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Mark Meyrick

Head of Trading & Smart Grids Ecotricity

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Experienced trader and trading manager in the energy and carbon markets now developing an intelligent and fit for purpose Virtual Power Plant aggregation proposition for Ecotricity. Previously...

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Japan pours money into coal fired generation

Jan 8, 2021 5:11 pm GMTJan 8, 2021 3:46 pm GMT
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Oh dear...anyone remember the scheme Japan mooted to replace the Clean Development Mechanism, the Bilateral Offset Crediting Mechanism - which was all about exporting Japanese equipment and very little about real additional emissions reductions?
Well here you can see the policy stripped bare, with the Japanese Bank for International Co-operation pumping $636 million into Vietnamese coal fired generation. Their strapline is 'Supporting your Global Challenges'. Well meaninglessness aside, they certainly aren't supporting mine, the main one of which IS climate change.
Very, very disappointing

https://www.jbic.go.jp/en/information/press/press-2020/1229-014147.html

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Matt Chester on Jan 8, 2021

Thanks for sharing, Mark-- do you have any recommendations for background reading on the Japanes Bank for International Co-operation and these types of actions? Is this more of the same, or is this a pattern?

Mark Meyrick on Jan 16, 2021

I'm not a particular Japan watcher Matt, so 'no' I don't. What I would observe though is Japan's dealings with the developing world don't always bear scrutiny. They persuaded a lot of landlocked African countries to sign up to the IWC and align themselves with Japanese voting in return for aid.

Jim Stack on Jan 11, 2021

Mark, This information is very scary. How can anyone be investing is such destructive and costly energy when Renewables are the lowest cost and cleanest? I just can't imagine what their goal is. Japan makes some of the best Solar Panels in the world. What do you think their objective is ?

Henry Craver on Jan 15, 2021

Will the infrastructure be built with Japanese technology? Also, is it in the interest of Japanese companies for Vietnam to have a stronger power structure so they can manufacture more products there? I'm not sure, those are just two reasons that came to mind.

Mark Meyrick on Jan 16, 2021

For Japan it's all about exports - regardless of Japan's Kyoto (ironic!) commitments, as I mentioned with the Bilateral Offset Crediting Mechanism. You were only eligible for those credits IF your project used Japanese kit

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