These are the facts about SMBC's role in the climate crisis:

Since 2017, SMBC has lent US$7.9 billion to coal plant developers.

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(Source: Urgewald, 2019) 

SMBC’s incremental policy changes are full of loopholes, allowing the bank to fund coal power across Southeast Asia. Worse, they continue to fund coal plants that violate their own modest policies. SMBC is linked to four new coal plants.

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(Source: Market Forces, 2019)

Despite being the first Japanese bank to reconsider their coal financing policy due to climate change, they are the only Japanese bank that has increased its financing of coal power every single year since 2016.

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(Source: GTR, 2018 and RAN, 2020)

SMBC finances companies responsible for rainforest & peatland destruction in Indonesia. Associated forest fires in 2019 killed millions of animals and made Indonesia the sixth largest carbon-emitting country in the world.

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(Source: RAN, 2020)

The Nghi Son 2 coal plant, which SMBC is backing, will emit nearly 27 times more air pollution than the average domestic Japanese coal plant and twice as much CO2 per megawatt as the average plant in Vietnam.

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(Source: No Coal Japan, 2019.)

SMBC reportedly financed the Cirebon 2 coal project in Indonesia that has been mired in allegations of corruption and bribery — including multiple arrests.

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(Source: Market Forces, 2019 and No Coal Japan, 2019).

The pandemic has elevated the importance of global solidarity and public health. Yet, Japanese financing of coal projects, such as Vung Ang 2, is damaging human health and the environment. Environment Minister Shinjiro Koizumi has acknowledged global criticism on Japan’s coal finance.

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(Source: Nikkei Asian Review, 2019)

SMBC: Live up to your new commitment to sustainability and stop funding coal.