Tokyo, 11 November 2020 – It has been reported that Toshiba will no longer be accepting orders for coal-fired power plants, and will also be increasing investments in the renewable energy field fivefold. In response to this, Greenpeace Japan has released the following statement:
Daniel Read, Greenpeace Japan Climate and Energy Campaigner
“UN Secretary-General Antonio Guterres has repeatedly pointed out that we must exit from coal now if we are to keep global warming below 1.5 degrees, and following on from the recent net zero announcement by the Suga administration, it is heartening to see that Toshiba has taken these warnings seriously and will no longer be taking orders for coal-fired power plants. The World Energy Outlook 2020 recently highlighted the fact that coal is in structural decline, and by stopping coal Toshiba has also avoided exposure to what will soon be stranded assets.
At the recent TCFD conference hosted by METI, Bank of England Governor Mark Carney noted that sustainability and climate consideration must lie at the heart of all financial decisions moving forward. Whilst putting a stop to new coal business is a start, Toshiba is still deeply involved in coal projects all over the world, most notably in South East Asia. A complete separation from coal, both new and existing projects, and moving wholly to renewables is the only option that makes long-term sense, both financially and environmentally.
Much work still remains, and putting an end to coal does not mean that nuclear is a viable alternative. If we are to make the Paris Agreement and net zero by 2050 a reality, the only way forward is a renewable energy future, free of coal and of nuclear power. We urge Toshiba and other companies to lead business without coal or nuclear power.
ENDS