Mizuho and Lombard Odier ink sustainability alliance agreement

Lombard Odier will act as a strategic advisor and consulting partner to Mizuho.

Mizuho Financial Group and the Japanese entity of Swiss-based wealth and asset manager Lombard Odier have inked a memorandum of understanding (MOU) covering sustainability.

The MOU expands its areas of cooperation beyond the two companies’ existing strategic alliance agreement for private banking inked in 2023.

Mizuho and Lombard Odier will expand their areas of cooperation in sustainability. Mizuho will gain access to Lombard Odier's comprehensive range of sustainability strategies with tailored solutions for clients.

The sustainability alliance is also expected to help refine Mizuho's sustainable investment offerings in alignment with international standards, and to position Mizuho as a forerunner in sustainable finance practices, the bank said in a press release posted on its website.

Lombard Odier, which has a strong focus on sustainability investing, will act as strategic advisor and consulting partner to Mizuho. The group is expected to help enhance sustainability solutions for Mizuho’s high net worth clients in Japan.

In return, Lombard Odier will work with Mizuho’s strong network and knowledge to gather insights on sustainability within the Japanese market, jointly develop sustainability-related investment strategies, and expand its presence in the market, the press release said.

Separately, Mizuho Bank had allotted $12.5b to finance hydrogen production.