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Japan lender turns to green bonds to meet climate finance demand

JBIC plans to work with Southeast Asia to improve grid conditions

Wind turbines and solar power panels are seen in Miyagi prefecture on March 1, 2019. (Photo by Akira Kodaka) 

TOKYO -- The Japan Bank for International Cooperation is looking to play a leading role in mobilizing private finance to support Asia's energy supply decarbonization, even as its legacy of coal financing persists in Southeast Asia.

Ahead of the COP26 climate summit, the Japanese government lender released its first-ever policy on environmental, social and governance standards last week, aiming for a carbon neutral financial portfolio by 2050 as well as net-zero emissions in its operations by 2030.

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