On 15 March 2023, a four-person delegation from Sumitomo Mitsui Banking Corporation (China) Limited, including Mr. Fujiki, Senior Vice President of the Corporate Business Promotion Department, and Ms. He Jingyuan, Assistant Vice President of the Innovative Enterprise Business Promotion Office, visited WeCarbon for cooperation talks. WeCarbon's founding team and other team members attended the meeting.
The WeCarbon team welcomed the SMBC delegation and presented the company's business direction, core strengths and technology products.
(Image: SMBC website)
The two sides held in-depth discussions on business development, the Chinese and Japanese carbon markets, carbon management, carbon disclosure and ESG, and explored clients' practical needs and the prospects for future cooperation with SMBC in the Chinese and Japanese markets.
At the meeting, WeCarbon's founding team noted that the underlying logic of carbon markets, carbon trading and green finance is broadly consistent between China and Japan, and that WeCarbon's advanced technology capabilities and practical experience in China's sustainability field can help industry in both countries with disclosure compliance and value creation in carbon emissions and ESG. In disclosure compliance, unlike the labour-intensive industry model of rough calculations based on emission factor libraries backed up by manual inventories, WeCarbon has developed low-code, modular, fully online calculation for carbon emission verification across all CCER/CDM/VCS methodologies, supported by an automated carbon data collection pipeline, replacing a large amount of manual offline carbon inventory and emission reduction verification work. In value creation, WeCarbon uses advanced technology to unlock the value of data, shortening the time needed for carbon verification and investment due diligence, enabling more accurate risk pricing, and speeding up carbon asset transactions and green financing.
The SMBC delegation said that more and more companies in China and Japan recognise the importance of reducing carbon emissions, and that financial institutions and the companies they finance need to build a bridge through data to advance green finance.
About Sumitomo Mitsui Banking Corporation (SMBC)
(Image: SMBC website)
Sumitomo Mitsui Banking Corporation (SMBC), headquartered in Tokyo, was established on 1 April 2001 through the merger of Sumitomo Bank, the core bank of the Sumitomo Group, and Sakura Bank of the Mitsui Group. It is one of Japan's three major commercial banks and one of the ten major commercial banks worldwide. SMBC has committed to net-zero greenhouse gas emissions from its own operations ("carbon neutrality") by 2030 and to carbon neutrality across its entire investment and loan portfolio by 2050. SMBC Group is also a member of the Net-Zero Banking Alliance (NZBA) and the Net Zero Asset Managers initiative (NZAM). SMBC Group is committed to accelerating its net-zero goals by supporting the carbon neutrality transition, and to contributing to the transition towards, and the eventual achievement of, a zero-carbon society.