Currently, Japanese public financial institutions such as Japan Bank for International Cooperation (JBIC) and Japan International Cooperation Agency (JICA) are supporting new fossil fuel projects, even though support for new fossil fuel projects is not consistent with the Paris Agreement. Therefore, JACSES is calling on JBIC and JICA bondholders to engage with JBIC and JICA. as well as divest from, in order to stop them from supporting new fossil fuel projects.
Our Activities:
- April 14, 2022: An open letter regarding an investment policy toward the Japan Bank for International Cooperation (JBIC) providing support for new fossil fuel projects was submitted to 33 JBIC bondholders
- March 30, 2022: An open letter regarding the investment policy in the Japan International Cooperation Agency (JICA), which is preparing to support for new coal-fired power projects
- November 24, 2021: Environmental NGOs filed an objection to the U.S. Securities and Exchange Commission over the explanation that funds of JICA bonds will not be allocated to coal-fired power projects
- July 28, 2021: Letter sent to request to engage with developers and the Japan Bank for International Cooperation (JBIC) not to support new gas projects in Canada and Australia
- July 24, 2021: Press Release: Bondholders challenged JICA to Stop Supporting Coal Projects in Bangladesh and Indonesia
- March 25, 2021: Press Release: NGOs call on 39 JICA Bond Underwriters and Bondholders to urge JICA to Stop Supporting Coal Projects in Bangladesh and Indonesia
Media Coverage:
- November 25, 2021: Covered by Asia Times. “Time for Japan to stop funding coal power in Bangladesh”
- November 25, 2021: Covered by Altena. “Five NGOs filed an objection to the US SEC over JICA’s supports for coal-fired power projects (Japanese Language)”
- November 24, 2021: Covered by Nikkei. ”JICA bonds are not allocated to finance coal-fired projects, Minister for Foreign Affairs Hayashi says (Japanese Language)”
- November 24, 2021: Covered by Nikkei. “Five international environmental NGOs request US SEC to investigate over JICA bonds (Japanese Language)”
- March 25, 2021: Covered by Sustainable Japan. “Environmental NGOs submitted a request letter to JICA underwriters and bondholders, requesting them to stop supports for two coal-fired power plants (Japanese Language)”
