No Clear Exit: Japan’s resistance to a real coal phaseout #JapanFinance

Japan’s recent general election and the upcoming revision of its Strategic Energy Plan offer the important opportunity for Japan’s governments and banks to reset their current misguided direction on coal. Japan is the only G7 country without a coal power phaseout deadline. Instead of transitioning from coal to renewables, the Japanese government is promoting, both domestically and internationally, expensive and likely ineffective technologies that aim to extend the lifespan of coal plants.

This report by Reclaim Finance and Kiko Network, endorsed by 24 organizations, shows how the Japanese government’s misguided coal policies have influenced the financing practices of the country’s three megabanks and risks derailing Asia’s energy transition.