Revision of "Basic Stance on Lending" ｰOur Initiatives for Socially Responsible Investing and Lendingｰ
December 25, 2020
Resona Holdings, Inc.
Kansai Mirai Financial Group, Inc.
Resona Holdings, Inc. (President: Masahiro Minami) and Kansai Mirai Financial Group, Inc. (President: Tetsuya Kan) hereby announce the revision of "Basic Stance on Lending" stipulated based on "Commitments Towards Achieving the Sustainable Development Goals 2030*1 as of today.
Clarification of Our Stance on Lending to Businesses That Exert a Negative Impact on the Environment
We have added descriptions regarding our stance on lending to businesses that may exert a seriously negative impact on the environment. For example, we have clarified our policy of abstaining from providing new financing to coal mining projects that employ a specific mining method. Putting our revised stance on lending into practice, we will step up our efforts to contribute to the sound and sustainable socioeconomic development of local communities through lending.
Excerpts from the Revised "Basic Stance on Lending"
Added our stance on lending to sectors that may negatively affect society and the environment.
＜Stance on Lending to the entire Businesses or Sectors＞
We will not lend to businesses that exert a seriously negative impact on wetland sites designated by the Ramsar Convention or the World Heritage Sites designated by UNESCO, neither will we provide lending to businesses in violation of the Washington Convention.
With regard to businesses in the below listed categories, we will take a cautious stance toward lending as such businesses have the potential to exert a negative impact on society and the environment. Therefore, we will confirm the status of dealing with being undertaken by clients to mitigate risks prior to lending.
- Businesses that negatively affect indigenous local communities and other areas of high conservation value
- Businesses that entail the involuntary resettlement of residents
＜Stance on Lending to Specific Businesses or Sectors＞
With regard to coal mining projects employing the Mountain Top Removal (MTR) method,*2 we will not provide new financing to such projects because of the seriously negative environmental impact arising from them.
With regard to businesses in the below listed categories, we will take a cautious stance toward lending as such businesses have the potential to exert a negative impact on society and the environment. Therefore, we will confirm the status of dealing with being undertaken by prospective clients to mitigate risks prior to lending.
- Large-scale hydroelectric power generation
- Palm oil farm development
- Oil and gas extraction and pipeline construction
- Wood and paper pulp production and timber harvesting
- *1."Resona Sustainability Challenge 2030", "Kansai Mirai Sustainability Challenge 2030"
- *2.A method used for the surface mining of coal seams in mountain areas. The use of the MTR method entails deforestation, and soil from the mountain top is usually dumped in valleys, rivers and other nearby locations.