Read on Twitter
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thermal power generator in Japan - JERA commits to net zero emissions by 2050 and as an interim measure, will close all outdated polluting supercritical / subcritical coal-fired power plants by 2030.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
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/
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/
https://reneweconomy.com.au/japans-marubeni-deals-body-blow-to-coal-in-pivot-to-renewables-97038/ by @renew_economy's @sophvorrath
Which was followed by the Itochu coal exit policy of February 2019. https://www.itochu.co.jp/en/csr/news/2019/190214.html
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
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
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
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
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
https://www.straitstimes.com/asia/east-asia/japan-public-financier-to-stop-approving-loans-for-coal-projects-0 by Walter Sim
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
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.
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
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
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/
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. 
https://www.livemint.com/Companies/1wn4XC3jYDpwwacxsUmFfI/Japans-JERA-acquires-10-stake-in-ReNew-Power-for-200-mill.html
https://www.livemint.com/Companies/1wn4XC3jYDpwwacxsUmFfI/Japans-JERA-acquires-10-stake-in-ReNew-Power-for-200-mill.html
