The Japan Chapter will support local financial institutions as they work to decarbonise across all sectors of the economy and “seize transition-related opportunities”.
Japan is to become the first nation to host a country chapter of the Glasgow Financial Alliance for Net Zero (GFANZ), a coalition of financial institutions supporting the goal of net zero greenhouse gas (GHG) emissions by 2050 in line with science-based pathways.
As an extension of GFANZ’s APAC Network, the Japan Chapter will support local financial institutions as they work to decarbonise across all sectors of the economy and “seize transition-related opportunities” to accelerate changes needed to enable Japan’s domestic net-zero goal.
The launch coincides with Japan’s current presidency of the G7 industrialised democracies, and is backed by authorities including Japan’s Financial Services Agency, the Ministry of Finance, the Bank of Japan, the Ministry of Economy, Trade and Industry, and the Ministry of the Environment.
More than 20 leading Japanese financial institutions are members of the sector-specific alliances that comprise GFANZ.
“Engaging financial institutions across Asia-Pacific is key to furthering our goal to accelerate the global net-zero transition,” said Yuki Yasui, Managing Director, GFANZ APAC Network.
“Today’s launch is an important step in our ongoing efforts to build consensus and ensure GFANZ’s work in the APAC region is inclusive and applicable to all.”