University of Tokyo: UTokyo and MUFG agree to collaborate towards realizing carbon neutrality
The University of Tokyo and Mitsubishi UFJ Financial Group, Inc. (MUFG) on June 17, 2021 announced that they have agreed to form a partnership towards realizing carbon neutrality.
As society focuses on the environment and particularly on the large impact of global warming and climate change, efforts towards achieving decarbonization by the middle of this century are gaining momentum in countries around the world, and in October 2020 the Japanese government pledged that it would achieve carbon neutrality by 2050. We are actively supporting this global initiative to protect the future for the next generation.
The University of Tokyo (Institute for Future Initiatives), recognizing that the huge environmental burden due to our current economic systems is causing global warming and biodiversity loss and destroying the stable Earth systems which are the common basis of human prosperity (the Global Commons)1, established the Center for Global Commons (CGC) in August 2020 with the aim of establishing responsible ways to manage the Global Commons (the Global Commons Stewardship) in collaboration with diverse stakeholders across borders.
To achieve this goal, the CGC is working with domestic and international research partners to scientifically determine pathways of social and economic system transformation, while conducting relevant practical research via various business-academia partnerships.
MUFG has defined its purpose as “Committed to empowering a brighter future.” and its business activities are driven by the determination to make every effort to empower all its stakeholders to take the next step forward. In order to lead the way towards solutions for climate change, one of the most serious issues facing the world, MUFG announced the MUFG Carbon Neutrality Declaration in May 2021. MUFG shares its customers’ goal of achieving decarbonization, and as a financial institution will actively engage in initiatives to support their efforts towards decarbonization and in technological innovation.
Furthermore, MUFG feels empathy for and agrees with the CGC’s activities, which contribute to the achievement of the MUFG Carbon Neutrality Declaration, and will support its undertakings through donations from the five core companies of the MUFG Group2 over the next three years.
Under this partnership, the University of Tokyo and MUFG will conduct joint research for exploring the pathway of Japan’s decarbonization and the role of finance in realizing it. This research analyzes visions for decarbonization in industrial sectors and paths of social and economic system transformation scientifically as well as quantitatively and aims to contribute to the achievement of carbon neutrality, by combining scientific study and the international research network of the University of Tokyo with MUFG’s financial knowledge. The results of this research are planned to be made public within fiscal year 2022.
Through this partnership, the University of Tokyo and MUFG will work together towards the creation of sustainable social and economic systems.