Coal Financing Since Glasgow: $21 billion
Over the past 3 years, Japanese commercial banks provided over $21 billion to the coal industry, and the annual figures already demonstrate a clear downward trend. In 2024, Japanese coal financing was at $5.9 billion, down from 8.7 billion in 2022 – a decrease of almost 33%. But if Japanese banks are serious about limiting global warming to 1.5°C or even 2°C, they need to go a step further and make coal phase-out commitments for 2030 in OECD countries and for 2040 in the rest of the world.
Top 5 Japanese Coal Banks
"The two biggest Japanese banks need to stop dragging their feet. Their portfolios read like a who is who of companies that are resisting a transition. Mizuho and Mitsubishi UFJ urgently need to adopt coal phase-out commitments without loopholes."
Ayumi Fukakusa, Director of FoE Japan