Jun 29, 2022 - Kentaro Nunokawa - Market Forces (Volunteer)
Ukrainian Environmental NGOs urge Japanese companies to stop fossil fuel imports from Russia
On June 20, Ukrainian Environmental NGO coalition, Energy Transition Coalition, sent letters to 6 Japanese companies (JFE Steel, Nippon Steel, JERA, TEPCO, Chubu Electric Power, and Hokkaido Gas) that have continued buying Russian fossil fuels after the Russian invasion of Ukraine. The letters call for the companies to stop importing Russian fossil fuels and to promote renewable energies.
Jun 21, 2022 - Viktor Tachev
The Curious Case of SMBC Group – Financing Climate Change Offenders
While SMBC Group has taken some positive steps in terms of its green commitments, it falls way behind global and even local competitors. Unless the financial institution makes a dramatic U-turn, it will bear the consequences of excessive stranded asset and reputational risks.
Jun 20, 2022 - Center for International Environmental Law
Japanese Bank Financing of the East African Crude Oil Pipeline – Backgrounder on Environmental, Social, and Governance Risk
The East African Crude Oil Pipeline (EACOP) is a 5 billion USD, 1,443km pipeline that will transport 216,000 barrels per day of electrically heated crude oil from Uganda to the port of Tanga in Tanzania for export, generating annual carbon emissions roughly equivalent to the carbon footprint of nine coal-fired power plants at peak production. The Sumitomo Mitsui Banking Corporation is acting as financial advisor to the lead developer of the project and joint lead arranger for the $3 billion project loan that will provide the majority of the financing for the project.
May 27, 2022 - Carbon Tracker
Stop Fuelling Uncertainty: Why Asia should avoid the LNG trap
According to Carbon Tracker's report, Stop Fuelling Uncertainty, Japan, South Korea, and Vietnam's opportunities for renewables are vast and more cost-competitive than gas. Increasing their dependence on volatile gas markets for energy sector needs will expose these countries to commodity price risk and the risk of billions of dollars worth of LNG infrastructure becoming stranded.
May 20, 2022 - Environmental NGOs
Analysis of SMBC Group’s policy update and board opinion confirms the need for climate-related shareholder proposals
Environmental NGOs present a detailed analysis regarding updated announcements from SMBC Group and the board opinion on the shareholder proposals filed.