New Internationalist

WORLD IN MOTION

JAPAN

Buddhist temples are shifting investments out of fossil fuels, part of a global ‘divestment’ movement that has so far pulled over $8 trillion from oil, gas and coal companies worldwide. Japan is a key target: three of its biggest banks – Mizuho Financial Group, Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group – are the first, second and fifth-largest lenders to coal projects globally.

A new alliance of Japanese campaigners, supported by the climate action network , is pushing for the withdrawal of an estimated $25 billion. Buddhist priest Tomonobu Narita, who recently shifted part of his temple’s investments into a fossil-free fund, told NBC News: ‘Small action when combined [with the actions of others] leads to a bigger effect, so I hope for divestment to have

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