Japan under pressure at G7 over coal addiction
Japan’s continued backing of coal power has left it isolated at this week’s G7 and facing a barrage of pressure from environmental groups. The No Coal Japan coalition – an alliance of over 35 environmental groups – and Beyond Coal campaign which aims for a 2030 coal phase out in Japan, Australia, Europe, South Korea, […]
[Joint Statement] NGOs call on Japan to end overseas public finance for fossil fuels including Indramayu and Matarbari 2 coal plants, at G7 Summit
Ahead of the G7 Summit on June 11-13, 39 organizations from 14 countries released a joint statement calling on the Japanese government to end public finance for fossil fuel projects, including coal projects in Bangladesh and Indonesia which Japan is considering supporting. Japan is the only country in the G7 to oppose an end to coal finance and they are holding back other countries! Japan should immediately phase out coal.
MUFG Climate Resolution Still Necessary – Co-Filers Issue 2nd Investor Briefing on Why the Resolution Must Pass
Kiko Network and three individuals with RAN, Market Forces, and 350.org Japan have issued a second briefing for investors to explain why investors should still support this resolution in light of the recent policy reforms and net zero announcement by MUFG.
MUFG Commits to Carbon Neutrality by 2050 but Punts Detailed Plan on Paris Alignment – Shareholders Will Not Withdraw Climate Resolution
On May 17, Mitsubishi UFJ Financial Group published the “MUFG Carbon Neutrality Declaration,” and announced its plan to achieve net zero financed emissions by 2050. However, Punts Detailed Plan on Paris Alignment Shareholders Will Not Withdraw Climate Resolution
Mizuho’s Revised Policy Tightens Approach to Climate Risk But Still Far from Meeting Paris Agreement Goals
On May 13th, Japanese megabank Mizuho Financial Group announced revisions to its lending and investment policies, and we welcome the strengthening of its policy toward decarbonization. However, the policy falls short of their domestic rivals in other ways. Even with this revision, there is no assurance that Mizuho’s policy is consistent with the Paris Agreement. In light of the urgency of the climate crisis, Mizuho must urgently formulate more specific goals, metrics, and roadmaps to align with the Paris Agreement goals.