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ORGANIZATION PETITION

Help us send a message to the 3 megabanks’ shareholder meetings

“No More Export of Coal-Fired Power”

Various measures have been taken in response to the Corona Crisis that the world is now facing. At the same time, however, the climate crisis, humankind’s greatest crisis, cannot be forgotten and ignored. The threat of the climate crisis is already a reality, as powerful typhoons, hurricanes, and floods increase year on year, along with record-breaking forest fires and droughts, the acidification of the oceans and, due to these, reduced yields in agriculture and fisheries and the emergence of climate refugees.

Although experts warned of the risk of a pandemic, their voices were ignored. This failure must not be repeated. Scientists have warned us for decades that if we continue on our present path, we risk starting a vicious spiral that we will be unable to reverse as global warming itself becomes the cause of further warming. When this happens, the Earth’s temperature will continue to rise no matter what steps we take to try and stop it. It is said that the next few years will decide the fate of the human race. There is hardly any time left to avoid this disastrous vicious cycle. To achieve a dramatic reduction in our greenhouse gas emissions within the next ten years will require every sector of the society to work together to rapidly change our current economic and social system dependent on fossil fuels. 

The main cause of our climate crisis is the greenhouse gases produced by burning fossil fuels. The U.N.’s International Panel on Climate Change (IPCC) has warned that to maintain a sustainable global environment and avoid climate breakdown, we must reduce the Earth’s average temperature to within 1.5 degrees above the pre-industrial level in line with the targets agreed on at the Paris Agreement. In order to achieve this, it is essential that the construction of any new coal-fired power plants, which emit the highest levels of greenhouse gases, is not allowed anywhere in the world. OECD countries including Japan must abolish coal-fired power plants totally by 2030, and the rest of the world by 2040.

Japan’s 3 megabanks (Mizuho, Mitsubishi UFJ and SMBC), which hold the top three places in the world in lending for coal developers, are deeply implicated in the acceleration of the climate crisis by continuing financing for coal-fired power projects such as Cirebon 2 in Indonesia. Each of these banks has announced policies to limit their financing for coal-fired power projects, but these fall far below compliance with the Paris Agreement and the policies of banks in the West. Moreover, these policies contain big loopholes and they are seemingly now considering to finance the Vung Ang 2 coal-fired power plant in Vietnam, amidst surging international criticism over Japan’s export of coal-fired technology. Whether they will push ahead with this project will be a critical test for the real value of their policies.

The construction of the Vung Ang 2 coal-fired power plant would not only cause air pollution which threatens the health and livelihoods of local residents, but will lock Vietnam into decades of high CO2 emissions, acting as a damper on the development of green energy. Many parts of the world, including Vietnam, are competitively placed to benefit more from solar and wind power than from coal-fired power generation. There are risks that coal-fired power plants would be the stranded assets, and many investors have already divested from coal. Moreover, other major banks have already withdrawn from the Vung Ang 2 project, so the decisions of the 3 megabanks are attracting attention.

Leading up to the shareholder meetings of these three megabanks in just a few weeks, let us appeal for them to strengthen their climate commitments.

  • As a responsible leader in the financial world, work for the creation of a sustainable society and develop a fossil fuel phase-out strategy starting with coal, in line with the Paris Agreement.

  • Stop using loopholes to support the export of coal-fired power plants, and change your policies to invest in energy efficiency and decentralized deforestation-free renewable power generation that will support the future benefit of recipient countries.

Please sign in support of this appeal to help send our demands to the 3 megabanks.

Deadline: Monday, 22nd June, 2020, 9:00am JST(GMT+9)
Contact: 350.org Japan (japan@350.org)

Addresses for Appeals:
Mr. Hironori Kamezawa, President & Group CEO, Mitsubishi UFJ Financial Group 
Mr. Tatsufumi Sakai, President & Group CEO, Mizuho Financial Group
Mr. Jun Ohta, President & Group CEO, SMBC Group

ORGANIZING GROUPS

SIGNED ORGANIZATION LIST

Name of Organization (in English) / グループ・団体名(英語表記)Country / 国
350 Japan日本 (Japan)
Mighty EarthUnited States
350 TaiwanTaiwan
The Sunrise ProjectAustralia
WALHI West Java ( Friends of The Earth - Indonesia )Indonesia
350.org IndonesiaIndonesia
350 AsiaOther
urgewaldGermany
Oil Change InternationalUnited States
BankTrackNetherlands
Foundation "Development YES - Open-Pit Mines NO"Poland
Fund Our Future South Africa
350Tokyo日本 (Japan)
Abibiman FoundationGhana
Center for Environment/ Friends of the Earth Bosnia and HerzegovinaBosnia Herzegovina
AbibiNsroma Foundation (ANF) Ghana
Alliance for Empowering Rural Communities (AERC-Ghana) Ghana
Mom Loves Taiwan AssociationTaiwan
Both ENDSNetherlands
350.orgOther
Global Witness United Kingdom
Reclaim FinanceFrance
Youth For Environment Education And Development Foundation (YFEED Foundation)Nepal
EKOenergy ecolabelFinland
Bucks Environmental Action United States
APLA (Alternative People's Linkage in Asia)日本 (Japan)
Climate Action Network Japan (CAN-Japan)日本 (Japan)
350 PilipinasPhilippines
Oyu Tolgoi Watch NGOMongolia
Rivers without Boundaries CoalitionMongolia
imageMILL日本 (Japan)
Fair Finance InternationalNetherlands
Fossil-free.ch SwitzerlandSwitzerland
Future instead of Coal SwitzerlandSwitzerland
Fridays for Future Hiroshima日本 (Japan)
Fridays for Future Kobe日本 (Japan)
Centre for Environmental JusticeSri Lanka
Friends of the Earth FranceFrance
Kalikasan People's Network for the Environment (Kalikasan PNE)Philippines
Center for Environmental Concerns - Philippines Philippines
Citizens for Climate Japan日本 (Japan)
Kiko Network日本 (Japan)
DIVEST SHIBUYA!日本 (Japan)
Natural Resources Defense Council (NRDC)United States
Fridays For Future Kanazawa日本 (Japan)
Japan Association of Environment and Society for the 21st century(JAES21))日本 (Japan)
横須賀火力発電所建設を考える会日本 (Japan)
Christian AidUnited Kingdom
Fridays For Future Nasu日本 (Japan)
Protect Our Winters Japan日本 (Japan)
Fridays For Future Shizuoka日本 (Japan)
350 AustraliaAustralia
Australian Conservation FoundationAustralia
350 Latin AmericaBrazil
NPO Seven Generations日本 (Japan)
Fridays For Future Saitama日本 (Japan)
GreensJapan日本 (Japan)
Friends of the Earth MalaysiaMalaysia
Friday for future of Hiroshima日本 (Japan)
Ecological Action & People EmancipationIndonesia
Nuclear-free Japan日本 (Japan)
Fridays For Future Yokosuka日本 (Japan)
LRC-KsK Friends of the Earth PhilippinesPhilippines
Market ForcesOther
All Ages ProductionsUnited States
Fridays For Future KAGOSHIMA日本 (Japan)
NLS日本 (Japan)
NGO Forum on ADBPhilippines
Mamademo日本 (Japan)
350 EuropeOther
Greenpeace Southeast AsiaThailand
Green Environment Youth KoreaKorea South
Air Clean TaiwanTaiwan
Bangladesh Krishok Federation Bangladesh
GrowthwatchIndia
Kurasute日本 (Japan)
Bench Australia
SG Climate RallySingapore
350HKChina
ThisorientationUnited States
Fridays For Future Dazaifu日本 (Japan)
Fridays for Future Kyoto日本 (Japan)
CENSAT Friends of the earth ColombiaColombia
350japan日本 (Japan)
International Resources and Energies Student Association (IRESA)日本 (Japan)
Spiral club日本 (Japan)
NPO People's power network日本 (Japan)
spiral club日本 (Japan)
Fridays for Future Fukuoka日本 (Japan)
spiral club日本 (Japan)
spiral club日本 (Japan)
Fridays For Future Tokyo日本 (Japan)
Fridays For Future Chiba日本 (Japan)
Fridays For Future Sendai日本 (Japan)
350HKChina
SEVEN GANALATIONS日本 (Japan)
Fridays For Future Shinshu日本 (Japan)
NoNukes! 野にゆく会日本 (Japan)
Fridays For Future Osaka日本 (Japan)
CED of Okinawa日本 (Japan)
Japan Refashion association日本 (Japan)
Walks of Life FilmsUnited Kingdom
Ueda Citizens’ Energy日本 (Japan)
Green Innovation and Development CentreVietnam
Suginami Seikatsusha Network日本 (Japan)
Friends of the Earth Asia PacificMalaysia
Break Free from Plastic (BFFP)Other
Transition Japan日本 (Japan)
Arab Watch Coalition Morocco

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