TOKYO, June 18 — Japan’s central bank on Friday announced its first investment fund for efforts to address climate change, as the government works towards its new target of reaching carbon neutrality by 2050.
The scheme, likely to start this year, will be a successor to an existing programme aimed at promoting economic growth more generally, the Bank of Japan said after a two-day policy meeting.
“Climate change issues could exert an extremely large impact on developments in economic activity and prices as well as financial conditions from a medium- to long-term perspective,” its policy statement said.
“The bank considers that supporting the private sector’s efforts on the issues from a central bank’s standpoint will contribute to stabilising the macroeconomy in the long run.”
Financial support measures