Reveal date: May 23 2019 Status: Active Tagged: banks, climate change, finance

One day after a hoax impersonation shamed Mizuho and other banks for financing new coal power plants against their own industry standards, the real Mizuho announced that they plan to limit their coal-financing policies in the future. Sadly, that real resolution isn't more binding than the fake one.

Despite some banks announcing moves to limit coal finance, Japan's major commercial banks still enable new coal power plants to be built and operated in countries most vulnerable to their social and environmental impacts, including Indonesia and Vietnam, among others.

Read our draft of the Equator Principles 4 and press releases here.

Read the "coming clean" press release here.

Interested stakeholders (i.e. concerned earthlings) should submit feedback for the real EP4, encouraging them to add effective grievance mechanisms, increase transparency, and build in consequences for members like Mizuho, MUFG, and SMBC who break their own industry-standard rules.

For more information and to take action:

Equator Banks Act

No Coal Japan

350.org

Divest Invest Protect

Active dates:
May 2019