How Can Banks Promote Sustainable Business? Masahiko Kato, President ＆CEO, Mizuho Bank, Ltd #FII7

🎥 Oct 24, 2023 📺 FII Institute ⏱ 8m 👁 243 views

"How Can Banks Promote Sustainable Business?" took place at the Future Investment Initiative 7th Edition on October 24th, 2023. The global shift towards sustainable finance is bringing about changes in the values and ethics of the finance industry and beyond, with renewable energy playing a leading role. According to Bloomberg, global new investment in renewable energy skyrocketed to $358 billion in the first six months of 2023, a 22% rise compared to the start of last year and an all-time high for any six-month period. Given this rapid growth, what role does renewable energy play in driving...

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About Masahiko Kato

Masahiko Kato, President and CEO of Mizuho Bank, spoke at the Future Investment Initiative (FII) conferences in 2023 and 2024 about the bank's role in Saudi Arabia's economic transformation and sustainable finance. At FII8 in October 2024, Kato stated that Mizuho had arranged various capital market transactions for Saudi government-related entities and had supported approximately $350 billion to Saudi Arabia since 2015. He announced that Mizuho would establish a regional headquarters in the King Abdullah Financial District (KFD) in Riyadh, which he described as the first Asian bank to do so in Saudi Arabia. Kato also noted that Mizuho had set a target of providing $30.5 billion in hydrogen-related finance by 2030 and had participated in the NEOM green ammonia project as a tier one lender. At FII7 in October 2023, Kato discussed Mizuho's role in promoting sustainable business, stating that the bank ranked number one globally in the sustainable finance syndicated loan league tables for the previous fiscal year. He highlighted Japanese technologies in clean energy, hydrogen transportation, and clean iron, and said Mizuho aimed to serve as a bridge between Japan and Saudi Arabia by introducing clients and technologies to both countries. Kato emphasized that Mizuho had been operating in Saudi Arabia for over 60 years and had a strong presence in sustainable finance.

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Transcript (1 segments)

Masahiko Kato0:00

Good afternoon, I'm Masahiko Kato, CEO of Mizuho Bank, a Japanese global bank. I'm grateful to share my thoughts on how banks promote sustainability. Decarbonization is an essential part of doing business globally. Japan enjoys strong ties with Saudi Arabia, importing 19% of our crude oil from the Middle East. We've signed the Lighthouse Initiative for clean energy supply chains, and Prime Minister Kishida visited the Middle East this year to sign multiple MOUs. I'll highlight three Japanese technologies: first, Stach Energy for international transmission lines; second, Kawasaki Heavy Industries' liquid hydrogen transport; third, direct reduced iron technology from Kobe Steel and Midrex to decarbonize steel production. These technologies can support a clean supply chain. Mizuho has been in Saudi Arabia for over 60 years, and we rank number one globally in sustainable finance syndicated loans, having participated in the NEOM green ammonia project as a tier one lender. We also play an advisory role in decarbonization and renewable energy. We aim to be Saudi Arabia's best partner for a prosperous future. Thank you.