Domestic Policy Related to Green Bonds
Green Bond Guidelines, 2017
These guidelines are aimed at ensuring consistency with the globally accepted Green Bond Principles in the Green Bond market, to serve as a reference for issuers, investors and other market pariticipants engaged in practical application when they are uncertain of their judgment concerning the Green Bond issuance. Formulated in March 2017 by the Ministry of the Environment, the guidelines provide illustrative examples of specific approaches and the interpretations tailored to Japan’s bond market, and the guidelines aim at ensuring the reliability of the effects of the Green Bonds on the improvement of the environment while reducing the costs and the clerical load of issuers for the spread of Green Bonds in Japan.
Pilot Project for Green Bond Issuance
A funded project by the Ministry of the Environment to disseminate information in Japan on Green Bond issuance cases that comply with the Green Bond Guidelines of 2017 and are considered model-appropriate. Model cases that selected from among the applicants will have their information disseminated to that effect, if it is confirmed by the Ministry of the Environment and the contractor that they have complied with the “expected elements” specified in the Green Bond Guidelines and they are in conformancePilot Project for Green Bond Issuance
Financial Support Programme for Green Bond Issuance
A programme by which the Ministry of the Environment provides subsidies for expenses required by those who support companies, municipalities, and other bodies that work to issue Green Bonds, in the form of the issuance support (granting external reviews, consultation on establishing a Green Bond framework, etc.)Financial Support Programme for Green Bond Issuance
Platform for Promoting Green Bond Issuance
The website which is managed and is operated by the Ministry of the Environment to collect and disseminate information related to Green Bonds. Specifically, the site registers and lists those that support Green Bond issuance, analyzes domestic and global trends and disseminates such information, and shares information on issuance cases.
Platform for Green Bonds and Social Bonds
The Tokyo Stock Exchange launched a platform on January 22, 2018 on which information pertaining to Green and Social bonds from among those listed on TOKYO PRO-BOND Market, a bond market for professional investors can be posted on a voluntary basis. For each bond, the issuers post information such as the use of proceeds, external reviews, reporting (status of the use of proceeds and funds allocation), etc. to make information available to investors that are interested in responsible investment that incorporate Environment, Social, and Governance (ESG).Platform for Green Bonds and Social Bonds