{"id":17747,"date":"2018-05-08T16:00:00","date_gmt":"2018-05-08T07:00:00","guid":{"rendered":"https:\/\/prod-jp-raw.greenpeace.org\/japan\/press-release\/press-release_554\/"},"modified":"2024-07-08T09:03:16","modified_gmt":"2024-07-08T00:03:16","slug":"press-release_554","status":"publish","type":"press-release","link":"https:\/\/www.greenpeace.org\/japan\/press-release\/press-release_554\/","title":{"rendered":"Japanese financial institution takes first step towards divestment from coal"},"content":{"rendered":"<div class=\"contents\">\n<div class=\"leader\">\n<div>May 9, 2018 Tokyo, Japan \u2014 In response to the Dai-ichi Life Insurance Company\u2019s announcement on coal power plant finance restriction, a group of Environmental NGOs, Japan Center for a Sustainable Environment and Society (JACSES), Friends of the Earth Japan (FoE Japan), Kiko Network, 350.org Japan, Greenpeace Japan and Rainforest Action Network, issued the following statement:<\/div>\n<\/div>\n<div>\n<p>\u201cWe welcome the news of the Dai-ichi Life Insurance Company adopting a policy to end new project financing for overseas coal power plants. As far as we know this is the first time that a Japanese financial institution has announced such a policy indicating the first step towards divestment from coal development. We commend this forward-thinking action taken by the Dai-ichi Life Insurance Company.<\/p>\n<p>However, science indicates that we cannot allow any new coal plants to be built if want to keep global warming well below 2 degrees Celsius as set out in the Paris Agreement and prevent catastrophic climate change. So we compel the Dai-ichi Life Insurance Company to take a step further by also restricting project finance for domestic coal power plants projects as well.<\/p>\n<p>Major European insurance firms such as AXA and Allianz are leading the way by divesting from businesses that are involved in large-scale coal-fired power plant expansion projects. We foresee that this trend will expand throughout the financial sector.<\/p>\n<p>It has been reported by the Nikkei Newspaper that Nippon Life Insurance Company is also considering putting in place similar restrictions around lending to new coal fired power plants.<\/p>\n<p>Japanese financial institutions, starting with \u2014 Mitsubishi UFJ Financial Group, Mizuho Financial Group, and Sumitomo Mitsui Financial Group \u2014 should take heed of actions taken by the Dai-ichi Life Insurance Company and act accordingly by adopting policies that will restrict new lending and investment into both international and domestic coal-fired power plant projects and companies involved in coal development and move toward divestment from the coal sector.\u201d<\/p>\n<p dir=\"ltr\"><strong>Contacts:<br \/>\n<\/strong>Chisato Jono, Communications Officer, Greenpeace Japan, email:\u00a0chisato.jono@greenpeace.org, mob: +81 (0) 80-6558-4446<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>May 9, 2018 Tokyo, Japan \u2014 In response to the Dai-ichi Life Insurance Company\u2019s announcement on coal power plant finance restriction, a group of Environmental NGOs, Japan Center for a&hellip;<\/p>\n","protected":false},"author":5,"featured_media":0,"template":"","tags":[],"press-release-category":[14,99,68],"class_list":["post-17747","press-release","type-press-release","status-publish","hentry","press-release-category-press-release","press-release-category-climate-change","press-release-category-renewable-energy"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.greenpeace.org\/japan\/wp-json\/wp\/v2\/press-release\/17747"}],"collection":[{"href":"https:\/\/www.greenpeace.org\/japan\/wp-json\/wp\/v2\/press-release"}],"about":[{"href":"https:\/\/www.greenpeace.org\/japan\/wp-json\/wp\/v2\/types\/press-release"}],"author":[{"embeddable":true,"href":"https:\/\/www.greenpeace.org\/japan\/wp-json\/wp\/v2\/users\/5"}],"version-history":[{"count":1,"href":"https:\/\/www.greenpeace.org\/japan\/wp-json\/wp\/v2\/press-release\/17747\/revisions"}],"predecessor-version":[{"id":23104,"href":"https:\/\/www.greenpeace.org\/japan\/wp-json\/wp\/v2\/press-release\/17747\/revisions\/23104"}],"wp:attachment":[{"href":"https:\/\/www.greenpeace.org\/japan\/wp-json\/wp\/v2\/media?parent=17747"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.greenpeace.org\/japan\/wp-json\/wp\/v2\/tags?post=17747"},{"taxonomy":"press-release-category","embeddable":true,"href":"https:\/\/www.greenpeace.org\/japan\/wp-json\/wp\/v2\/press-release-category?post=17747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}