Asian insurers need to embrace the low-carbon transition
Insurance companies are particularly exposed to the risks of climate change.
Sumitomo-sponsored coal plant in Vietnam would cause 1,900 premature deaths
This Sumitomo-sponsored plant uses outdated, highly polluting technology, producing up to nine times more pollutants than the average new coal power plant in Japan, Korea or China.
Growing legal risk over coal-fired power generation plan in Japan
On May 27, 2019, 45 people including the local population in Yokosuka filed a lawsuit against the Government of Japan, calling for cancellation of the confirmation on the environmental impact assessment for Yokosuka coal-fired power generation plan.
A fatal error in JBIC’s procedure on the Van Phong1 Coal-Fired Power Generation Project
The Japanese environmental NGOs submitted a letter to the Japan Bank for International Cooperation (JBIC), a Japanese export credit agency to point out a clear and critical violation of the JBIC Guidelines for Confirmation of Environment and Social Considerations.
JBIC and NEXI stopped considering to support the Morupule B project in Botswana
The Japan Bank for International Cooperation and Nippon Export and Investment Insurance announced that they stopped their official consideration to finance and insure the Morupule B coal-fired power plant project in Botswana.