Development of JBIC Green Bond Framework
Contributing toward a Sustainable Environment and Society through Green Finance
October 29, 2021
The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) has developed the JBIC Green Bond Framework (the Framework).
In the Framework, JBIC summarizes its policy pertaining to, among other matters, the four core components defined in the Green Bond Principles 2021 published by the International Capital Market Association (ICMA), which are: (1) Use of Proceeds, (2) Process for Project Evaluation and Selection, (3) Management of Proceeds, and (4) Reporting.
The Framework was acknowledged as being aligned with the Green Bond Principles 2021 in the second-party opinion*1 obtained on October 28, 2021 from Sustainalytics Japan Inc. (Sustainalytics), a third-party evaluation organization.
In its Fourth Medium-term Business Plan*2 launched in June 2021, JBIC positioned "address global issues toward realizing sustainable development for the global economy and society" as a key focus area. To address such issues, JBIC aims to contribute toward forming a new ecosystem, with a view towards reducing greenhouse gases worldwide and realizing the decarbonization of Japan, through green finance.
Based on the Framework, JBIC will issue Green Bonds to raise the necessary funds for green finance.
As Japan's policy-based financial institution, JBIC will continue to provide financial support to assist climate issue initiatives by drawing on its various financial facilities and schemes.
Second-party opinions on green bond frameworks present the evaluation of the frameworks by third-party evaluation organizations that are independent from the issuer of the bonds.