Sony Bank Becomes Japan's First Carbon Offset Bank

Sony Bank Inc. announced on April 1, 2008, that it is introducing Japan's Green Power Certificate System as part of its environmental conservation activities. It will receive a Certificate equal to 1.1 million kilowatt hours to cover the entire annual electricity consumption at the bank (excluding subcontracted business) starting with April 2008.

The Japan Natural Energy Company will issue the Green Power Certificate to Sony Bank, making it the first complete carbon neutral bank in Japan. According to research by the bank, all electricity consumed by the bank will henceforth be considered electricity generated by a renewable energy source. The bank expects to offset about 400 tons of greenhouse gas (GHG) emissions annually through this certification program.

Another new program for contributing to GHG reduction by the bank will involve investment of trust funds specified by the bank from April 21, 2008. The bank will purchase emission credits using a part of sales or trust charges and donate the credits to the Japanese government for clients who own funds in amounts over a specified volume.



Posted: 2008/08/21 10:05:16 AM