Japan's SMFG to tighten policy on financing coal-fired power plants

Economy Society

Sumitomo Mitsui Financial Group Inc. said Wednesday it will tighten its policy on financing coal-fired power plants that emit large amounts of carbon dioxide, halting new lending without exception from next month. In line with global efforts to reduce greenhouse gas emissions, SMFG has in principle stopped providing loans for newly constructed coal-fired plants but kept lending in some facilities. In an updated funding policy effective June 1, the group will remove the exceptions and halt financing of projects to expand existing coal facilities or adopt high-efficient, low-emission technologie...

Kyodo News

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