Better Health for All

Mizuho Financial Group's core business activities, such as banking, lending, and securities, are considered to have a neutral direct impact on health, resulting in a score of 0 for 'health_impact_core' and 'harmful_revenue_share'. Similarly, as a financial institution, its products do not have direct safety implications, pricing accessibility concerns for health products, or addiction potential, leading to a score of 0 for 'safety_record', 'price_accessibility', and 'addiction_mitigation'. The company does not conduct clinical trials, hold healthcare-related patents, or produce food products, making 'clinical_trial_ethics', 'pharma_patent_flexibility', and 'nutrition_and_food_safety' not applicable.

There is no evidence provided regarding the company's R&D or capital allocation specifically aimed at improving health outcomes, healthcare workforce support, preventative health measures, or healthcare data responsibility, resulting in a score of 0 for these KPIs. For 'health_externalities', Mizuho's Equator Principles project finance in CY2024 included 3 oil/gas projects, 24 power projects, and 25 infrastructure projects, which can have health-harming externalities. This indicates limited health-harming externalities with comprehensive remediation, aligning with a score of -60. For 'health_equity_programs', Mizuho acted as an ESG Structuring Advisor for Shinhan Bank's AUD 400 million Healthcare Social Bond, with proceeds for eligible healthcare projects in underserved areas of Korea. This is a program addressing health disparities, but no funding percentage or impact evaluation is provided, aligning with a score of -80. For 'global_health_crisis_response', Mizuho joined the Impact Investment Initiative for Global Health (Triple I for GH) in October 2023, which was launched in response to global health issues. This indicates a structured crisis response, aligning with a score of -70. For 'mental_health_initiatives', Mizuho Trust & Banking offers a Dementia Support Trust. This is a basic recognition of mental health needs but with limited practical support, aligning with a score of -80. For 'healthcare_education', Mizuho published and donated a Picture Book on financial literacy for lower-grade elementary school students. This is basic health education reaching limited audiences, aligning with a score of -80.

Fair Money & Economic Opportunity

Mizuho Bank (USA) received two "Outstanding" Community Reinvestment Act (CRA) ratings from the Federal Reserve Bank of New York (Jan 2021-June 2023) and the New York Department of Financial Services (Jan 2021-March 2023).

No evidence of discriminatory or other illegal credit practices was identified. Mizuho offers financial education programs for various age groups, including elementary school students to adults, and collaborates with universities. Mizuho Americas provided financial education training to underserved youth and adults in FY22, and Mizuho Bank (China) Ltd. works with local NPOs to educate elementary students in underprivileged areas. Mizuho has developed textbooks and video materials, with one textbook/DVD winning an award in March 2012. However, the extent of customer reach or documented outcomes for these programs is not specified. Mizuho has a regional network with offices in all prefectures across Japan and 800 offices in 36 countries globally. In Mizuho Bank (USA)'s New York City assessment area, 8.2% of businesses in 2021 and 2022 were located in low-income census tracts.

Fair Pay & Worker Respect

Mizuho Financial Group's employee engagement score was 59% in FY2023, with a target to reach 65% by FY2025.

The company's voluntary employee turnover rate was 15% in FY2023. In the past three years (FY2022-FY2024), there was one incident of misconduct by a former employee in FY2022, with zero incidents reported in FY2021, FY2023, and FY2024.

Fair Trade & Ethical Sourcing

Mizuho Financial Group detected 4 incidents related to forced labor, child labor, and human trafficking involving business partners in FY2024.

The company began stipulating compliance with its Supplier Guiding Principles in contracts with suppliers for external outsourcing transactions in July 2022 and plans to continue this action in FY2024. However, the percentage of contracts covered by these clauses is not specified.

Honest & Fair Business

Mizuho Financial Group (MFG) and its core group companies received 194 reports via their Compliance Hotline in FY2024.

Its subsidiary, Mizuho Bank Europe N.V., explicitly states having a whistleblower policy. For Mizuho Bank Europe N.V., mandatory anti-bribery/corruption (ABC) training is provided to the Board, Senior Management, and all lines of defense, and an ABC Enterprise Wide Risk Assessment was completed in the last 12 months. The Board of Directors for MFG has 57% outside directors as of June 2025. Mizuho provides third-party assurance reports for Scope 1, 2, and 3 emissions, and the social dimension. Additionally, Mizuho Bank Europe N.V.'s internal audit function or other independent third party assesses FCC (AML, CTF, ABC, Fraud and Sanctions) policies and practices on a regular basis.

