Tell the World’s Biggest Coal Financiers to STOP Investing in Coal Plants
and Help Fight Climate Change
Three megabanks in Japan are continuing to push climate-busting,
coal-fired power plant technology in countries across Southeast Asia and
other parts of the world. Urge them to reverse course.
[ [link removed] ]ACT NOW
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[ [link removed]{{user.id}}&utm_source=alert&utm_medium=button&utm_campaign=email&t=1006&tkd=6503928&akid=10923%2E6503928%2EwYzN2J ]DONATE
[ NRDC ]NRDC (Natural Resources Defense Council)
Dear NRDC Activist,
Together, the three biggest commercial financiers of coal plant projects
in the world have doled out over $39 billion in direct loans to coal plant
developers since 2017.
That's right: Despite the increasing urgency to address the climate
crisis, Mizuho, Mitsubishi UFJ, and SMBC — the three biggest banks in
Japan — are still financing coal-fired power projects around the world.
These same banks are also supporting the Keystone XL tar sands pipeline in
the US.
We need as many people as possible — in the U.S. and around the world — to
send the banks a message loud and clear: We will NOT allow them to
mortgage the future viability of our planet for short-term profit.
[ [link removed] ]Call on these banks to divest immediately from coal and to strengthen
their climate commitments!
The U.N.'s Intergovernmental Panel on Climate Change (IPCC) issued the
world a dire warning that climate catastrophe could come as soon as 2040
if we don't act now to rapidly reduce greenhouse gas emissions on a
massive, global scale. And last year, U.N. Secretary General Antonio
Guterres called on countries around the world to end coal plant
construction by 2020.
Coal-fired power plants emit the highest levels of greenhouse gases of any
power source. They're also the biggest industrial source of mercury
pollution and emit countless other harmful chemicals that dirty our air
and increase our risks of developing asthma, cancer, and other diseases.
Far less costly clean energy sources — like wind, solar, and battery
storage — are now widely accessible and profitable: Over $2.6 trillion was
invested in renewable energy in the last decade.
NRDC is doing everything in our power to hold these three banks
accountable, just as we've done with countless corporations, financial
institutions, and governments around the world. But we need your help.
All three banks have put in place coal lending restrictions thanks to
activist pressure, but the policies contain loopholes allowing lending for
several upcoming projects, such as the controversial Vung Ang 2 project in
Vietnam. These banks just had their annual meetings and refused to end
support for coal, despite pressure from their own shareholders.
[ [link removed] ]Call on the CEOs of Japanese megabanks Mizuho, Mitsubishi UFJ, and SMBC
to end ALL of their companies' coal projects, divest from coal entirely,
and commit to prioritizing clean energy technologies — such as wind
turbines and battery storage — to help fight climate change.
We must move away from dirty fossil fuels and transition to cleaner,
smarter ways to power our future — and we can't do that without shutting
down coal plants across the world and divesting from new coal projects.
By doubling down on antiquated, climate-busting technology, these
megabanks are complicit in accelerating the climate crisis and condemning
our children to a world of widening damage and growing peril.
[ [link removed] ]Can I
count on you to stand with me and NRDC and make your voice heard today?
Thanks for taking action.
Sincerely,
Han Chen
Manager for International Energy Policy, NRDC
The mission of the Natural Resources Defense Council (NRDC) is to
safeguard the Earth: its people, its plants and animals, and the natural
systems on which all life depends.
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