COP27: Fridays For Future Japan reiterates its protest against the government and companies following awarding of "Fossil Prize" to Japan for financing fossil fuel projects
"COP27活動報告：日本が今年も化石賞を受賞" 19 November 2022
■ Japan wins Fossil Prize
On 9 November, when COP27's theme was 'Finance Day', Japan received the Fossil Prize.
The Fossil Prize is an award given by environmental NGOs to countries that have not been proactive in tackling climate change, with the irony that this is the third year in a row that Japan has received the prize.
The reason for this year's award was that the country "contributes the most public funds to fossil fuels in the world".
At the awards ceremony, the presenter said that Japan is spending money on expanding its gas business in Asia and is trying to drill for gas in places like Mozambique, the Philippines and Vietnam.
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■ Japan continues to finance fossil fuels
According to a report published by environmental NGO Oil Change International on 8 November, Japan has financed fossil fuel projects with an annual average of approximately USD 106 (JPY 1.59 trillion) and a total of USD 318 (JPY 4.77 trillion) over the three years from 2019 to 2021, the highest amount of public funding in the world.
Public financing of fossil fuels includes, for example:
- LNG Canada project (financed by the Japan Bank for International Cooperation (JBIC). Mizuho Bank, Bank of Mitsubishi UFJ, Sumitomo Mitsui Banking Corporation, Mitsui Trust & Banking Co., fund connector pipeline).
- Barossa gas field development project (financed by the JBIC. JERA proposed the project together with foreign companies).
- Matarbari coal project (financed as ODA by JICA; Sumitomo Corporation was a contractor).
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■ Commit to change Japanese companies and governments that are dragging their feet on climate change action
Changing Japanese companies' continued dependence on fossil fuel projects and the Japanese government's support of these companies by financing them rather than regulating them is one of the most important aspects of the global climate change agenda.
We will continue to work with activists abroad to protest against Japan's fossil fuel projects.