May 22, 2019
Mizuho Financial Group, Inc.
1-5-5 Otemachi, Chiyoda-ku, Tokyo
Mizuho and Other Banks Victimized by Environmentalist Hoax
TOKYO -- On Monday morning, a press release announced a new edition of the Equator Principles, the industry guidelines for environment and human rights compliance. However, this press release was fake, made to look like it was sent from the real Equator Principles website.
The announcement falsely reported that Mizuho, along with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Banking Corporation, had been ejected from Equator Principles membership for financing the coal power plants Van Phong 1 and Nghi Son 2 in Vietnam and Cirebon 2 in Indonesia. This is not true, however: Mizuho Bank is still a member of the Equator Principles.
Most managers of Mizuho Financial Group oppose climate change and firmly believe mass extinction to be undesirable. But it was simply not possible to satisfy the Equator Principles in their entirety for these coal-power projects. We have instead engaged in robust dialogue with other EFPIs and civil society groups about the best ways to attempt adherence to these well-intentioned, non-binding principles. We know the EP Secretariat prefers to have institutions such as Mizuho, MUFG and SMBC be part of that process, so we do not expect to be ejaculated by the Equator Principles.
Mizuho thinks about the impacts of projects we make possible through financing and we always put a pleasant face forward in every matter, unlike our underhanded opponents attempting to coal-shame us for our role in building profitable anthracite-based energy solutions.
We also finance renewable energy projects.