Japan's Mitsubishi UFJ Financial Group will no longer provide financing for...
A pedestrian walks next to a logo of the Mitsubishi UFJ Financial Group Inc. outside a branch of its bank, The Bank of Tokyo-Mitsubishi UFJ in Tokyo, Japan, May 15, 2015. REUTERS/Yuya Shino
MUFG, one of the world’s largest banks by assets, said the decision will gradually reduce the balance of its exposure to coal power station projects. It will take a cautious approach to the coal-fired power generation projects for which the bank has started considering financing before July 1, it said in a statement.
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