Thread by @TimBuckleyIEEFA, Wow - the biggest thermal power generator in Japan

Wow - the biggest thermal power generator in Japan - JERA commits to net zero emissions by 2050 and as an interim measure, will close all outdated polluting supercritical / subcritical coal-fired power plants by 2030.

https://energy.economictimes.indiatimes.com/news/coal/japans-jera-to-shut-inefficient-coal-fired-power-plants-by-2030/78638374

Japan's JERA to shut inefficient coal-fired power plants by 2030 - ET EnergyWorld

Closing inefficient coal power stations is in line with government policy but this was the first time a power company declared an intention to match t..

https://energy.economictimes.indiatimes.com/news/coal/japans-jera-to-shut-inefficient-coal-fired-power-plants-by-2030/78638374

This follows Mitsui & Co's announcement to exit coal fired power generation in Asia by 2030 earlier this week!

https://twitter.com/TimBuckleyIEEFA/status/1315535519082668033?s=20

https://twitter.com/TimBuckleyIEEFA/status/1315535519082668033?s=20

And follows Marubeni Corp's landmark pivotal September 2018 announcement to exit coal fired power plant EPC and progressively divest from its existing #coal power.
Which I'm proud to saw @simonjnicholas & I suggested in July 2018.

https://ieefa.org/ieefa-report-marubenis-coal-commitments-are-putting-its-power-business-in-jeopardy/

IEEFA report: Marubeni’s coal commitments are creating 'needless reputational and financial risk' -...

July 30, 2018 (IEEFA.org) —Japanese multinational Marubeni Corp.’s coal-fired power generation strategy has left the company dangerously exposed to rapid changes in global energy markets, concludes a...

https://ieefa.org/ieefa-report-marubenis-coal-commitments-are-putting-its-power-business-in-jeopardy/

https://reneweconomy.com.au/japans-marubeni-deals-body-blow-to-coal-in-pivot-to-renewables-97038/ by @renew_economy's @sophvorrath

Japan’s Marubeni deals “body blow” to coal, in pivot to renewables

Japanese energy giant reveals plans to halve its ownership of coal power by 2030, and withdraw completely from building new coal fired generators.

https://reneweconomy.com.au/japans-marubeni-deals-body-blow-to-coal-in-pivot-to-renewables-97038/

Which was followed by the Itochu coal exit policy of February 2019.

https://www.itochu.co.jp/en/csr/news/2019/190214.html

Provides information about [Coal-related business policy]. ITOCHU, one of the leading sogo shosha, is engaging in domestic trading, import/export, and overseas trading of various products such as...

https://www.itochu.co.jp/en/csr/news/2019/190214.html

And then in March 2019 Sojitz divested its thermal coal mining operations in Indonesia and then Australia in April 2020.

https://www.sojitz.com/en/news/2019/03/20190311.php

And building on this was the March 2020 announcement by Sumitomo Mitsui Banking Corporation (SMBC) to restrict coal power finance in consideration of building climate and ESG risks.

https://www.smbc.co.jp/news_e/e600579_01.html

And then in April 2020 we saw the announcement that Mitsubishi was exiting thermal coal (selling its 11% stake in New Hope Corp.)

https://www.reuters.com/article/us-japan-coal-australia/mitsubishi-materials-sells-down-stake-in-coal-miner-new-hope-idUSKBN20F0RR

Mitsubishi Materials sells down stake in coal miner New Hope

Japan's Mitsubishi Materials Corp has sold its stake in Australian coal producer New Hope Corp for A$157.6 million ($104.00 million), cashing out after more than 30 years, as part of a realignment of...

https://www.reuters.com/article/us-japan-coal-australia/mitsubishi-materials-sells-down-stake-in-coal-miner-new-hope-idUSKBN20F0RR

And April 2020's coal exit announcement by Mizuho Financial Group Inc.

https://www.reuters.com/article/us-coal-japan-mizuho-climatechange/mizuho-says-it-will-stop-lending-to-new-coal-power-projects-idUSKCN21X0F5

