Corporate Players

Net Zero by 2050 means no expansion of new fossil fuels, but Japanese companies like Mitsubishi and JERA are still funding new fossil fuels despite their commitments. 

Many companies are getting significant profits from their coal, LNG, and other fossil fuel related resource businesses, including operating existing coal-fired power plants in various countries in the world. These companies are aggressively investing in LNG as “transitional fuel” and hydrogen and ammonia as next-generation energy despite the need to phase out fossil fuels.

Following is a list of major trading companies and selected projects they are supporting.
(Please visit Project page for more details.)

Marubeni 

Joining coal-fired power plant projects in Southeast Asia

  • Vietnam, Nghi Song 2 coal-fired power plant (1,200MW)
  • Indonesia, Cirebon Unit 2 coal-fired power plant (1,000MW)
  • Philippines, Pagbilao 1 and 2 coal-fired power plants (735MW in total)

Mitsubishi Corporation

Developing coal-fired power plant projects in Southeast Asia, LNG project in Canada

  • Vietnam, Vung Ang 2 (VA2) coal-fired power generation project (1,200MW)
  • Vietnam, Quang Trach 1 coal-fired power plant (1,200MW)
  • Japan, Hirono IGCC and the Nakoso IGCC (Integrated coal Gasification Combined Cycle) power plants
  • Canada, LNG project
  • Pakistan, Tabeer LNG import terminal

Sumitomo Corporation

Developing coal-fired power plant projects in Southeast Asia

  • Indonesia, Tanjung Jati B coal-fired power generation project and further expansion plan (2,000MW total)
  • Vietnam, Van Phong 1 coal-fired power generation project (1,320MW)
  • Bangladesh, Matarbari Power Plant 1 (1,200MW)

Mitsui & Co.

  • Russia, Arctic LNG 2

ITOCHU Corporation:

  • Indonesia, Batang coal-fired power plant (2,000MW)

Due to these involvements in fossil fuel projects, Marubeni, Sumitomo and Mitsubishi Corporation are listed on Urgewald’s Global Coal Exit List (GCEL).

Furthermore, major Japanese power utilities such as JERA and J-POWER are deeply involved in various fossil fuel projects in countries around the world, and are developing power generation technologies which utilize hydrogen and ammonia. JERA is a joint venture company that is responsible for the entire supply chain for TEPCO Fuel & Power and Chubu Electric Power (two of the biggest Japanese electrical utilities), from upstream supply to downstream power generation.

JERA

  • Australia, Barossa gas field and link it by pipeline (JERA Barossa)  
  • Indonesia, Cirebon Unit 2 coal-fired power plant (1,000MW)
  • Philippines, Pagbilao 1 and 2 coal-fired power plants (735MW in total)

J-POWER (Electric Power Development Co Ltd)

  • Japan, GEMESIS Matsushima coal-fired power station (adding a gasification unit)