Media Releases

Japan’s largest banks and power companies have faced a record number of shareholders backing proposals calling for greater action and transparency on meeting net-zero carbon emissions targets. The climate shareholder resolutions targeting Japan’s largest banks and energy corporations were submitted by a range of civil society organizations or their representatives, including, Friends of the Earth Japan, Kiko Network, Market Forces, and Rainforest Action Network.The results demonstrate that the tide has turned for companies failing to align their business practices with the growing risks due to the climate crisis.

39 climate and environmental groups submitted an open letter slamming G7 nations’ push for unviable energy transition technologies. These technologies include fossil gas, ammonia/ hydrogen/ biomass co-firing in existing coal / gas-fired power plants, and Carbon Capture and Storage (CCS), raising concerns that they prolong the use of fossil fuels amid a worsening climate crisis.

The 14th annual Banking on Climate Chaos report is the most comprehensive global analysis on fossil fuel banking. Endorsed by over 624 organizations from 75 countries, it reveals the truth of banks’ commitments to the climate by examining their financing of the fossil fuel industry.

Today, climate-related shareholder resolutions have been announced targeting Japan’s largest banks and energy corporations. A coalition of environment organisations and shareholders have filed the resolutions calling for greater disclosure by the companies on how they will meet their net zero commitments. Resolutions have been filed to three Japanese mega banks and three energy giants.