＜Joint Press Release＞
June 22, 2021
350.org Japan
Japan Center for a Sustainable Environment and Society (JACSES)
Kiko Network
Friends of the Earth Japan
Rainforest Action Network
Mekong Watch
Greenpeace Japan
143 Organizations from more than 30 countries call on the 3 Japanese megabanks to end fossil fuel finance
Japan — 143 organizations from more than 30 countries and regions, including environmental NGOs, youth groups, and civil society groups, have submitted a petition calling on the three Japanese megabanks, Mitsubishi UFJ Financial Group, SMBC Group, and Mizuho Financial Group, to phase out financing and investments for the fossil fuel sector and the forestry sector, for the role they play in accelerating the climate crisis. The petition was delivered before the banks’ Annual Shareholders Meetings on 23 June.
The petition notes that whilst the three megabanks have improved their climate response in recent years, their efforts are simply not enough to align with the Paris Agreement. Last month, the International Energy Agency (IEA) announced that, in order to achieve net zero emissions by 2050, no more investments should be directed to new fossil fuel projects, and existing facilities should be gradually phased out. However, the current targets set by the banks to curb financed GHG emissions do not meet these requirements. The petition also pointed out that their policies on coal power, coal mining, oil and gas, and forest-related sectors must go further.
The three banks are the world’s top three lenders to the coal industry and the world’s principal financiers of fossil fuels— the major contributor to the worsening climate crisis.
The groups are demanding that the three megabanks demonstrate leadership towards a carbon-free society through responsible financial actions as described below:
Demands*:
- We call upon the banks to cease funding new fossil fuel-related projects and projects that involve deforestation without exceptions.
- We call upon the banks to outline a strategy to phase out existing investment and financing for fossil fuel projects or related companies on a timeframe that is consistent with the Paris Agreement 1.5 degree target, and to clarify short-, medium-, and long-term targets and metrics for the achievement of these objectives.
- We call upon the banks to ensure that your roadmap for decarbonization doesn’t rely on practically unproven technologies, such as CCUS and co-combustion.
* Please refer to “Principles for Paris-Aligned Financial Institutions” for more details.
Reference: Special webpage (https://350jp.org/3megabank-petition-org-eng/)
Petition texts (English Translation)
https://world.350.org/ja/files/2021/06/PetitionDelivery_3-JP-megabanks_June2021-EN.pdf
Contact:
350.org Japan ([email protected])
Signed Organizations:
| 350 Argentina | Argentina |
| Australian Conservation Foundation | Australia |
| Friends of the Earth Australia | Australia |
| Bangladesh Working Group on Extenral Debt (BWGED) | Bangladesh |
| CLEAN (Coastal Livelihood and Environmental Action Network) | Bangladesh |
| 350 Brazil | Brazil |
| Asian Environmental Youth Network | China |
| Save Virunga | Congo {Democratic Rep} |
| 350 Pacific | Fiji |
| Friends of the Earth France | France |
| Reclaim Finance | France |
| 350.org Germany | Germany |
| Urgewald | Germany |
| African Stars Foundation | Ghana |
| Alliance for Empowering Rural Communities | Ghana |
| Centre for Research and Advocacy, Manipur | India |
| Environics Trust | India |
| 350.org Indonesia | Indonesia |
| Alliance of Indonesia Student Executive Board (BEM SI) | Indonesia |
| BEM TANRI ABENG UNIVERSITY | Indonesia |
| Fossil Free University of Indonesia | Indonesia |
| Friday For Future Indonesia | Indonesia |
| Friends of the Earth Indonesia | Indonesia |
| Lambung Mangkurat University Student Executive Board | Indonesia |
| Student Association of Faculty of Mathematic and Natural Science University of Indonesia | Indonesia |
| Student Body of FKB TELKOM UNIVERSITY | Indonesia |
| Student Executive Board Diponegoro University | Indonesia |
| Student Executive Board Esa Unggul University | Indonesia |
| Student Executive Board of Universitas Pembangunan Nasional Veteran Jakarta | Indonesia |
| Student Executive Board of Universitas PGRI Mahadewa Indonesia | Indonesia |
| Student Executive Board Universitas Indonesia | Indonesia |
| Student Government of University of Sumatra Utara | Indonesia |
| WALHI West Java ( Friends of the Earth Indonesia ) | Indonesia |
| All Party System Co. | Ivory Coast |
| GEYK(Green Environment Youth Korea) | Korea South |
