Right now, there are several Japanese-financed coal-fired power stations in the pipeline in Vietnam and across Asia — Van Phong 1 is a prime example of how dirty and polluting these projects can get. What does this highly-polluting technology mean for locals living in areas around the plant? The Greenpeace … Read More
Media release: Japan’s MUFG commits to end financing for new coal projects, NGOs call for further steps
16 May 2019 | Joint release: No Coal Japan Japanese and international environmental NGOs welcomed Mitsubishi UFJ Financial Group (MUFG)’s release of its revised environmental and social policy framework, which now excludes finance to new coal power projects. Coming only days after Singapore’s three major banks also ended coal finance, … Read More
Japanese megabanks faced with international ad in the Financial Times
NGOs from Vietnam, Indonesia, Japan and around the world have placed a full-page advertisement in the Financial Times today calling for Japanese megabanks – Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Banking Corporation (SMBC), and Mizuho Financial Group (Mizuho) – to stop funding coal power. MUFG, SMBC, and Mizuho, along … Read More
Media release: JBIC and commercial banks shamelessly agree to finance Van Phong 1, despite multiple unresolved issues
19 April 2019 The decision by the Japan Bank for International Cooperation (JBIC) and a consortium of commercial banks to finance the proposed Van Phong 1 coal-fired power station in Vietnam has been branded as shameless and cowardly by clean energy advocates. JBIC announced on its website that financing had … Read More
WIN! Standard Chartered rules out new coal…. everywhere!
25 September 2018 Standard Chartered bank today updated its policy on lending to power generation, ruling out new coal power plants anywhere in the world. It confirmed the bank would no longer directly finance “any new coal-fired power plant projects, including expansions, in any location”. This marks a massive shift … Read More
Media release: New Japanese bank policies rule out a third of overseas coal plant finance
28 August 2018: New coal policies should rule out providing financial support to close to a third of the coal-fired power stations (by capacity) currently under consideration by Japan’s three major commercial banks, according to a new analysis released today by environmental finance group Market Forces. In implementing their new … Read More
Media release: Japanese Banks under international fire over Vietnamese coal finance
Tuesday 13 March 2018 An international coalition of civil society organisations has written to SMBC, Mizuho and MUFG, warning of the risks associated with financing the 1,200MW Nghi Son 2 coal-fired power plant in Thanh Hoa province, Vietnam. The project is sponsored by Marubeni and the Korea Electric Power Corporation (KEPCO). SMBC, … Read More
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