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Finance

Development Bank of Japan to boost ESG funding up to 80% to $50bn

Exclusive: Environment, social and governance to drive 40% of state lender's five-year plan

A hydrogen energy project in Japan's Fukushima Prefecture. (Photo by Keisuke Kurotaki)

TOKYO -- The government-backed Development Bank of Japan plans to increase funding based on environmental, social and corporate governance factors to 5.5 trillion yen ($50.4 billion) over the next five years, Nikkei has learned, aligning with Tokyo's goal of achieving net-zero greenhouse gas emissions by 2050.

The lender, which will announce its next medium-term plan Thursday, intends to commit roughly 40% of its total 13 trillion yen investment and lending to ESG pursuits over the five years to fiscal 2025. This round of ESG investment and financing will mark an increase of 50% to 80% from previous levels.

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