Formulation of Purpose of the Bank
We take a medium- to long-term perspective in redefining our vision of the Norinchukin Bank, the value we provide, and the role we serve in the world. We defined the value that the Bank will provide to society in the year 2050 as our Purpose, recognizing the importance of setting and executing specific goals to achieve these aspirations.
In formulating our Purpose, we held monthly workshops throughout 2020, attended by the CEO, Directors and Executive Officers.
After putting together forecasts for the global environment and societal changes for 2050 (megatrends), we used the concept of backcasting, carrying out discussions under the following approach.
Details of discussions were shared with the Supervisory Committee members and the Bank employees, and we formulated the plan after receiving opinions and responses to questionnaires.
Discussion Process
- Share futuristic scenarios for 2050 in consideration of medium/long-term changes in the environment and society (megatrends).
- Forecast the impact that these futuristic scenarios could have on the Bank’s foundation and businesses (the Agriculture, Fishery, and Forester ("AFF") industries; investment and financing).
- For (2), above, discuss the value that the Bank can provide to society and the role that we are expected to play (our Purpose).
- Discuss the goals to be achieved by 2030 based on our Purpose.
- Reflect these details in our management plan and realign the Norinchukin Bank Vision.
Milestones of Sustainable Management
The Norinchukin Bank began sustainable management in fiscal 2019 and has been developing our sustainable management framework and joining various initiatives since. We are committed to continue working together with our stakeholders going forward.
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Our Purpose
- Sustainability
- Sustainability Management
- Highlights of Initiatives
- Formulation of Purpose of the Bank and Milestones of Sustainable Management
- Philosophies and Policies
- Sustainability Promotion Structure
- Sustainability Advisory Board
- Important Issues to Achieve Our Purpose
- Stakeholder Engagement
- Participation in Initiatives
- Sustainable Finance
- Initiatives for Creating and Visualizing Impact
- Initiatives to Manage Environmental and Social Risks
- Agriculture, Fishery, Forestry Industries, and Regions
- Environment
- Social
- Governance
- Report/Index