Read the Final Statement published by the NCP 15 January 2021: English
On 19 September 2018, Market Forces, an Australian NGO that advocates sustainable behaviors in the financial sector in Australia and internationally, submitted a specific instance to the Japanese NCP alleging that Mizuho Financial Group,Inc., Sumitomo Mitsui Banking Corporation and Mitsubishi UFJ, all Japanese headquartered enterprises in the financial sector, had not observed the General Policies (Chapter II), Disclosure (Chapter III), Human Rights (Chapter IV), and Environment (Chapter VI) provisions of the Guidelines. Specifically, the submitters claim that the financial institutions should be exercising their influence on information disclosure and environmental and human rights issues in relation to the planned construction of a coal-fired power plant in Vietnam, given their intent to finance the project.
After meeting individually with each party involved in the specific instance, the NCP completed its initial assessment on 21 February 2020, deciding that the issues raised merit further consideration.
Both parties participated in mediation but were not able to reach agreement on issues raised. The parties did however agree that they had expressed their opinions to each other, that the submitters would maintain contact with the companies, and that the enterprises Involved would respect the vision of the Guidelines and conduct suitable due diligence in accordance with the Equator Principles (EP), and continue their policy of engagement towards future EP revisions
On 15 January 2021, the NCP published the final statement, officially concluding the specific instance without issuing recommendations.