The United Nations Development Programme (UNDP) and the Mizuho Financial Group have announced a strategic partnership aimed at significantly enhancing sustainable finance initiatives throughout Japan and Asia. This collaboration follows Mizuho’s ambitious plan to raise USD 700 billion in sustainable finance by 2030.
Partnership Goals
The partnership intends to broaden sustainable and impact finance initiatives that tackle various societal and environmental challenges, thereby strengthening economic infrastructure and promoting socioeconomic sustainability. Both organizations aim to integrate sustainability into business strategies and operations to achieve the Sustainable Development Goals (SDGs).
UNDP has prioritized engaging the private sector to mobilize essential resources and escalate efforts to achieve the SDGs. Its SDG Finance Team at the Regional Bureau for Asia and the Pacific (RBAP), along with the Sustainable Finance Hub, has developed service lines to help businesses and investors align their investments with the SDGs. These services focus on creating impact-driven investment frameworks that are integrated throughout the investment cycle.
In 2022, Mizuho became the first global company to engage in UNDP’s “SDG Impact Standards Training,” enhancing its capacity to assist a wide range of customers in impact finance. The group published its “Impact Business Compass” in May 2024, which outlines its strategic approach to impact opportunities and becoming an impact business.
Advancing Initiatives Together
Through this partnership, Mizuho aims to establish positive cycles that generate both SDG impacts and corporate value. UNDP will provide comprehensive advisory services to enhance Mizuho’s sustainable investment strategies, operations, and project identification.
Key components of this partnership include:
- Developing a sustainable investment strategy for Mizuho that adheres to international standards and best practices.
- Supporting the creation of sustainable product offerings, policies, and operational procedures.
- Identifying and prioritizing investment opportunities that contribute to the SDGs.
Kanni Wignaraja, UNDP’s Regional Director for Asia and the Pacific, emphasized the importance of private capital in achieving progress across the SDGs: “Our partnership with the Mizuho Financial Group underscores the vital role and compelling business case for investing in areas like climate change, biodiversity, and social equity.” She expressed hope that this collaboration would inspire other financial institutions to follow Mizuho’s example.
Yasuhiko Ushikobo, Executive Officer and Head of the Research and Consulting Unit at Mizuho, articulated the importance of incorporating social and environmental factors into corporate decision-making: “Achieving a sustainable society requires internalizing externalities into decision-making. Through this partnership, Mizuho will work with the UNDP to promote its impact business not only in Japan but globally.”
About the Organizations
United Nations Development Programme (UNDP): As the UN’s lead agency for international development, UNDP operates in 170 countries and territories, focusing on eradicating poverty and reducing inequality. Its work centers around six signature development solutions, including poverty and inequality, governance, resilience, environment, energy, and gender equality.
Mizuho Financial Group: With over 150 years of banking experience and a presence in more than 100 locations worldwide, Mizuho is one of the world’s largest financial services groups, employing approximately 65,000 individuals globally.
Related Topic:
Interim Finance under IBC: Opportunities and Challenges
Spain Proposes Mini-Coalitions to Break EU Capital Markets Stalemate
Six Critical Steps for Success in AI-Driven Behavioral Finance
