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NEW YORK, NY, (February 22, 2021) – MUFG Union Bank, N.A., today announced that it has launched Green Deposits for commercial and corporate clients to support sustainable projects that benefit the environment.

Available in the United States, Green Deposits give clients the opportunity to invest their deposits in Environmental, Social and Governance (ESG) projects. MUFG will use the deposited funds to finance ESG projects such as energy efficiency; renewable energy; green transport; sustainable food, agriculture, and forestry; waste management; and greenhouse gas reduction, among others.

“Our new Green Deposits offering aligns with our clients’ commitment to the environment by embracing social responsibility and sustainable investing,” said Ranjana Clark, Head of Global & Americas Transaction Banking and Bay Area President. “MUFG is focused on developing innovative products and services that support our clients’ objectives and that leverage our business strengths, such as Project Finance and Liquidity Management.”

MUFG partnered with Sustainalytics, a leading ESG research, ratings and data firm, to develop the bank’s Green Deposit Framework to capture and account for qualifying green activities within the MUFG portfolio, and ensure alignment with industry best practices and standards.

“Liquidity vehicles such as this Green Deposit product meet many clients’ needs who want to ensure their surplus cash deposits are being used for the greater good,” said Managing Director Olu Adebiyi, Liquidity Product Head, Transaction Banking Americas. “We are proud to be at the forefront of our clients’ focus on environmentally beneficial initiatives by adding a bank deposit option to accompany the growing number of non-bank ESG investment vehicles in the market.”

MUFG’s Environmental Commitment

MUFG has committed to participating in CDP (formerly the Carbon Disclosure Project). CDP is a project through which institutional investors from around the world work together and urge corporations to disclose their strategies on climate change as well as detailed data on their greenhouse gas emissions. MUFG has participated in the project since 2004.

On July 1, 2020, MUFG began applying the Equator Principles 4, which includes due diligence on the impact of physical and transition risks posed by climate change on projects and enhanced engagement with indigenous peoples. MUFG has also committed to gradually decreasing the balance of MUFG’s exposure to coal-fired power generation projects with a target reduction of 50 percent from FY2019 to FY2030 and down to zero by FY2040.

In the Americas, MUFG is on track to exceed its five-year, $41 billion Community Service Action Plan sustainable finance goals announced in 2016, surpassing a cumulative $50 billion during 2020, including more than $40 billion for environmental finance, for projects including green affordable housing, solar and wind energy, agricultural operations that conserve natural resources, green and social bonds and sustainability linked bonds and loans, mass-transit systems, and public water infrastructure.

MUFG intends to commit ¥8 trillion (approximately $72 billion) of finance in the environmental field, including initiatives to counter climate change. We promote renewable energy through project finance, issue MUFG Green Bonds (which ensure that the net proceeds are allocated to eligible Green Projects), provide commodities and services aimed at mitigating environmental loads, and encourage the climate change countermeasure consulting business.

“As an organization, MUFG is focused on what we can do to drive the transition toward a more sustainable environment in the communities we serve,” said Dr. Tobi Petrocelli, Director Environmental and Sustainability Management, Corporate Social Responsibility for the Americas. “Environmental Stewardship is one of our core values, and it is important that we pursue ways to reduce our collective environmental footprint.”

To learn more about the bank’s Green Deposits offering, visit

About MUFG Union Bank, N.A.

As of September 30, 2020, MUFG Union Bank, N.A. operated 348 branches, consisting primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York, and Georgia. We provide a wide spectrum of corporate, commercial, and retail banking and wealth management solutions to meet the needs of our clients. We also offer an extensive portfolio of value-added solutions for clients, including investment banking, personal and corporate trust, global custody, transaction banking, capital markets, and other services. With assets of $132.5 billion, as of September 30, 2020, MUFG Union Bank has strong capital reserves, credit ratings, and capital ratios relative to peer banks. MUFG Union Bank is a proud member of the Mitsubishi UFJ Financial Group (NYSE: MUFG), one of the world’s largest financial institutions with total assets of approximately ¥348.4 trillion (JPY) or $3.3 trillion (USD)¹, as of September 30, 2020. The corporate headquarters (principal executive office) for MUFG Americas Holdings Corporation, which is the financial holding company, and MUFG Union Bank, is in New York City. The main banking office of MUFG Union Bank is in San Francisco, California.

1 Exchange rate of 1 USD=¥105.8 (JPY) as of September 30, 2020

Press Contacts

United States

Daniel Weidman

Oksana Poltavets