NGOs call on MUFG, SMBC and Mizuho to align with Paris Agreement
Close to 50 NGOs called on MUFG and the other Japanese megabanks to urgently align their financing with the Paris Climate Agreement. The letters were sent to the CEOs and Board members of MUFG, SMBC and Mizuho.
[Press Release] 128 organizations from 39 countries demand the Japanese government and companies to withdraw from Vung Ang 2 coal power plant project in Vietnam
128 organizations from more than 39 countries submitted a petition to call upon the Japan Bank for International Cooperation (JBIC) to reverse its decision to provide financing for the Vung Ang 2 coal-fired power plant project in Vietnam. The petition also calls upon all companies involved to withdraw from the project.
The 2020 Scorecard on Insurance, Fossil Fuels and Climate Change: Tokio Marine, MS&AD and SOMPO ranks 18th out of 30 due to large exceptions in their policies
An international network of environment NGOs “Insure Our Future” published the rankings of 30 leading insurers worldwide for their policies on insuring and investing in coal, oil and gas as well as their efforts to address climate change. Japan’s major non-life insurance companies Tokio Marine, MS&AD and SOMPO announced a policy on underwriting coal-fired power projects in September 2020, but they ranked 18th due to large exceptions in the policy.
No Coal Go Green! Project Video “Tell Japan to Stop Financing Overseas Coal Power!”
Japan has set a target to reach net-zero greenhouse gas emissions by 2050 and it is expected that efforts to reduce domestic CO2 emissions will be strengthened. However, coal-fired power projects that are being planned overseas have been left out. Environmental NGOs created a video to let domestic and foreign institutional investors and government officials know about 3 overseas coal-fired power projects that involve the Japanese public and private sectors.
[Joint Statement] Japanese NGOs praise collective engagement by institutional investors calling for investees to withdraw from Vung Ang 2 coal-fired power plant in Vietnam
Several major institutional investors — including Nordea, Amundi, AP7, Allianz, and more — are urging Japanese and Korean public financial institutions and major companies associated with or involved in the Vung Ang 2 coal-fired power plant project in central Vietnam to withdraw from the project. Environmental NGOs praise these collective engagement efforts by institutional investors.