2024 GFANZ Japan Chapter Statement

Year Published

2024

Contributing Organizations

Glasgow Financial Alliance for Net Zero (GFANZ)

Type of Resource

Other

Research/Insights Report

Languages

English

Relevant Topics

Core Topic

Climate Strategy & Capabilities

Target Audience

Governments & Policymakers

All

Financial Services Providers

Relevant Geography

Asia & the Pacific

Global

Resource Description

This resource outlines the 2024 Statement of the GFANZ Japan Chapter, supported by seventeen Japanese financial institutions. It reaffirms net-zero commitments and calls for scaling transition finance, particularly for high-emitting sectors with credible transition plans.

Why This Matters

With around 80% of Japan’s emissions from high-emitting sectors, aligning finance to credible transition strategies is critical. The statement reflects Japan’s role in advancing orderly, inclusive net-zero transitions domestically and regionally.

Key Insights

Emphasizes financing high-emitting sectors to enable decarbonization, rather than divestment
Supports four GFANZ transition finance strategies, including managed phaseout of high-emitting assets
Encourages development and disclosure of credible transition plans, using the GFANZ framework
Highlights Japan’s contributions to transition finance in emerging markets, including JETPs and managed phaseout
Calls for government collaboration to establish sectoral transition roadmaps and enabling policies

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