MUFG, Mizuho, SMBC: It's time to end coal investments!
Mitsubishi UFJ Financial Group, Mizuho, Sumitomo Mitsui Banking Corporation rank as the top three lenders of coal in the planet.
As they hold their annual shareholder meetings this week we want them to make good on their pronouncements to implement policies that will end their financing for coal-fired power projects because these are necessary steps that ensure a just recovery and transition to a better future for those most in need in the wake of the COVID-19 crisis.
Numerous studies have already established the negative impacts of coal power generation that harms both communities and ecosystems, as well as cause global warming.
Moreover, investors have already caught on to the fact that coal can no longer be the least-cost option for baseload demand, even before externalities such as public health impacts and environmental damage are priced in.
Coal is an obsolete energy source that is already being phased out by renewable energy technologies –help us move investments for a clean energy future by signing up.