Japan – Green finance state of the market 2018

This report by the Climate Bonds Initiative analyzes the state of the green finance market in Japan as of 2018. It details the growth of green bond issuance, the dominant role of financial institutions and large corporations, the sectors receiving funding, and the regulatory framework provided by the Japanese government to encourage sustainable investment.

• Japan's green bond market showed significant growth in 2018, with issuance reaching 4.1 billion USD, a 22% increase over 2017. This 2018 volume represents 42% of the total cumulative issuance of 9.7 billion USD, placing Japan 12th globally for 2018 and 10th in cumulative rankings.
• Funding is primarily directed toward buildings (over one-third), energy (31%), and transport (22%). The report notes a preference for short-term bonds, with 70% of issued bonds having a maturity of five years or less, which is significantly higher than the global average of 37%.
• There is significant untapped potential for green bonds in the public sector and manufacturing. While the public sector has been hesitant—with only Tokyo and the Japan Railway Construction, Transport and Technology Agency (JRTT) participating—the report suggests that municipal bonds and state-owned enterprises like the Japan Bank for International Cooperation (JBIC) could significantly expand the market.

APA

モニカ・フィコバ, クリスタ・ツキアイネン, & アマンダ・ジョルジ (2019). Japan – Green finance state of the market 2018. Climate Bonds Initiative. https://www.climatebonds.net/files/documents/publications/4fcd69a0-09db-4a6c-83d4-c3fc391da460.pdf

Chicago

モニカ・フィコバ, クリスタ・ツキアイネン, and アマンダ・ジョルジ. Japan – Green finance state of the market 2018. Climate Bonds Initiative, 2019. https://www.climatebonds.net/files/documents/publications/4fcd69a0-09db-4a6c-83d4-c3fc391da460.pdf.

Wikipedia

{{cite report |last1=モニカ・フィコバ |last2=クリスタ・ツキアイネン |last3=アマンダ・ジョルジ |title=Japan – Green finance state of the market 2018 |publisher=Climate Bonds Initiative |date=February 2019 |url=https://www.climatebonds.net/files/documents/publications/4fcd69a0-09db-4a6c-83d4-c3fc391da460.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{2019japan, author = {モニカ・フィコバ and クリスタ・ツキアイネン and アマンダ・ジョルジ}, title = {{Japan – Green finance state of the market 2018}}, institution = {Climate Bonds Initiative}, year = {2019}, month = feb, url = {https://www.climatebonds.net/files/documents/publications/4fcd69a0-09db-4a6c-83d4-c3fc391da460.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }