Tuesday 11 April 2023

Japanese banks told ‘stop financing fossil fuels’

Japanese banks told ‘stop financing fossil fuels’

Three of Japan’s largest banks are being asked to stop financing fossil fuels by a combination of climate groups.

Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group are those being lobbied – with the claim of the campaigners that Japan is behind the rest of the world in ending oil and gas financing.

Company shareholder resolutions are being filed for a vote, led by Kiko Network and Market Forces from Australia.

Friends of the Earth Japan are also involved in the push for a shareholder vote, as more investors seek climate action from firms they wish to do business with.

All three banks have been approached for comment.

Written by

Bruna Pinhoni

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