[Joint Statement] Japanese Insurer MS&AD Completely Stops Underwriting Coal Power ~Tokio Marine and SOMPO’s responses are called into question~
On June 25, MS&AD, one of Japan’s major non-life insurance companies, announced a policy to completely stop underwriting new coal-fired power projects. MS&AD is the first Japanese major non-life insurance company to announce a complete end to coal underwriting and we welcome its pioneering work. At the same time, we call on Tokio Marine Holdings and SOMPO Holdings, which are also major Japanese non-life insurance companies, to at the least, establish similar policies immediately.
[Press Release] Bondholders challenged JICA to Stop Supporting Coal Projects in Bangladesh and Indonesia
In March, 29 organizations from 12 countries submitted a letter to JICA bond underwriters and bondholders, requesting them to urge JICA to rule out support for the coal plants in Bangladesh and Indonesia. 14 bondholders responded to the letter and some bondholders contacted JICA on the topic of financing coal projects regarding this letter. JICA’s continued support for these 2 coal projects is inconsistent with the G7 leaders’ agreement and net-zero goal for 2050.
【Joint Press Release】Ahead of Shareholder Vote, Activists stage global actions urging Japanese megabank MUFG to end climate-destructive financing
From June 17-22, activists staged a global action targeting Asia’s worst banker of climate chaos, Mitsubishi UFJ Financial Group (MUFG), demanding the Japanese megabank to stop funding fossil fuels, deforestation, and human rights abuses.
[Joint Statement] 143 Organizations from more than 30 countries call on the 3 Japanese megabanks to end fossil fuel finance
143 organizations from more than 30 countries and regions have submitted a petition calling on the three Japanese megabanks to phase out financing and investments for the fossil fuel sector and the forestry sector, for the role they play in accelerating the climate crisis. The petition was delivered before the banks’ Annual Shareholders Meetings on 23 June.
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, […]