Union Bank: Stop Funding Climate Destruction

Target: Kanetsugu Mike, CEO of Mitsubishi UFJ Financial Group

Goal: Stop funding deforestation, tar sands pipelines, and coal plants.

Japan’s biggest bank is fueling the climate disaster by funding deforestation and dirty energy. Mitsubishi UFJ Financial Group (MUFG), otherwise known as Union Bank in the United States, has a history of financing conflict palm oil, coal fired power plants, and destructive pipeline projects.

The extractive industry that MUFG has funded has been catastrophic for biodiversity and indigenous communities. In Indonesia, the funding of palm oil plantations has aided in the destruction of some of our most critical carbon sinks: tropical rainforests and peatlands. MUFG put $550 million into the palm oil industry just in the last two and a half years.

In addition to funding the expansion of the coal industry, MUFG was the big bank behind Enbridge’s Line 3 pipeline. This controversial project runs from Alberta, Canada, through indigenous lands, to Minnesota and the Great Lakes. This pipeline, along with many other projects, does not respect native people’s rights to free and prior consent.

MUFG has endorsed the UN Principles for Responsible Banking and has publicly committed to align its business practices with the Sustainable Development Goals and the Paris Climate Agreement. However, their actions do not line up. Sign below to demand that MUFG stop funding extractive industry such as palm oil, pipelines, and coal plants in order to protect the environment from the climate disaster.

PETITION LETTER:

Dear Mr. Mike,

Your funding of extractive industry is destroying biodiversity, disrespecting indigenous rights, diminishing critical carbon sinks ,and fueling the climate crisis. Your business practices do not align with your commitments to Sustainable Development Goals, Responsible Banking and the Paris Climate Agreement.

MUFG is such a large bank that your decisions are influential to the rest of the banking sector. I encourage you to be a role model for big banks by making sustainable and ethical business choices. In doing so, I demand that you stop funding extractive industry such as palm oil, pipelines, and coal plants in order to protect our planet from climate crisis.

Sincerely,

[Your Name Here]

Photo Credit: Backbone Campaign


One Comment

  1. Robert Ortiz says:

    Be responsible and think about the environment and the impact of your company’s actions!

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