SMBC is not a responsible bank. They should not be allowed to join the Green Climate Fund!
Japan's Sumitomo Mitsui Banking Corporation (SMBC) is the world’s third biggest lender to coal plant developers and continues to finance coal plants that undermine global climate goals SMBCapplied for accreditation to receive money from the United Nations' Green Climate Fund (GCF)despite its massive funding for coal power plant projects. We believe that the GCF, which is mandated by the UN climate convention to support developing countries in addressing climate change impacts, should not be accrediting institutions that have funded coal projects in Indonesia, Vietnam, Bangladesh and other parts of Asia. Help us tell the Green Climate Fund Board that coal funders cannot be legitimate partners in implementing climate projects in developing countries. There is no justification for the GCF to consider subsidizing a dirty company with public funds that are needed, now more than ever, for urgent climate action.
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