INVESTOR activist group Market Forces and different environmental nonprofits filed shareholder proposals with a number of Japanese megabanks and utilities, in search of to require them to reveal extra particular plans on how they’ll work to satisfy local weather targets set by the Paris Agreement.
The proposals goal Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc. Power utilities Tokyo Electric Power Co. and Chubu Electric Power Co. additionally obtained resolutions, in addition to buying and selling large Mitsubishi Corp.
The activists are calling on the megabanks to create and disclose transition plans that match lending and funding portfolios with Paris Agreement targets. They argue that the banks’ local weather targets and insurance policies aren’t aligned with 2050 web zero pathways set by the International Energy Agency and the Net Zero Banking Alliance.
Japan has a objective to grow to be carbon impartial by 2050, and each the federal government and the non-public sector have referred to as on utilizing a wide range of strategies to scale back emissions. Power producers like Jera Co., a three way partnership between Tepco and Chubu Electric, are betting on growing applied sciences like carbon seize and storage and co-firing fossil gasoline technology with ammonia or hydrogen.
But that strategy threatens to increase the operational lives of each new and deliberate coal-fired crops, the activist organizations mentioned in an announcement.
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Green teams goal Japan’s mega banks on local weather motion
Business Mirror – Apr 12
INVESTOR activist group Market Forces and different environmental nonprofits filed shareholder proposals with a number of Japanese megabanks and utilities, in search of to require them to reveal extra particular plans on how they’ll work to satisfy local weather targets set by the Paris Agreement.
Japan’s home worth will increase moderating
globalpropertyguide.com – Apr 11
The common worth of present condominiums in Tokyo rose by 4.8% (inflation-adjusted) in 2022 from a yr earlier, a pointy slowdown from a year-on-year improve of 10.65% within the prior yr.
Toyota to launch 10 new EV fashions by 2026
NHK – Apr 08
Toyota Motor has unveiled its new technique for electrical automobiles. The auto large says it now goals to introduce 10 new fashions by 2026 and promote 1.5 million items a yr.
Exiting BOJ chief defends financial easing as Japan out of deflation
Japan Today – Apr 08
The Bank of Japan’s financial easing was “appropriate” and efficient in jolting Japan out of deflation, and its retention underneath new management is of utmost significance as inflation expectations are heightening, outgoing Governor Haruhiko Kuroda mentioned Friday.
Japan EV gross sales simply 2 % of home market
Nikkei – Apr 07
Japan’s electric-vehicle gross sales are increasing quickly, led by extra inexpensive kei minicars. But EVs nonetheless accounted for simply 2.1% of latest passenger automobile gross sales right here in fiscal 2022, in contrast with practically 20% in China and Europe.
Tokyo inflation cools for second month, however exceeds BOJ goal
Reuters – Apr 01
Core shopper inflation in Japan’s capital Tokyo slowed in March for a second month however remained properly above the central financial institution’s 2% goal, information confirmed on Friday, highlighting broadening worth pressures on this planet’s third-largest financial system.
Mizuho and Line to scrap on-line financial institution mission in Japan
Nikkei – Mar 30
Mizuho Financial Group and messenger app Line are getting ready to desert plans to develop smartphone-based Line Bank, Nikkei realized on Wednesday, after value overruns and delays allowed rivals to hit the market first.
Japan outlaws ‘stealth advertising and marketing’
NHK – Mar 30
Japan’s Consumer Affairs Agency has moved to crack down for the primary time on the shady promoting observe generally known as stealth advertising and marketing.
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