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




  • In Business
  • 2022-11-27 05:13:00Z
  • By Reuters
 

By Leika Kihara

TOKYO (Reuters) - Bank of Japan (BOJ) Deputy Governor Masayoshi Amamiya said on Sunday the central bank will conduct a survey annually of financial institutions and companies, seeking ways to nurture the country's growing climate finance market.

An initial survey in August showed "strong demand" in Japan for "green" bonds and other environmental, social and governance (ESG) debt instruments, Amamiya said.

Some respondents said they faced challenges in obtaining information and appropriate methods for assessing risks associated with climate change, he said.

"Climate change has an extremely big impact on economic, price and financial developments in the medium- to long-term perspective," Amamiya said in a speech to an academic forum.

"Central banks can therefore contribute to achieving macroeconomic stability in the long run by supporting private-sector moves to deal with climate change."

The BOJ last year rolled out a funding scheme targeting activities aimed at combating climate change, as part of efforts to align itself with a global push toward a greener society.

Under the scheme, the central bank offers zero-interest loans twice a year that can be rolled over until 2030 to banks that boost green and sustainable loans. It has lent 3.6 trillion yen ($26 billion) to 63 financial institutions under the scheme.

($1 = 139.1000 yen)

(Reporting by Leika Kihara; Editing by William Mallard)

COMMENTS

More Related News

How beavers are reviving wetlands
How beavers are reviving wetlands

Wetlands are being lost at a faster rate than forests, but in some regions beavers are part of the solution.

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

  • nail cutter set
    (2022-12-15 07:51:59Z)

    Get the best quality nail cutter set from Rivaj. Explore the variety of nail cutter collections online at Rivaj. Order your favorite cutter set in all over Pakistan at low prices.

    REPLY
  • Women Sports Shoes in pakistan
    (2022-12-15 10:38:00Z)

    Servis brings the latest Women Sports Shoes in Pakistan at reasonable prices. Servis provides the best collections of sports shoes for women online. So, order your favorite sports shoes today.

    REPLY
  • embroidered shirts
    (2022-12-28 15:27:24Z)

    Etisal brings you the best ready to wear and luxury pret shirts So, hurry up and grab their amazing embroidered shirts for girls today. The perfect party dress online is always available to grab from Etisal. So, hop on and get the latest casual daily wear Pret for women in Pakistan from Etisal.

    REPLY
  • liquid foundation in Pakistan
    (2023-01-04 13:54:54Z)

    Flormar brings amazing powder Foundation and liquid foundation in Pakistan. Flormar liquid foundation gives you a natural look and also works as a primer for your makeup. It can be applied to any skin type.

    REPLY

Top News: Business