As awareness of the urgency of climate change grows, the OECD’s export credit group (ECG) is currently conducting talks on policies for high carbon intensity power plants (mainly coal-fired power plants) supported by export credit agencies (ECAs), which applies to the Japan Bank for International Cooperation (JBIC) and Nippon Export and Investment Insurance (NEXI). Establishing greenhouse gas emission standards for high carbon intensity power plants supported by ECAs and a timeline for this dialogue were proposed. This matter is expected to be settled prior to COP21 in December 2015.
In regards to talks by the ECG among OECD countries, the Japanese government has been adamantly opposed to the proposal of greenhouse gas emission standards for high carbon intensity power plants supported by ECAs. Alternatively, the Japanese government has proposed to continue their support for coal-fired power plants through their ECAs on the basis of best available technologies (BATs) that suit national circumstances.
3 Japanese NGOs: Japan Center for a Sustainable Environment and Society (JACSES), Kiko Network and Friends of the Earth Japan submitted Recommendations set forth by Japanese NGOs: The Japanese government’s position on upporting coal-fired power generation through ECAs (PDF) to Ministry of Economy, Trade and Industry (METI) and Ministry of Finance (MoF).