about 170,000 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.

Press contact:
Jane Yedinak
Direct: 415-773-2497
JYedinak@us.mufg.jp

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SOURCE MUFG

FAQ

What are MUFG's Green Deposits?

MUFG's Green Deposits allow clients to support sustainable projects, with funds used for financing initiatives like renewable energy and energy efficiency.

When was the MUFG Green Deposit Framework reviewed?

The first annual review of the MUFG Green Deposit Framework for 2021 was completed in April 2022.

In which countries are MUFG's Green Deposits available?

As of now, MUFG's Green Deposits are available in Australia, China, Hong Kong, Japan, and the United States.

Who collaborated with MUFG on the Green Deposit Framework?

MUFG collaborated with Morningstar Sustainalytics to update its Green Deposit Framework.

What is the purpose of MUFG's Green Deposit Framework?

The purpose of the Green Deposit Framework is to ensure financing for green assets aligns with current market practices.