Stop supporting Matarbari
Coal Power Plant!
Japan is one of the last countries considering new coal-fired generation overseas!
While Japan’s biggest banks race to stop coal financing and align with the country’s 2050 net-zero target, official development assistance agency JICA eyes on funding new coal capacity in climate-vulnerable Bangladesh.
29 NGOs from 12 countries have called on 39 JICA Bond Underwriters and Bondholders to urge JICA to stop supporting Coal Projects in Bangladesh and Indonesia.
44 NGOs from 18 countries have called on Japan to stop financing the Matabari Coal-Fired Power Plant Phase II.
Reasons JICA shouldn’t support Matarbari project
1 Climate pledge
JICA financing new coal units are inconsistent with Japan’s commitment to its net-zero pledge, the Paris Climate Agreement, and the SDGs.
2 Environmental damage
Matarbari phase I (unit 1 & 2) project already caused serious environmental damage
Bangladesh already has 60% excess power generation capacity, additional capacity will only worsen its financial burden
If Japan to follow the lead of the U.S. and Europe on decarbonization, they must stop coal funding immediately!!