Sumitomo to stop investing in new coal-fired power generation projects

Japan's Sumitomo is targeting to exit the coal-fired power plant business by the latter half of 2040, including withdrawing from both domestic and overseas project developments and thermal coal mining, to achieve its goal of reaching carbon neutrality by 2050.

Sumitomo plans to stop investing in new coal-fired power generation projects with the sole exception being the possible expansion of Bangladesh's Matabari coal-fired power plant. The firm is aiming to abandon its thermal coal mine assets by 2030 and complete all ongoing coal-fired power projects by the latter half of 2040.
.Asian Metal CopyrightJapan's Sumitomo is targeting to exit the coal-fired power plant business by the latter half of 2040, including withdrawing from both domestic and overseas project developments and thermal coal mining, to achieve its goal of reaching carbon neutrality by 2050Asian Metal Copyright