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thermal power generator in Japan - JERA commits to net zero emissions by 2050 and as an interim measure, will close all outdated polluting supercritical / subcritical coal-fired power plants by 2030.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://abs.twimg.com/emoji/v2/... draggable="false" alt="🇯🇵" title="Flagge von Japan" aria-label="Emoji: Flagge von Japan">https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> 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...
This follows Mitsui & Co& #39;s announcement to exit coal fired power generation in Asia by 2030 earlier this week! https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇯🇵" title="Flagge von Japan" aria-label="Emoji: Flagge von Japan">https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> https://twitter.com/TimBuckleyIEEFA/status/1315535519082668033?s=20">https://twitter.com/TimBuckle...
And follows Marubeni Corp& #39;s landmark pivotal September 2018 announcement to exit coal fired power plant EPC and progressively divest from its existing #coal power.
Which I& #39;m proud to saw @simonjnicholas & I suggested in July 2018. https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇯🇵" title="Flagge von Japan" aria-label="Emoji: Flagge von Japan">https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> https://ieefa.org/ieefa-report-marubenis-coal-commitments-are-putting-its-power-business-in-jeopardy/">https://ieefa.org/ieefa-rep...
Which was followed by the Itochu coal exit policy of February 2019. https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇯🇵" title="Flagge von Japan" aria-label="Emoji: Flagge von Japan">https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> https://www.itochu.co.jp/en/csr/news/2019/190214.html">https://www.itochu.co.jp/en/csr/ne...
And then in March 2019 Sojitz divested its thermal coal mining operations in Indonesia and then Australia in April 2020. https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇯🇵" title="Flagge von Japan" aria-label="Emoji: Flagge von Japan">https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen">
https://www.sojitz.com/en/news/2019/03/20190311.php">https://www.sojitz.com/en/news/2...
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://abs.twimg.com/emoji/v2/... draggable="false" alt="🇯🇵" title="Flagge von Japan" aria-label="Emoji: Flagge von Japan">https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen">
https://www.smbc.co.jp/news_e/e600579_01.html">https://www.smbc.co.jp/news_e/e6...
And then in April 2020 we saw the announcement that Mitsubishi was exiting thermal coal (selling its 11% stake in New Hope Corp.) https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇯🇵" title="Flagge von Japan" aria-label="Emoji: Flagge von Japan">https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> 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/u...
And April 2020& #39;s coal exit announcement by Mizuho Financial Group Inc. https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇯🇵" title="Flagge von Japan" aria-label="Emoji: Flagge von Japan">https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> 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/u...
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://abs.twimg.com/emoji/v2/... draggable="false" alt="🇯🇵" title="Flagge von Japan" aria-label="Emoji: Flagge von Japan">https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen">
https://www.straitstimes.com/asia/east-asia/japan-public-financier-to-stop-approving-loans-for-coal-projects-0">https://www.straitstimes.com/asia/east... 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">https://www.sumitomocorp.com/ja/jp/ir/...
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_Asi...
And because this is really a positive story of Japan& #39;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://abs.twimg.com/emoji/v2/... draggable="false" alt="🇯🇵" title="Flagge von Japan" aria-label="Emoji: Flagge von Japan">https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> 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/2020/01/1...
And back in 2017 JERA pivoted into the largest #RenewableEnergy growth market in the world, taking a 10% stake in India& #39;s RE leader @ReNew_Power. https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇯🇵" title="Flagge von Japan" aria-label="Emoji: Flagge von Japan">https://abs.twimg.com/emoji/v2/... draggable="false" alt="🇮🇳" title="Flagge von Indien" aria-label="Emoji: Flagge von Indien">https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> https://www.livemint.com/Companies/1wn4XC3jYDpwwacxsUmFfI/Japans-JERA-acquires-10-stake-in-ReNew-Power-for-200-mill.html">https://www.livemint.com/Companies...
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