When Tokyo had a rare snowfall on February 5, many staff from Japan’s Ministry of Finance worked from home due to the suspension of public transport. However, this did not derail the Japanese government from making history that month when it issued the first sovereign climate transition bonds.
The bonds are part of Japan’s plans “for promoting transition to a decarbonised, growth-oriented economic structure”, known as the GX strategy. The country aims to reduce emissions by 46 per cent from 2013 levels by 2030, and to become carbon neutral by 2050.
