JAPAN Green Finance State of the Market - 2020

Climate Bonds continues its collaboration with Japan’s Green Bond Issuance Promotion Platform(link is external), with the release of the third edition of the Japan Green Finance State of the Market report.  The report provides an in-depth overview of the Japanese green bond market and the broader labelled universe, while highlighting opportunities to boost green finance with unlabelled climate-aligned bonds and new policy developments.

The report has been developed with the support of the Institute for Global Environmental Strategies (IGES(link is external)).

Market Highlights

• Japan ranks 9th in cumulative global country rankings (USD26.15bn) and 7th in 2020 (USD10.6bn)
• Japan Housing Finance Agency is the top 2020 issuer (USD1.8bn)
• Green bond market growth expected from public transport projects and land use
• Japan’s unlabelled climate-aligned outstanding debt amounts to USD13.3bn
• The overall Japanese labelled bond universe amounts to USD64.8bn, with substantial growth experienced from the Social & Sustainability bond universe.