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About Sumitomo Mitsui Trust Holdings
Sumitomo Mitsui Trust Holdings is a Japanese financial holding company headquartered in Chiyoda, Tokyo. It provides financial services to retail and wholesale customers, with a focus on asset management, financial brokerage and real estate. Its main operating company is the Sumitomo Mitsui Trust Bank which is the largest trust company and the fifth-largest bank in Japan measured by assets. The company has no capital relationship with the Sumitomo Mitsui Financial Group. The two banking groups are similarly named because both are descended from the historical Sumitomo and Mitsui conglomerates. Sumitomo Mitsui Trust Bank adopted the Equator Principles in 2016.
1-4-1 Marunouchi, Chiyoda-ku
Toru Takakura |
President Executive Officer
CSR Report 2020-2021|
Annual report 2021
listed on Tokyo Stock Exchange
Sumitomo Mitsui Trust Holdings' shareholder structure can be accessed here.
|Complaints and grievances||
Sumitomo Mitsui Trust Holdings does not operate a complaints channel for individuals and communities that may be adversely affected by its finance.
Stakeholders may raise complaints via the OECD National Contact Points (see OECD Watch guidance).
Related Dodgy Deals
Dodgy Deals map
Tracking the Equator Principles
EPFIs reporting status
Project name reporting status of Equator Principles signatories for each financial institutions' most recent reporting period. Where there is no percentage presented the EPFI has not reported having financed any project transactions in that reporting period.
Banks and Climate
Bank net zero commitments
This table tracks the net zero pledges and commitments of banks. It shows whether banks have committed to net zero by 2050 and have set an interim emissions reduction goal for 2025 and/or 2030. It also notes banks that have not yet set targets but have pledged to do so in the future, including by joining the Collective Commitment to Climate Action or Net Zero Banking Alliance. Finally, it notes whether banks have (pledged to) set Science-Based Targets. More information and references can be found by expanding the 'details' section of each bank.
- A blue check mark means the bank has set a target or joined the alliance. A check mark does not mean that the target set by the bank meets any particular standard, just that is has set a target. In case we have identified short comings in the target, for example when it only applies to lending and not underwriting), this is noted in the 'details' section.
- An orange dash means a bank has pledged to set a target (for example, banks commit to set 2030 and 2050 targets when they join the NZBA), but have not yet actually done so.
CCCA = Collective Commitment to Climate Action
NZBA = Net Zero Banking Alliance
SBT = Science-Based Targets
Banks and Human Rights
Human Rights Benchmark November 2019
Sumitomo Mitsui Trust Holdings's human rights policies, processes and reporting were assessed as part of the BankTrack Human Rights Benchmark in November 2019. The bank is assessed as a Follower, with a total score of 4 out of 14.
Due dilligence: 1.5/5
This page evaluates Sumitomo Mitsui Trust Holdings's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".
New report: Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021
Equator Banks involved in financing at least 200 fossil fuel projects since Paris
Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit
Forests & Finance Coalition warns foreign investors about the risk of the anti-environment agenda in the Brazilian Congress
New bank links to Myanmar junta and atrocities found
World’s 50 largest banks and investors driving deforestation through weak policies and major investments, new study finds
Banks called upon to take action to protect biodiversity ahead of UN Biodiversity Conference in Kunming
Revealed: Businesses and banks behind global plastic waste crisis
Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement
A call to action on the Principles for Responsible Banking: End climate-destructive financing now
Principles for Responsible Banking no obstacle to finance climate destruction
Global finance sector failing to apply conservation criteria to pulp and paper funding
4 out of 5 banks failing on human rights, new BankTrack Human Rights Benchmark shows
Sumitomo Mitsui Trust Bank announces end of new coal power project financing
Japanese Banks ill-Equipped to Reform Banking Practices in Line with the Paris Agreement
Japanese and Singaporean banks step in to finance Indonesian coal plant in face of opposition from communities and environmentalists
Japanese Bank Financing of the East African Crude Oil Pipeline (EACOP)
Banking on Climate Chaos 2022
Recipients of the letter about the risk of the anti-environment agenda in the Brazilian Congress
Forests & Finance 2021 Briefing - Is Your Money Destroying Rainforests or Violating Rights?
A Call to Action on the Principles for Responsible Banking: End Climate-Destructive Financing Now
Notice regarding review of policies and views on environmental/social considerations for loans
Major international banks continue to finance palm oil company Indofood despite evidence of systemic labor abuses
The human cost of conflict palm oil - revisited
Japanese and Malaysian banks and investors continue to pump billions of dollars into forest-risk companies, without adequate environmental and social safeguards
FairFinanceGuide case study
Voluntary standardsSumitomo Mitsui Trust Holdings has committed itself to the following voluntary standards:
- Business for Social Responsibility
- Carbon Disclosure Project
- Equator Principles
- Natural Capital Declaration
- Net-Zero Banking Alliance (NZBA)
- Poseidon Principles
- Principles for Financial Action towards a Sustainable Society
- Principles for Responsible Banking (PRB)
- Principles for Responsible Investment (PRI)
- Task Force on Climate-related Financial Disclosures
- UNEP Finance Initiative
- United Nations Global Compact
Sumitomo Mitsui Trust Holdings' policies can be found on its corporate social responsibility webpage.