NRI, a provider of consulting services and system solutions, began offering the service for net-zero financed emissions commitment.
As mentioned in the announcement, the service combines solutions that “analyze financed emissions and consulting services that help financial institutions develop and achieve net-zero portfolios.”
In order to achieve a sustainable society, the financial services sector has taken various initiatives like “measuring financed emissions and establishing decarbonization goals.” For example, the Net Zero Banking Alliance, formed in April 2021, commits to “reaching net-zero carbon emissions by 2050.”
Also, the Task Force on Climate-Related Financial Disclosures (TCFD), of which many Japanese financial institutions are members, “recommends climate-related financial disclosures including governance, strategy, risk management, and metrics and targets.”
Using NRI’s service allows financial institutions to “adopt a standardized calculation method for financed emissions and formulate strategies to achieve a net-zero portfolio,” the update explained.
Financed Emissions Analysis Solution:
- Organizes financed emissions estimate data, using NRI’s expertise in analyzing non-financial data and cleansing data (available from April 2022).
- Provides a standard calculation method, considering Partnership for Carbon Accounting Financials (PCAF) rules and other updates (available from April 2022)
- Provides a decarbonization pathway and technology roadmap based on NRI’s experience in consulting for public and private sector (available in 2022)
Consulting Service
- Support measurement and emissions analysis across the supply chain of the banks’ financing clients
- Support establishment of a decarbonization policy and goals
- Support reporting to industry organizations such as CDP and TCFD
NRI has reportedly been offering the consulting service to Hokuhoku Financial Group’s The Hokuriku Bank, Ltd. and The Hokkaido Bank, Ltd. since December of last year. NRI is currently “conducting a proof-of-concept on the solution, and we plan to make the solution available for all our clients from April 2022.”
In December 2021, Nomura Research Institute, Ltd. (NRI) had announced that Nomura Research Institute Holdings America, Inc. (Head Office: New York, New York, USA., hereinafter ‘NRI-HA’), a wholly-owned subsidiary and NRI’s regional headquarters in the Americas, has finalized the acquisition of 100% shares of Convergence Technologies, Inc. (Head Office: Indianapolis, Indiana, USA., hereinafter ‘CT’), the parent company of Core BTS, Inc. (Head Office: Indianapolis, Indiana, USA., ‘Core BTS’).