MUFG Bank response to Line 3 construction
We decline to comment on specific transactions. In general, when financing a transaction, MUFG makes its decision upon careful internal discussions after confirming that the transaction is consistent with the MUFG Environmental and Social Policy Framework.
Also, MUFG Bank is a signatory to and complies with the Equator Principles, which is an international framework for addressing environmental and social concerns when financing projects, including infrastructure and natural resource development projects.
MUFG considers sustainability initiatives, including measures to cope with climate change, one of its most important management issues and identifies ten issues to be prioritized through its business activities, and “Response to climate change & environmental protection” is one of the ten priority issues. Moreover, MUFG aims to contribute to environmental and social sustainability and help realize United Nations Sustainable Development Goals (SDGs) through financial services. We have committed to extending a total of ¥35 trillion for sustainable financing over a period spanning fiscal 2019 through fiscal 2030 (of this, ¥18 trillion will be used for environmental finance). Over the period from fiscal 2019 to fiscal 2020, we made significant progress, extending a total of ¥7.9 trillion (of this, ¥3.5 trillion was used for environmental finance).
Through these efforts, we will contribute to the achievement of international goals including as the SDGs and the Paris Agreement.