Climate Changed
Cracks Emerge in Coal Haven as Insurers Mull Funding Curbs
- Dai-Ichi Life won’t offer overseas project financing for coal
- Nippon Life Insurance mulls ending new loans for some projects
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Japanese insurance companies are mulling limits on coal-fired power financing, a small step for a country that hasn’t caught up to global rivals amid growing scrutiny of the planet’s most-polluting major fuel.
While the steps by two of the country’s insurers appear tiny in light of Japan’s role as a global leader in coal project funding, they’ve been highlighted by environmental groups as a milestone in the fight against climate change.