Japan-based Mizuho Financial Group Inc. will restrict financing for new coal-fired power projects starting July 1 to help address environmental issues, Reuters reported May 22.

The bank said in a revised sustainability policy that it will only finance projects in line with international guidelines and plants that use ultra-supercritical or more advanced technology, with a company spokeswoman saying exceptions could be made for certain projects as long as they comply with international guidance.

Earlier in May, Mitsubishi UFJ Financial Group Inc. announced it will limit financing for new coal-fired power generation projects after July 1.