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Climate Change

The Bank's Strategy on Climate Change

Monetary Policy

Table : Monetary Policy
Date Title
Jul. 21, 2021 (Reference) Fund-Provisioning Measure to Support Efforts on Climate Change (Preliminary Outline) (decided at the Monetary Policy Meeting held on July 15 and 16, 2021) [PDF 63KB]
Jul. 16, 2021 Statement on Monetary Policy [PDF 238KB]

Financial System

Table : Financial System
Date Title
Apr. 20, 2021 Financial System Report (April 2021) 
Mar. 30, 2021 On-Site Examination Policy for Fiscal 2021 [PDF 663KB]
Dec. 24, 2020 International Research Workshop on Climate-related Financial Risks: Interactions of Climate Change and the Financial System (Program posted on February 26, 2021) 

International Finance

NGFS (Network for Greening the Financial System)

Table : NGFS (Network for Greening the Financial System)
Date Title
Jun. 7, 2021 NGFS publishes the second vintage of climate scenarios for forward looking climate risks assessment (Link to an external website)
Mar. 24, 2021 "Adapting central bank operations to a hotter world: Reviewing some options" [PDF] (Link to an external website)
Jun. 24, 2021 NGFS publishes a first set of climate scenarios for forward looking climate risks assessment alongside a user guide, and an inquiry into the potential impact of climate change on monetary policy (Link to an external website)
Nov. 28, 2019 Bank of Japan Joins the NGFS

EMEAP (Executives' Meeting of East Asia and Pacific Central Banks)

Table : EMEAP (Executives' Meeting of East Asia and Pacific Central Banks)
Date Title
Jul. 12, 2021 EMEAP Central Banks Agreed to Promote Green Bond Investment through Asian Bond Fund [PDF] (Link to an external website)

Basel Committee

Table : Basel Committee
Date Title
Apr. 14, 2021 Basel Committee publishes analytical reports on climate-related financial risks (Link to an external website)
Apr. 30, 2020 Basel Committee publishes stocktake report on climate-related financial risk initiatives (Link to an external website)

Financial Stability Board

Table : Financial Stability Board
Date Title
Jul. 7, 2021 FSB roadmap for addressing climate-related financial risks (Link to an external website)
Jul. 7, 2021 The availability of data with which to monitor and assess climate-related risks to financial stability (Link to an external website)
Jul. 7, 2021 Report on promoting climate-related disclosures (Link to an external website)
Dec. 22, 2020 FSB encourages the IFRS Foundation and authorities to use TCFD's recommendations as the basis for climate-related financial risk disclosures [PDF] (Link to an external website)
Nov. 23, 2020 FSB examines financial stability implications of climate change [PDF] (Link to an external website)
Jul. 22, 2021 FSB stocktake considers climate risks and financial stability [PDF] (Link to an external website)

Research Papers and Reports

Table : Research Papers and Reports
Date Title
Jul. 20, 2021 Quantitative Analysis of the Impact of Floods on Firms' Financial Conditions 
Dec. 24, 2020 How Does Climate Change Interact with the Financial System? A Survey 

Speeches and Statements

Table : Speeches and Statements
Date Speaker Title
Jul. 27, 2021 KURODA Haruhiko, Governor The Bank of Japan's Strategy on Climate Change (Speech at the Japan National Press Club) (via webcast) 
Jul. 21, 2021 AMAMIYA Masayoshi, Deputy Governor "Japan's Economy and Monetary Policy" (Speech at a Meeting with Local Leaders in Niigata) (via webcast) 
Mar. 25, 2021 KURODA Haruhiko, Governor "Addressing Climate-related Financial Risks -- From a Central Bank's Perspective --" (Opening Remarks at the International Research Workshop on Climate-related Financial Risks) 
Nov. 28, 2019 Haruhiko Kuroda, Governor "International Financial Regulation and Supervision:Past Achievements, Current Issues, and Future Agendas" (Remarks at the Paris EUROPLACE Financial Forum in Tokyo) 
Mar. 15, 2019 Haruhiko Kuroda, Governor "Toward Inclusive and Sustainable Development" (Remarks at the B20 Tokyo Summit hosted by Nippon Keidanren (Japan Business Federation))