Japan's top banks back zero-carbon infrastructure with new funds

Sumitomo Mitsui, Mizuho and MUFG look to ride rising global tide of investment

A wind farm in France: A $3.7 trillion in annual infrastructure spending will be needed worldwide until 2035, McKinsey & Co. estimates. © Reuters

DAICHI MISHIMA, Nikkei staff writer

January 22, 2021 06:43 JST

TOKYO -- Japan's three biggest banking groups will channel hundreds of millions of dollars of fresh capital into overseas infrastructure projects through new investment funds as countries around the world make new commitments to cutting carbon emissions.