Japan's Sumitomo Mitsui to end corporate finance exposure to coal mining by 2040

Contributing sentiments towards policy:

62% : Japan's second largest bank by assets was getting most of its new energy funding opportunities in the renewable energy sector, followed by hydrogen, Kannan said, adding that the group would progressively reduce overall exposure to gas-related transactions.
57% : Environmental activists are increasingly pushing Japanese 'megabanks' away from investing in, or financing, fossil fuels like coal, which still has strong support in Japan.
48% : Kannan said decisions on offering financial support to carbon capture were "not easy" as it would still mean developing a coal-based utility, but called ammonia co-firing a "good option" provided power generated from coal was quickly displaced by ammonia.
44% : SINGAPORE, Feb 9 (Reuters) - Sumitomo Mitsui Banking Corp (SMBC) will not have any corporate and project finance exposure to coal mining by 2040 but does not have a concrete timeline for reducing support to trade finance, a senior company official said on Thursday.

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