Japan sells world's 1st sovereign GX climate bonds: 3 things to know - Nikkei Asia
Japan sells world's 1st sovereign GX climate bonds: 3 things to know - Nikkei Asia
TOKYO -- Japan on Wednesday auctioned the world's first sovereign climate transition bonds -- a financing tool aimed at helping the nation's industry decarbonize and grow at the same time.
The government is hoping that through the issuance of so-called GX bonds it can secure funding for emerging technologies that could help cut emissions in the long term, such as batteries and cutting-edge chips.
Related Knowledge Center: Climate diplomacy
Talks are well underway in preparation for the next major international meeting on climate change, 28th Conference of the Parties (COP28), scheduled to begin Nov. 30 in the United Arab Emirates.
Much like last year’s COP27, finances — specifically, aid to developing nations — will be at the center of conference deliberations.
The conference faces an even greater sense of urgency brought on by the Sept. 8, 2023, release of the first global stocktake, which calls for accelerated action to meet the goals set in the 2015 Paris Climate Agreement (COP21).
Climate diplomacy: COP 27 | Climate diplomacy: COP 28 | Climate diplomacy: COP 29