Despite its commitment to stop funding fossil fuel projects, Japan remains a major financier of oil and gas production, contributing $93 billion from 2013 to 2024. A significant portion of these funds, $56 billion, is allocated for liquefied natural gas (LNG) projects, while only $24.5 billion supports clean energy initiatives. As Japan evolves from a consumer to a significant LNG exporter, it leverages its extensive financing influence to secure energy supplies domestically and internationally, underscoring the tension between its funding practices and climate pledges.
Japan's international influence in energy financing, specifically fossil fuel financing, is enormous, covering all aspects of the fossil fuel supply chain from exploration to power plants.
Japan benefits from LNG investments by gaining more access to supply for domestic needs and opportunities to resell surplus LNG to demand centers.
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