Urgent action by JBIC and other official Japanese Export Credit
Agencies to restrict the increase in global temperatures is an urgent
environmental and moral imperative. If all countries take urgent action
then it is possible that mean global temperature rise can be kept below
2 degrees celcius above the pre-industrial level. Even at this level
millions of people will be severely affected by the environmental
effects of the temperature increase, with the major impacts being
largely on the poorest and developing countries, particularly in
sub-Saharan Africa, South Asia, and Latin America.
Asia and its peoples are among the most vulnerable to the impacts of climate change, with hundreds of millions of people living in low lying coastal areas. JBIC as a major source of funding for dirty energy will bear a direct responsibility for the predicted effects shown below.
The Japan Bank for International Cooperation (JBIC) is the largest lender of overseas aid in the Asia Pacific region. And, as such has a central role in the direction the economies of the developing countries in the region. The Japanese government provides 100% of JBIC’s capital.
While this influence could be used to promote sustainable development the vast majority of JBIC funds are used to fund projects that are socially and environmentally damaging. In the energy area only 12.5% of JBIC funds go to renewable energy projects while more than 87.5% goes to fund fossil fuel plants that continue to create dangerous climate change.
JBIC’s fossil fuel bias
The Japan Bank for International Cooperation (JBIC) is one of the largest public financial institutions in the world and provides the most public financing for fossil fuel power plants, especially for coal-fi red plants in Asia.
Between 1993 and 2002 JBIC loaned approximately US$7.6 billion for a total of 53 fossil fuel power generation projects, with most of the loans being for 32 coal projects.
As a result, Japan is one of the world’s largest CO2 emission-contributors in developing countries. This is in complete contradiction to what Japan, as a signatory to the UN Framework Convention on Climate Change and its Kyoto Protocol, asserts. It is hampering appropriate technology and financial transfer by financing dirty energy projects in developing countries .
Between 1993 and 2002, only six renewable energy projects in the following countries have received support from JBIC and these were – the Philippines (two geothermal and one wind project), Indonesia (two small hydro projects), and Brazil (one wind project). The total expenditures for renewables projects for the years 1993-2002 accounted for just 3.3% of the total energy and infrastructure expenditures.
Asia and its peoples are among the most vulnerable to the impacts of climate change, with hundreds of millions of people living in low lying coastal areas. JBIC as a major source of funding for dirty energy will bear a direct responsibility for the predicted effects shown below.
The Japan Bank for International Cooperation (JBIC) is the largest lender of overseas aid in the Asia Pacific region. And, as such has a central role in the direction the economies of the developing countries in the region. The Japanese government provides 100% of JBIC’s capital.
While this influence could be used to promote sustainable development the vast majority of JBIC funds are used to fund projects that are socially and environmentally damaging. In the energy area only 12.5% of JBIC funds go to renewable energy projects while more than 87.5% goes to fund fossil fuel plants that continue to create dangerous climate change.
JBIC’s fossil fuel bias
The Japan Bank for International Cooperation (JBIC) is one of the largest public financial institutions in the world and provides the most public financing for fossil fuel power plants, especially for coal-fi red plants in Asia.
Between 1993 and 2002 JBIC loaned approximately US$7.6 billion for a total of 53 fossil fuel power generation projects, with most of the loans being for 32 coal projects.
As a result, Japan is one of the world’s largest CO2 emission-contributors in developing countries. This is in complete contradiction to what Japan, as a signatory to the UN Framework Convention on Climate Change and its Kyoto Protocol, asserts. It is hampering appropriate technology and financial transfer by financing dirty energy projects in developing countries .
Between 1993 and 2002, only six renewable energy projects in the following countries have received support from JBIC and these were – the Philippines (two geothermal and one wind project), Indonesia (two small hydro projects), and Brazil (one wind project). The total expenditures for renewables projects for the years 1993-2002 accounted for just 3.3% of the total energy and infrastructure expenditures.
Star Power for Clean Power
JayR
Despite his insane schedule, JayR still found time to support the Greenpeace campaign for clean energy. In a 15-second video he recorded for the international environmental group, JayR called on his fans to support Greenpeace and clean energy.
