The only way forward to achieve the Paris Agreement target and safeguarding the sustainable development goals is to halt any new development of coal, oil and gas, and to redirect financial flows towards sustainable renewable energy for all.
Shareholders representing $22 billion investment have put four of Japan’s largest companies in the spotlight on climate-risk management.
Oil, gas and coal production and emissions are a primary threat to our water, health, biodiversity and ability to provide economic and energy security.
For 30 years the UN IPCC reports have proven beyond doubt that climate impacts are increasingly frequent and devastating.
The report documents that in the six years since the Paris Agreement was adopted, the world’s 60 largest private banks financed fossil fuels with USD $4.6 trillion, with $742 billion in 2021 alone.
NGOs welcome Sumitomo Corporation’s decision to end support for coal-fired power plant and urge the Japanese government and JICA to follow.
