Campaigns
Asia campaigns
Making Asia fossil-free
Market Forces works with community groups and environmental defenders across Asia who are fighting to ensure their countries get the access to the clean, renewable energy they deserve.
Market Forces also empowers shareholders to take action on climate change through engagement with company management, the exercise of shareholder rights and responsibility as stewards of the companies. We aim to enhance long-term, sustainable corporate and shareholder value by bringing the voice of the community and the facts about climate financial risk to corporations. We also urge companies to deliver real, credible solutions to climate change.
Starting in Australia, we are expanding this initiative to Asia Pacific and beyond.
Learn more about our campaigns and send emails to polluting companies and the banks and investors that support them!
Companies driving climate change in Asia
Adaro
Massive Indonesian coal miner with a business plan to expand the coal industry, betting on catastrophic climate change.
Indonesia
General Electric
Responsible for producing a third of the world’s energy, still doubling down on fossil gas power in Asia and around the world.
USA
A joint venture of two Japanese utilities, TEPCO and Chubu, JERA is the largest power generation and LNG trading company in Japan and expanding fossil gas and ammonia across Asia.
Japan
Mitsubishi
A diversified company with significant scope 3 emissions, at 381 million tons, greater than either the UK or France’s annual fossil emissions.
Japan
Japanese megabanks
Japanese megabanks (Mizuho, MUFG, SMBC Group) risk failing their 2050 net-zero commitment with massive funding for the fossil fuel industry.
Japan
Harita Group
Harita Group is Indonesia’s nickel company with captive coal-fired power plants to power its smelters.
Indonesia
Asia
Shareholder
Action
We seek to empower shareholders to take action on climate change. Asia Shareholder Action is an Asia-Pacific-based initiative that Market Forces is part of.
Fossil Free
Chattogram
Let’s keep fossil fuels out of Bangladesh for the health and wellbeing of the local communities, the beautiful regional beaches and forests, the Bangladeshi economy, and our shared climate.
Resources
Report
Jan 2025
Japan’s Trading Houses: Losing the Renewable Energy Race
Trading houses, known as “sogo shosha” in Japanese, are large, diversified trading companies that play a crucial role in Japan’s economy. These companies play a major role in expanding gas infrastructure, including liquified natural gas (LNG) terminals and gas power plants, around the world, exacerbating energy insecurity particularly in Asia by increasing the region’s dependence on gas.
Japan
Report
Dec 2022
LNG expansion is a burden on Japan’s future
The fossil gas (LNG) business being promoted by Japanese companies carries serious financial and climate risk for Japan and emerging Asian markets. It holds back Japan and other countries from shifting to renewable energy in order to increase energy self-sufficiency.
Japan
Report
Oct 2022
Japan’s fossil gas expansion
The Japan-backed liquefied natural gas (LNG) buildout in Asia threatens to derail the global goals of the Paris Agreement.
Japan
Report
August 2022
Investors left blue by fossil fuel hydrogen and ammonia
Investors in companies including Mitsubishi Corporation, JERA, Mitsubishi Heavy Industries, Sumitomo Corporation and Mitsui & Co must question the cost-effectiveness and climate credibility of “blue” hydrogen technologies proposed to meet net-zero commitments.
Report
October 2023
Vietnam proposed LNG projects
Market Forces examined the proposed LNG projects that have not reached financial close or have material prospects of being commissioned in Vietnam as of July 2023.
Vietnam
Report
October 2023
Thailand proposed LNG projects
Market Forces examined the proposed LNG projects that have not reached financial close or that have material prospects of being commissioned in Thailand as of July 2023.
Thailand
Investor briefings
| Company | Briefing | Date |
|---|---|---|
| Mizuho, MUFG, and SMBC | Disclosure to manage Megabanks’ financial and climate risks English | Japanese | April 2025 |
| Chubu Electric Power Co., Mitsubishi Corporation, Mitsui & Co., Sumitomo Corporation | Inadequate disclosures - Climate-related financial risks - Audit and Supervisory committee responsibilities English | Japanese | April 2025 |
| Mizuho, MUFG, and SMBC | Japanese megabanks' flawed policies and targets undermine climate commitments | November 2024 |
| Mitsubishi Corporation | Mitsubishi Corporation's Projects Spark Doubts about Risk Management | August 2024 |
| Adaro | Adaro's metallurgical coal mining expansion increases risk to investors | June 2024 |
| Adaro | Adaro's weak diversification plan increases risks to shareholders | May 2024 |
| Mitsui & Co., Mitsubishi Corporation, JERA, Sumitomo Corporation and Chugoku Electric Power | Japanese corporations and investors face risk by investing in new liquefied natural gas (LNG) terminal in Bangladesh | February 2024 |
| Adaro | Adaro's latest transition pathway inconsistent with global climate goals | January 2024 |
Did you know?
94%
of proposed new coal and 63% proposed new gas power globally is in Asia
Source: Global Energy Monitor 2023
Campaign news
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