To reduce greenhouse gases Acceleration of “coal removal” movement in the financial industry September 20, 11:38
In principle, the domestic financial industry is accelerating the withdrawal of investment and financing for coal-fired power plants, which emit a large amount of carbon dioxide, in order to reduce greenhouse gases.
Of these, non-life insurance giant Sompo Japan, in principle, invests in and finances the construction of new coal-fired power plants with low efficiency and high carbon dioxide emissions, and underwrites insurance in case of disasters. I decided to cancel it.
The policy is to implement this from December.
Tokio Marine Holdings and MS & AD Holdings, other major non-life insurance companies, are also considering whether to take similar measures.
The background is that how to reduce greenhouse gases is a global issue based on the Paris Agreement, an international framework for climate change countermeasures.
Banks and major life insurance companies have already invested in and financed coal-fired power plants in the domestic financial industry, as “ESG investment” that invests with an emphasis on whether or not the company is positively tackling environmental issues is spreading around the world. The movement of "decoaling" is accelerating, such as withdrawal.