SINAI Technologies recently announced that Japan’s largest bank MUFG (Mitsubishi UFJ Financial Group, Inc.), has selected its decarbonization platform to help with efforts to reduce its carbon emissions and reach net zero.
SINAI’s platform will allow MUFG to both automate Scope 1 and 2 emissions, improve workflows for gathering and verifying the data and also provide options for reducing them.
“We are delighted to be supporting MUFG in reaching its net zero goals,” said Maria Fujihara, Founder and CEO of SINAI Technologies. “At SINAI, we believe that industry leaders with more reliable data and better collaboration have higher chances of reaching net zero and prosper in a low-carbon economy by doing so.”
MUFG had previously attempted to perform these operations in-house but found the scale of the task to be time and resource-intensive. This led to the bank involving KPMG Japan in the process. The accounting firm had already established a relationship with SINAI and utilizing its decarbonization intelligence platform for clients who want to reach net zero.
With it MUFG will now be able to automate the two main aspects of reducing its emissions – calculating its global greenhouse gas emissions across all of its operations and identifying a pathway towards reducing them.
SINAI’s platform comes well prepared for this, as its already available in English and Japanese and will do the heavy lifting when it comes to standardizing and simplifying emissions monitoring and standardization from the Japanese giant’s 2,400 locations in over 50 countries.
The partnership with MUFG is another milestone for SINAI, with the company recently announcing its Series A round, which attracted $22 million with participation from two Japanese investment companies – Presidio Ventures and NEC Translink Capital.
SINAI’s scale is also increasing and in 2022 its platform managed to track over 17 billion kg of Scope 1 CO2e (carbon dioxide equivalent) and 143 million kg of Scope 2 CO2e. By mapping and connecting these inventories, the platform assisted clients in modeling over 750 mitigation options.