Japan's second largest bank to stop new financing for coal-fired power plants

On March 12, Japan's second largest bank Sumitomo Mitsui Financial Group Inc.Asian Metal Copyright said it is halting new financing for all coal-fired power plants, becoming the first major Japanese lender to make such a pledge amid increasing pressure on banks to cut coal-based funding.Asian Metal Copyright said it is halting new financing for all coal-fired power plants, becoming the first major Japanese lender to make such a pledge amid increasing pressure on banks to cut coal-based funding.

The move comes after Japan announced last month that the country aims to nearly double its target for cutting carbon emissions and as governments and companies globally move towards decarbonisation.
.Asian Metal Copyright The move comes after Japan announced last month that the country aims to nearly double its target for cutting carbon emissions and as governments and companies globally move towards decarbonisationAsian Metal Copyright