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Mizuho plans $390m investment blitz in net-zero transition tech

CEO Kihara outlines push to improve response after recurring system glitches

A pilot plant for CO2 capture at Amager Bakke in Copenhagen. Competition is heating up to invest in technologies that help the world's transition away from fossil fuels.    © Reuters

TOKYO -- Mizuho Financial Group will allocate 50 billion yen ($389 million) to invest in decarbonization technologies over the next five years, the Japanese banking giant's new president and CEO told Nikkei in a recent interview.

Decarbonization funding figures prominently in the bank's five-year business plan launched in fiscal 2019, which tackles structural reforms to build up its capital and promotes "next-generation financial services."

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