Tokyo-based banking and financial services company Mizuho Financial Group and global wealth and asset manager Lombard Odier announced the launch of a new “sustainability alliance,” including agreements to partner on sustainable investment products and solutions for Japan-based clients.

The new collaboration follows the launch last year by Mizuho and Lombard Odier of a private banking-focused Strategic Alliance Agreement, and, according to the companies, comes as Japanese clients have taken an increased interest in sustainability issues.

Vincent Magnenat, Limited Partner, Asia Regional Head and Global Head of Strategic Alliances at Lombard Odier, said:

“We are excited to strengthen our relationship with Mizuho Financial Group and further advance sustainability in the Japanese market. Our role as a wealth and asset manager is to assist clients in navigating the risks associated with the transition to sustainability as the economy transforms from one that is Wasteful, Idle, Lopsided and Dirty to an economy that is Circular, Lean, Inclusive and Clean. By fostering knowledge sharing, we aim to empower Mizuho Financial Group to lead the way in sustainable finance practices in Japan.”

Under the new alliance, the companies will expand their areas of cooperation in sustainability, with Lombard Odier providing sustainability expertise as a strategic advisor and consulting partner to Mizuho, with the aim of establishing systems in sustainability, and enhancing sustainability solutions for high-net-worth clients in Japan, and Mizuho providing its network and knowledge to enable Lombard Odier to gather insights on sustainability within the Japanese market, jointly develop sustainability-related investment strategies, and expand its presence in the market. Mizuho will also gain access to Lombard Odier’s range of sustainability strategies with tailored solutions for clients.

Jean-Pascal Porcherot, Managing Partner at Lombard Odier, said :

“At Lombard Odier, we believe that system changes resulting from the transition to a more sustainable economy will result in profound changes in business models, value chains and profit pools. As a high-end investment firm, we have strong sustainability research and investment expertise to help identify the opportunities and risks that are emerging from this transition. We are delighted to partner with Mizuho Financial Group to support clients in Japan who are seeking sustainable long-term value.”

According to Mizuho, the new alliance forms part of the company’s efforts to strengthen its initiatives in the sustainability space, following the launch last year of its medium-term business plan, centered on personal well-being and the achievement of a sustainable society and economy. In a statement announcing the alliance, Mizuho added that the collaboration will help the company to refine its “sustainable investment offerings in alignment with international standards, and to position Mizuho as a forerunner in sustainable finance practices.”

Atsuhiro Morishima, Deputy Head of Retail & Business Banking Company at Mizuho Financial Group said:

“We are delighted to partner with Lombard Odier to advance sustainability initiatives in Japan’s financial sector. By leveraging Lombard Odier’s extensive capabilities and expertise in sustainability research, we are confident in our ability to deliver innovative solutions that meet the evolving needs of our clients, underscoring our commitment to driving positive environmental impact through sustainable financial practices.”