{"id":79043,"date":"2024-12-20T13:52:17","date_gmt":"2024-12-20T02:52:17","guid":{"rendered":"https:\/\/www.marketforces.org.au\/?p=79043"},"modified":"2024-12-20T13:52:17","modified_gmt":"2024-12-20T02:52:17","slug":"mufg-backs-papua-lng","status":"publish","type":"post","link":"https:\/\/www.marketforces.org.au\/mufg-backs-papua-lng\/","title":{"rendered":"MUFG Shamelessly Backs Papua LNG: Join Us to Stop This Climate and Human Rights Disaster"},"content":{"rendered":"\n
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MUFG<\/strong>, Japan’s largest bank and the world\u2019s top LNG financier<\/a> from 2021 to 2023, has brazenly stepped into the role of financial advisor for the controversial Papua LNG project. This venture, led by Total Energies, ExxonMobil, Santos, and ENEOS (JX Nippon), has already faced massive opposition, with 11 banks<\/a>\u2014including all major French and Australian financiers of its predecessor, PNG LNG\u2014publicly refusing to finance it.<\/p>\n\n\n\n

This rejection by major banks showcases the strength of collective action<\/a> and underscores the overwhelming risks tied to Papua LNG: climate devastation, biodiversity loss, indigenous rights violations, and financial instability. Papua LNG\u2019s lifetime Scope 3 emissions (emissions that would result from burning gas produced by the project) are estimated<\/a> at a staggering 220 million tonnes of CO\u2082 equivalent\u2014equal to the annual emissions of Bangladesh, a nation of 169 million people.<\/p>\n\n\n\n

It is critical now that we build on this momentum. Help us send a message to MUFG<\/strong> and the other two Japanese megabanks, SMBC<\/strong> and Mizuho<\/strong>, making it clear that any involvement with Papua LNG will result in public backlash.<\/p>\n\n\n\n

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Take action<\/strong>: Tell the Japanese megabanks to rule out financing for Papua LNG<\/p>\n\n\n\n

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Take action!<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n
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Take action!<\/h3>\n\n\n\n

Tell the Japanese megabanks to rule out financing for Papua LNG<\/p>\n\n\n