Japan’s Marubeni to slash coal-fired power capacity

• 7 years ago (2018-09-20)
• David Flin

Asia 1000 Coal 354

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Marubeni has announced plans to halve its coal-fired power generating capacity and that it will stop investing in new coal-fired power plants. Marubeni’s decision comes amid mounting pressure on businesses to shift investment away from fossil fuels and to combat climate change.

The company said in a statement: “As a global player in the power business, Marubeni will reduce its greenhouse gas emissions volume from its power generation portfolio.”

Under the plan, Marubeni will halve its coal-fired net generation capacity of 3 GW by 2030. It will no longer start new coal power projects “in principle”, and will instead focus on renewable energy. Marubeni has interests in power plants of all types to a combined capacity total of 12 GW.