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    JFSA Consults on Guidelines for Climate Transition Finance

    April 05, 2021

    JFSA proposed guidelines on the implementation of climate transition finance, with the comment period on these guidelines ending on April 16, 2021. The draft guidelines, which were formulated by the Study Group on Environmental Improvement for Effective Transition-Finance, highlight the significance of promoting transition-finance initiatives in tandem with the initiatives to realize a decarbonized society based on the global objective of carbon-neutrality by 2050. The study group that formulated these draft guidelines was established by JFSA, the Ministry of Economy, Trade, and Industry (METI), and the Ministry of Environment to formulate basic principles for transition-finance in Japan, particularly in terms of raising funds through transition bonds and loans.

    The International Capital Markets Association (ICMA) issued, in December 2020, the Climate Transition Finance Handbook to provide clear guidance and common expectations to capital markets participants on the practices, actions, and disclosures to be made available when raising funds in debt markets for climate transition-related purposes. The Climate Transition Finance Handbook acts as guidance for issuers seeking to utilize green bonds, sustainability bonds, or sustainability-linked bonds toward the achievement of their climate transition strategy. The guidelines issued by JFSA are in line with the Climate Transition Finance Handbook from ICMA. 

     

    Comment Due Date: April 16, 2021

    Keywords: Asia Pacific, Japan, Banking, Securities, Climate Change Risk, Green Bonds, Sustainable Finance, ESG, Transition Risk, ESG, JFSA

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