Kind to Animals

Mizuho Financial Group, Inc. is a financial holding company and does not directly engage in animal-related operations, product manufacturing, or animal testing, leading to N/A scores for most KPIs. However, its financing activities are relevant. In March 2024, Mizuho revised its Environmental and Social Management Policy for Financing and Investment Activity to include policies for fisheries and aquaculture, verifying against illegal, unreported, and unregulated (IUU) fishing and destructive practices.

Despite this, an article from 2026 alleges that Mizuho, as a major investor in AEON, profits from animal cruelty in AEON's supply chain, specifically regarding hens in battery cages, and that Mizuho did not respond to information about this alleged cruelty. This indicates a lack of effective engagement in animal welfare policy improvement and a failure to address severe animal agriculture ethics issues within its investment portfolio.

No War, No Weapons

Mizuho Financial Group has a policy prohibiting financing or investment in companies that manufacture, sell, or distribute cluster munitions, anti-personnel mines, biological, chemical, and nuclear weapons.

Financing for other weapons and arms is considered only for legitimate national security or UN peacekeeping operations, based on careful consideration. The company applies the Equator Principles to large-scale projects and has an Environmental and Social Management Policy for Financing and Investment Activity, which includes a policy for human rights abuses in conflict areas. Mizuho conducts Enhanced Due Diligence (EDD) when a client is involved in a salient human rights incident, with 12 such cases in FY2023. As of July 2024, 18 countries have been identified as target conflict areas for due diligence. The Board of Directors receives reports on human rights initiatives and approves the Human Rights Policy. Mizuho aligns with the UN Guiding Principles on Business and Human Rights (UNGPs) and participates in the Financial Institutions Practitioner Circle. The company's Procurement Policy emphasizes respect for human rights and consideration for the environment in procurement operations. Mizuho enhances and expands measures for anti-money laundering and combating the financing of terrorism (AML/CFT).

Planet-Friendly Business

Mizuho Financial Group has converted 70% of its domestic electric power to renewable energy.

The company targets carbon neutrality for its own Scope 1 and 2 emissions by FY2030 and net-zero for Scope 3 emissions by 2050. Mizuho's Climate & Nature-related Report 2024 details its alignment with TCFD recommendations, outlining governance, strategy, risk management, metrics, and targets. The company benchmarks its emissions reduction targets against IEA NZE, IEA SDS, SBTi, and CRREM scenarios. Mizuho has growing disclosure of climate-related assets at risk, with a qualitative discussion of transitional risks and an outlined management approach. The company has not reported any environmental compliance violations.

Respect for Cultures & Communities

Mizuho has an Environmental and Social Management Policy for Financing and Investment Activity, which considers respect for indigenous peoples' and local communities' rights, and adheres to the Equator Principles to identify, assess, and manage environmental and social risks.

However, some projects financed by Mizuho, such as Barossa and Darwin LNG, are fiercely opposed by local communities and threaten Indigenous rights and sacred sites, indicating inconsistent implementation of its cultural impact assessment protocol. The company reports that 86% of management positions outside Japan are filled by employees hired outside Japan as of March 2025. Mizuho's ESG Data Book 2025 mentions an internal Compliance Hotline with 194 reports received in FY2024, but does not specify community-specific grievance mechanisms or their coverage across operational sites. Projects financed by Mizuho are noted to threaten Indigenous rights and sacred sites, implying a lack of effective protection measures. The opposition from local communities to certain projects also suggests a lack of social license for those operations. Mizuho's supplier diversity program promotes small businesses in local communities, but the company does not provide a specific number of indigenous or minority-owned suppliers engaged.

Zero Waste & Sustainable Products

Mizuho has implemented 6-8 waste reduction initiatives with excellent results, including expanding paperless meetings, shifting reports to electronic formats, and replacing plastic disposable coffee cups with paper cups.

These efforts have led to a reduction in annual paper usage equivalent to about one million A4-sized sheets by not issuing passbooks. The company manages and disposes of waste according to an industrial waste manifest in line with the Wastes Disposal and Public Cleansing Act. Mizuho has set company-wide waste reduction targets, including a targeted reduction of 1% in paper usage for six group companies in Japan compared to the previous fiscal year, and a targeted green purchasing ratio for paper of 85% or more at core group companies. Mizuho provides clear disposal information on all products and packaging, such as the Mizuho IC Cash Card being made from environmentally friendly PET-G.