Japan to promote green finance with common platform, scenario analyses
- FSA, BOJ to conduct scenario analyses on banks, insurers
- FSA to work with Japan bourse on common green bond platform
- Moves follow BOJ’s plan to boost funding to combat climate risk
TOKYO, Sept 1 (Reuters) – Japan will ramp up efforts to promote sustainable finance such as by nurturing its green bond market and analysing financial institutions’ resiliency to climate risks, according to the government’s new regulatory guideline.
In collaboration with the central bank, the Financial Services Agency (FSA) will conduct scenario analyses on Japan’s three mega-banks and top three non-life insurers to measure their resilience to risks posed by climate change.
The analyses will be based on common scenarios on…