"声明：MUFGはNZBA脱退後も約束を反故にせず、 パリ協定1.5度目標に整合しない企業への融資中止を," 9 April 2025

"Unofficial Japanese-to-English translation by Business & Human Rights Resource Centre"

Following Mitsubishi UFJ Financial Group's (MUFG) withdrawal from the Net Zero Banking Alliance (NZBA), an international banking framework that supports decarbonation efforts, Rainforest Action Network issued a statement calling on MUFG to maintain its commitment to align its investment and loan portfolio with the 1.5 degree target of the Paris Agreement and to stop financing companies that are not aligned with the Paris Agreement.

RAN sent two emails to MUFG in March and April, asking why the group was withdrawing. The group responded, "As we consider future climate change measures, we have comprehensively assessed the benefits of continuing our membership in the NZBA," and "MUFG's commitment to achieving carbon neutrality and contribution to achieving the 1.5 degree target of the Paris Agreement remains unchanged."

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Last December, local residents, indigenous peoples, and civil society groups in the Gulf Coast of the United States sent letters to the NZBA, its parent organization, the Glasgow Financial Alliance for Net Zero (GFANZ), and the United Nations, expressing concerns about the withdrawal of member banks from the NZBA and urged the NZBA not to give in to pressure and to uphold its commitment, calling on member banks to align with the Paris Agreement’s goal of limiting global temperature rise to 1.5°C. In March this year, all three of Japan's megabanks withdrew from the NZBA.

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MUFG told RAN that it was a member of the NZBA steering group until March 2025, but said it would "refrain from commenting" on the relationship between the review of the policies and its withdrawal.