, Japan
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Mizuho partners with KOKO Networks to offer carbon credits to clients

Proceeds from the sale of premium carbon credits are distributed as substantial discounts on KOKO Fuel.

Mizuho Bank has entered a memorandum of understanding (MOU) to form a strategic partnership with KOKO Networks, a Kenyan climate-tech company to focus on carbon credits.

Through this MOU, Mizuho aims to offer its clients opportunities to obtain carbon credits in cooperation with KOKO, fostering environmental contributions and new business prospects. 

ITOCHU Corporation has also engaged in a long-term off-take agreement for carbon credits with KOKO, aiming to bolster KOKO’s decarbonisation initiatives and support customer decarbonisation through acquired carbon credits. 

The three entities - KOKO, Mizuho, and ITOCHU - intend to explore potential collaborations to develop the carbon credit market further.

Regarding carbon credits, Mizuho previously partnered with the International Finance Corporation (IFC), a World Bank Group member, to establish a facility for voluntary carbon credits for Japanese firms. 

Through this alliance, Mizuho and IFC offer high-quality voluntary carbon credits sourced from IFC-reviewed forest conservation and other projects to Japanese companies.

ALSO READ: Mizuho Financial Group reports $1.71b in profits for Q1 FY2023

These collaborations with KOKO and IFC place Mizuho at the forefront of the emerging carbon credit market, contributing to clients and society's net-zero strategies.

KOKO undergoes audits to ensure its reduced carbon emissions adhere to global compliance and voluntary carbon market standards. 

The proceeds from the sale of premium carbon credits are distributed as substantial discounts on KOKO Fuel to Kenyan households, making this solution economically feasible for low-income families.

Businesses aiming to preserve forests and biodiversity in line with their Net Zero commitments can acquire carbon credits from KOKO. 

These credits enable companies in advanced economies to take prompt climate action while progressively decarbonising their value chains. By directly investing in emissions-reducing projects in developing markets, funds are directed towards immediate climate impact.

 

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