| Climate Action Malaysia (KAMY) | Malaysia |
| Friends of the Earth Asia Pacific | Malaysia |
| Friends of the Earth Malaysia | Malaysia |
| Klima Action Malaysia (KAMY) | Malaysia |
| Oyu Tolgoi Watch | Mongolia |
| Community Empowerment and Social Justice Network (CEMSOJ) | Nepal |
| BankTrack | Netherlands |
| Pakistan Fisherfolk Forum | Pakistan |
| Rural Development Policy Institute | Pakistan |
| 350 Pilipinas | Philippines |
| Asian Energy Network (AEN) | Philippines |
| Asian Peoples Movement on Debt & Development | Philippines |
| Center for Environmental Concerns – Philippines Inc. | Philippines |
| Kalikasan People’s Network for the Environment (Kalikasan PNE) | Philippines |
| Legal Right and Natural Resources Center | Philippines |
| Philippine Movement for Climate Justice | Philippines |
| Youth Advocates for Climate Action Philippines | Philippines |
| 350 SG | Singapore |
| Centre for Environmental Justice | Sri Lanka |
| Climate City Zurich | Switzerland |
| fossil-free.ch Switzerland | Switzerland |
| Future instead of coal Switzerland | Switzerland |
| 350 Taiwan | Taiwan |
| Air Clean Taiwan | Taiwan |
| Anti-air pollution alliance of southern Taiwan | Taiwan |
| Citizen of the Earth, Taiwan | Taiwan |
| Environmental Rights Foundation | Taiwan |
| International Climate Development Institute (ICDI) | Taiwan |
| Mom Loves Taiwan Assiciation | Taiwan |
| Taiwan Youth Climate Coalition | Taiwan |
| Green South Foundation | Thailand |
| 350 for Climate | Turkey |
| 350 Europe | United Kingdom |
| Christian Aid | United Kingdom |
| 350.org US | United States |
| Bucks Environmental Action | United States |
| Inclusive Development International | United States |
| Mighty Earth | United States |
| Oil Change International | United States |
| The Law and Policy of Sustainable Development Research Center | Vietnam |
| 350 Eigo | 日本 (Japan) |
| 350 New ENEration | 日本 (Japan) |
| 350.org Japan | 日本 (Japan) |
| 350Tokyo | 日本 (Japan) |
| 350volunteer chushikoku network | 日本 (Japan) |
| Art Island Center | 日本 (Japan) |
| ATTAC Japan | 日本 (Japan) |
| Bench coffee co. | 日本 (Japan) |
| Blue earthnet Hiroshima | 日本 (Japan) |
| Citizens Alliance for Saving the Atmosphere and the Earth (CASA) | 日本 (Japan) |
| Citizens’ Climate Lobby Japan | 日本 (Japan) |
| Climate Action Network Japan (CAN-Japan) | 日本 (Japan) |
| Climate Emergency Action Fujisawa | 日本 (Japan) |
| EAS-Y Green | 日本 (Japan) |
| Fridays for future Kumamoto | 日本 (Japan) |
| Fridays For Future Dazaifu | 日本 (Japan) |
| fridays for future fukuoka | 日本 (Japan) |
| Fridays For Future Furano | 日本 (Japan) |
| Fridays For Future Hiroshima | 日本 (Japan) |
| fridays for future iwate | 日本 (Japan) |
| Fridays For Future Kagoshima | 日本 (Japan) |
| Fridays For Future Kobe | 日本 (Japan) |
| Fridays For Future Kyoto | 日本 (Japan) |
| Fridays For Future Niigata | 日本 (Japan) |
| Fridays for Future Osaka | 日本 (Japan) |
| Fridays For Future Sapporo | 日本 (Japan) |
| Fridays For Future Sendai | 日本 (Japan) |
| Fridays For Future Shiga | 日本 (Japan) |
| Fridays For Future Tokyo | 日本 (Japan) |
| Fridays For Future Yamaguchi | 日本 (Japan) |
| Friends of the Earth Japan | 日本 (Japan) |
| going my way+ | 日本 (Japan) |
| Green People’s Power | 日本 (Japan) |
| Greenpeace Japan | 日本 (Japan) |
| Greens Japan | 日本 (Japan) |
| Japan Association of Environment and Society for 21th century | 日本 (Japan) |
| Japan Center for a Sustainable Environment and Society (JACSES) | 日本 (Japan) |
| Japan Congress against A- and H-Bombs(GENSUIKIN) | 日本 (Japan) |
| Kiko Network | 日本 (Japan) |
| Mekong Watch | 日本 (Japan) |
| Niseko Eco Project | 日本 (Japan) |
| No Coal Yokosuka | 日本 (Japan) |
| NPO Seven Generations | 日本 (Japan) |
| NPO.EE.Harmony | 日本 (Japan) |
| Peoples Energy Chiba | 日本 (Japan) |
| peoples’ power network | 日本 (Japan) |
| Pepe movie Hk | 日本 (Japan) |
| poco a poco ~Attaka miraiwo tukurukai~ from Hiroshima | 日本 (Japan) |
| Powershift Suginami | 日本 (Japan) |
| Proliance Japan Co. Ltd | 日本 (Japan) |
| Protect Our Winters Japan | 日本 (Japan) |
| PV-Net（PV owners Network） | 日本 (Japan) |
| Rainforest Action Network | 日本 (Japan) |
| SDGs shikoku 88 | 日本 (Japan) |
| SODEGAURA SIMINNGA NOZOMU SEISAKU KENNKYUUKAI | 日本 (Japan) |
| Spiral Club | 日本 (Japan) |
| URAEUS | 日本 (Japan) |
| Workers corporation Shibayama Agreen | 日本 (Japan) |
| Zero Emission Bunkyo | 日本 (Japan) |
| MAMANO CHOCOLATE(Kotaro inc.) | 日本 (Japan) |
| Save the Earth! Action97 | 日本 (Japan) |
| 350 Asia | Other |
| 350.org | Other |
| 350Africa.org | Other |
| Avaaz | Other |
| CEE Bankwatch Network | Other |
| EKOenergy ecolabel | Other |
| Green TEA | Other |