But it continues to be one of the worsT drivers of climate change.

*Source: SMBC.CO.JP

SMBC says its mission is: 

"TO contribute to a sustainable society, by addressing environmental and social issues."*

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.
(Source: Urgewald, 2019

Bankrolling the climate crisis 

Weak policies allow new coal plants

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.
(Source: Market Forces, 2019)

© Kemal Jufri / Greenpeace

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.
(Source: GTR, 2018 and RAN, 2020)

First to talk,

last to act

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.
(Source: RAN, 2020)

Destroying

orangutan

homes

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.

(Source: No Coal Japan, 2019.)

Generating deadly

pollution

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

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

Embroiled in scandalous

projects

Harming

Japan’s

global

reputation 

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.

(Source: Nikkei Asian Review, 2019)

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

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