Financial Support Programme
for Green Bond Issuance (Subsidy Project)

Subsidies will be provided for the expenses that are required by those who support companies, municipalities and other bodies who seek to issue Green Bonds, in the form of granting external reviews, consultation on establishing a Green Bond framework, etc.

Eligible Expense for Subsidies

The subsidized expenses are external costs that are deemed to additionally incur when issuing Green Bonds

Fund recipients and costs eligible for the subsidies
Fund recipients Subsidies
External review entity Costs required for external review
(before issuance/after issuance/during)
Consulting firm Costs required for consultation regarding the Green Bond framework
  • Costs related to structuring are not eligible for subsidies.

Perspective Regarding Upper Limit of Subsidies

  • Calculated based on the actual cost of support for a Green Bond issuance (in the case of support over a number of years, or in the case of several supporters of the issuance, the total amount thereof)
  • The upper limit will be the lower of the actual cost multipled by subsidy rate of 90% and JPY 40 million. (Please note that upper limit by calculating method of previous fiscal year is applicable for support continuing from previous year.)
  • Within the range of subsidies applied for with the issuance support plan (in the case of multiple supporters, adjust the amount and list separately)
  • The upper limit of subsidies for actual expenses is scheduled to gradually decrease each fiscal year.

Points to Keep in Mind

  • Ultimately, if the Green Bonds are not issued within three years after eligibility has been granted or if the Green Bonds are issued that do not meet the criteria, the subsidy will be subject to a refund.