Key Impact Points:
- UNDP and Mizuho aim to raise $700 billion in sustainable finance by 2030 to address societal and environmental challenges.
- The partnership will integrate sustainability into business strategies, enhancing socioeconomic sustainability and supporting the SDGs.
- Mizuho will leverage UNDP’s expertise to develop impactful investment strategies and sustainable product offerings.
Strategic Partnership for Sustainable Finance
The United Nations Development Programme (UNDP) has partnered with Mizuho Financial Group to scale sustainable finance across Japan and Asia. This collaboration follows Mizuho’s commitment to raise USD 700 billion in sustainable finance by 2030, focusing on resolving societal and environmental issues while enhancing socioeconomic sustainability.
Mobilizing Resources for the SDGs
UNDP is prioritizing private sector engagement to mobilize resources for achieving the Sustainable Development Goals (SDGs). Its SDG Finance Team and Sustainable Finance Hub are introducing service lines to help businesses align investments with the SDGs, emphasizing impact-driven investment frameworks throughout the investment cycle.
Advancing Impact Finance Initiatives
Mizuho became the first global company to participate in UNDP’s “SDG Impact Standards Training” in 2022, enhancing its capacity for impact finance. The launch of Mizuho’s “Impact Business Compass” in May 2024 reflects its commitment to integrating impact into its business model. Kanni Wignaraja, UNDP’s Regional Director for Asia and the Pacific, stated, “Private capital investments at scale are essential to see accelerated progress across the Sustainable Development Goals.”
Change the World - Subscribe Now
Comprehensive Advisory Support
Through this partnership, UNDP will provide Mizuho with advisory services to enhance its sustainable investment strategy and project identification. Key areas of focus include developing a sustainable investment strategy aligned with international standards and creating sustainable product offerings.
Internalizing Externalities for Impact
Yasuhiko Ushikubo, Mizuho’s Chief Sustainability Officer, emphasized the importance of incorporating social and environmental factors into corporate decision-making. He noted, “Internalizing externalities is crucial to fostering a virtuous cycle of impact creation and corporate growth.” This partnership aims to promote Mizuho’s impact business not only in Japan but globally.
Conclusion
The collaboration between UNDP and Mizuho Financial Group sets a precedent for integrating sustainable finance into business practices. By combining financial capabilities with strategic development expertise, this partnership aspires to inspire other financial institutions to invest in transformative change for a sustainable future.
Related Article: UNDP and IBM Launch AI Tools to Advance Global Energy Access
