Reuters reveals Mitsui to sell stakes in coal-based power plants

Japanese trading house Mitsui & Co Ltd plans to sell its remaining stakes in coal-fired power stations by the end of the decade as it shifts to gas from coal to help achieve its 2050 net zero emission target, its chief executive Tatsuo Yasunaga told Reuters. The comment – Mitsui’s first on selling out of coal-fired power generation – comes as firms worldwide move away from coal to cut harmful carbon dioxide emissions and slow climate change. Mitsui, which generates about two-thirds of its profit from energy and metals, is also shifting away from oil.