UPDATE 1-Mizuho to stop lending to new coal power projects [Reuters (UK)]
Mizuho Financial Group, Inc. Sponosred ADR (Japan) (MFG)
US:NYSE Investor Relations:
mizuho-fg.com/investors/index.html
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Source: Reuters
Mizuho to stop lending to new coal power projects - Reuters 4 Min Read TOKYO (Reuters) - Mizuho Financial Group will stop financing new coal power projects and end all loans for coal by 2050, bowing to pressure from a group of leading investors for climate concessions ahead of the bank’s annual shareholders’ meeting in June. The policy change leaves Japan’s third-biggest bank by assets plenty of wriggle room on lending to projects planned or under construction, while the 2050 cutoff was dismissed by activists as too late for an exit from the dirtiest fossil fuel. Mizuho, among the world’s biggest lender to coal power plant developers, said in a statement on Wednesday it would cut its outstanding balance of 300 billion yen ($2.8 billion) in loans to coal power projects as of March this year in half by 2030 and reduce it to zero by 2050. A shareholder resolution sent to Mizuho management last month calls on the bank to outline a plan and set targets so that its business practices are mo
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Sec Filings
- 11/14/24 - Form 6-K
- 11/14/24 - Form 6-K
- 11/14/24 - Form 6-K
- MFG's page on the SEC website