Study from FF Japan on the release of wastewater from the Fukushima Daiichi Nuclear Power Plant into the Pacific Ocean

Fair Finance Guide Japan recently published a Case Study on the release of "ALPS treated" wastewater from the stricken Fukushima Daiichi Nuclear Power Plant into the Pacific Ocean. 

The operator TEPCO along with the Japanese Government unilaterally decided to release the water despite opposition from the people of Fukushima, neighboring countries and moreover, from indigenous peoples communities in the Pacific. Project finance with direct impacts conducted in the Global South would have required stringent assessment and monitoring under the Equator Principles. However, despite this project having direct impacts in the South, banks and the operators dodged such responsibilities by claiming the project takes place geographically within Japan's territories.

Fair Finance Guide Japan condemns this double standard of assessment and monitoring and presses banks to adopt more consistent ESG policies.

Read more here.