BOJ to conduct annual survey on climate finance to nurture ESG market

2 months ago 11

BOJ to behaviour   yearly  survey   connected  clime  concern   to nurture ESG market © Reuters. FILE PHOTO: A Japanese emblem flutters atop the Bank of Japan gathering successful Tokyo, Japan, September 21, 2016. REUTERS/Toru Hanai

By Leika Kihara

TOKYO (Reuters) - Bank of Japan (BOJ) Deputy Governor Masayoshi Amamiya said connected Sunday the cardinal slope volition behaviour a survey annually of fiscal institutions and companies, seeking ways to nurture the country's increasing clime concern market.

An archetypal survey successful August showed "strong demand" successful Japan for "green" bonds and different environmental, societal and governance (ESG) indebtedness instruments, Amamiya said.

Some respondents said they faced challenges successful obtaining accusation and due methods for assessing risks associated with clime change, helium said.

"Climate alteration has an highly large interaction connected economic, terms and fiscal developments successful the medium- to semipermanent perspective," Amamiya said successful a code to an world forum.

"Central banks tin truthful lend to achieving macroeconomic stableness successful the agelong tally by supporting private-sector moves to woody with clime change."

The BOJ past twelvemonth rolled retired a backing strategy targeting activities aimed astatine combating clime change, arsenic portion of efforts to align itself with a planetary propulsion toward a greener society.

Under the scheme, the cardinal slope offers zero-interest loans doubly a twelvemonth that tin beryllium rolled implicit until 2030 to banks that boost greenish and sustainable loans. It has lent 3.6 trillion yen ($26 billion) to 63 fiscal institutions nether the scheme.

($1 = 139.1000 yen)

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