Mizuho to stop lending to new coal power projects

Mizuho Financial Group will stop financing new coal power projects and end all loans for coal by 2050, bowing to pressure from a group of leading investors for climate concessions ahead of the bank's...

https://www.reuters.com/article/us-coal-japan-mizuho-climatechange/mizuho-says-it-will-stop-lending-to-new-coal-power-projects-idUSKCN21X0F5

And the April 2020 commitment by Mr Coal, the Governor of Japanese Bank of International Cooperation (JBIC) to cease funding new coal power plants.

https://www.straitstimes.com/asia/east-asia/japan-public-financier-to-stop-approving-loans-for-coal-projects-0 by Walter Sim

Japan public financier to stop approving loans for coal projects,

East Asia News -A top Japanese public financier of foreign development projects has said it will stop accepting loan applications for coal power plants, as global pressure ramps up on the world's

https://www.straitstimes.com/asia/east-asia/japan-public-financier-to-stop-approving-loans-for-coal-projects-0

And the August 2020 coal policy announcement by Sumitomo Corp. (Hint: @simonjnicholas has a major new Sumitomo Corp coal report pending, we expect a significant follow up announcement by the company to solidify their coal power exit policy). https://www.sumitomocorp.com/ja/jp/ir/financial/investors-guide/2019

2019年度：統合報告書／アニュアルレポート

「2019年度：統合報告書／アニュアルレポート」についてご紹介している住友商事の投資家情報ページです。

https://www.sumitomocorp.com/ja/jp/ir/financial/investors-guide/2019

So then a question: Do @AngusTaylorMP @keithjpitt or @ScottMorrisonMP, or @GladysB (she's probably a bit distracted by home front corruption issues) even know Japan is Australia's largest coal export destination?
A$9.6bn annual exports for

, headed to zip according to the @IEA.

So then a question: Do @AngusTaylorMP @keithjpitt or @ScottMorrisonMP, or @GladysB (she's probably a bit distracted by home front corruption issues) even know Japan is Australia's largest coal export destination?A$9.6bn annual exports for , headed to zip according to the @IEA.

Of course they do. So as Waleed Aly of @theprojecttv said, where is our transition plan? https://twitter.com/IEEFA_AsiaPac/status/1315947341719896070?s=20

https://twitter.com/IEEFA_AsiaPac/status/1315947341719896070?s=20

I'd include @mattjcan in this question, except we know where he stands! Besides, Matty is too busy doing @glencore's bidding spruiking a new taxpayer subsidised stranded expensive Collinsville plant using their Shine Energy letterbox plaything. https://www.theguardian.com/business/2020/jul/31/shine-energy-listed-glencore-as-project-partner-in-collinsville-power-station-proposal by @BenSmee

Shine Energy listed Glencore as 'project partner' in Collinsville power station proposal

Exclusive: documents used by inexperienced company to seek funding name mining giant as partner for coal plant

https://www.theguardian.com/business/2020/jul/31/shine-energy-listed-glencore-as-project-partner-in-collinsville-power-station-proposal

And because this is really a positive story of Japan's pivot from outdated technology to the new, JERA has already announced its pivot into offshore wind in Japan in January 2020, knowing this is the next big thing for

https://www.staradvertiser.com/2020/01/16/news/with-coal-power-under-fire-2020-could-be-a-big-year-for-wind-energy-in-japan/

With coal power under fire, 2020 could be a big year for wind energy in Japan

TOKYO >> One day, resource- deprived Japan may no longer have to import its energy, nor rely on nuclear power or coal, thanks to a renewable source with vast potential: offshore wind power.

https://www.staradvertiser.com/2020/01/16/news/with-coal-power-under-fire-2020-could-be-a-big-year-for-wind-energy-in-japan/

And back in 2017 JERA pivoted into the largest #RenewableEnergy growth market in the world, taking a 10% stake in India's RE leader @ReNew_Power.