November 25, 2022
Financial Services Agency
Establishment of the “Working Group on Financial Institutions’ Efforts towards the Decarbonization of the Economy”
As the world moves toward the establishment of a sustainable society, there is growing importance of finance that promotes the transition to new industrial and social structures. It is important for financial institutions to promote effective initiatives that contribute to improving sustainability in cooperation with companies, while taking into account international discussions and the characteristics of client companies and local areas.
In this context, at the international level, major financial institutions continue discussions on transition plans that are consistent with carbon neutrality by 2050 and based on scientific evidence, while regional financial institutions develop and promote effective approaches towards energy conservation or decarbonization, etc. in cooperation with their client companies, taking into account regional strategies and supply-chain trends.
The Financial Services Agency established the “Working Group on Financial Institutions’ Efforts towards the Decarbonization of the Economy" under the Expert Panel on Sustainable Finance. Referring to domestic and international trends and examples, the Working Group will discuss measures to facilitate dialogue between financial institutions and companies, including useful points to keep in mind when financial institutions engage in efforts toward decarbonization.
The members of the Working Group will include representatives from industry, financial practitioners and academics with relevant ministries and agencies as observers. The Strategy Development Division of the Strategy Development and Management Bureau of the Financial Services Agency will serve as the secretariat.
Strategy Development Division, Strategy Development and Management Bureau, Financial Services Agency
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