Japan Credit Rating Agency gains Approved Verifier status for Climate Bonds Certification
Further sign of green momentum in Japanese market
London/Tokyo: 04/09/2019 13:00 BST: Climate Bonds Initiative welcomes the Japan Credit Rating Agency (JCR) to the global directory of Climate Bonds Approved Verifiers.
JCR is a leading credit rating agency and an expert of credit risk analysis in the Japanese financial market.
In a Statement released overnight JCR advises: We would like to further support our clients’ sustainability contributions to disseminate their information to domestic and worldwide market players through providing Verification services to get CBI Certification.
In a sign of the growing importance of sustainability and environmental services in the Japanese market JCR has announced business cooperation agreement with E&E Solutions, Japanese environmental consulting firms and DNV GL, another Climate Bonds Approved Verifier to provide a range of sustainable finance evaluation services.
JCR also participates in updating and developing international principles and analytic tools via the ICMA Social Bonds Working Group and Positive Impact Finance Initiative working Group in United Nations Environmental Plan Financial Initiative.
As at 30th June 2019, Japan was ninth in cumulative global green bond issuance at USD12.4bn and second in the Asia-Pacific region behind China.
Sean Kidney, CEO Climate Bonds Initiative:
“Congratulations to Japan Credit Rating Agency on gaining Approved Verifier status. Japan is building momentum of green finance with strong support from the government and market developers. JCR is demonstrating its confidence in the growth prospects of the domestic and global green finance markets.”
Contact:
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Head of Communications and Media, Climate Bonds Initiative, London +44 (0) 7914 159 838 |
Communications and Media Officer Climate Bonds Initiative, London +44 (0)7593 320 198 |
Notes for Journalists:
About Japan Credit Rating Agency: The Japan Credit Rating Agency (JCR) was founded in 1985, Japan Credit Rating Agency, Ltd. (JCR) is one of the major credit rating agencies in Japan. It is the only Japanese credit rating agency registered in the United States and is a certified CRA in EU. In terms of sustainable finance market, JCR provides an independent evaluation (Rating/Scoring) and verification with its long experience in Japanese debt capital market, together with the Japanese environmental engineering firm, E&E Solutions. More information is available here.
About the Climate Bonds Initiative: The Climate Bonds Initiative is an investor-focused not-for-profit, promoting large-scale investment in low-carbon economy. More information on our website here.
About the Climate Bonds Standard: The Standard is an overarching science-based multi-sector standard that allows investors and intermediaries to easily assess the climate credentials and environmental integrity of bonds claiming to be green and funding the low carbon future.
About Verification: Verification is an analysis-based process carried out by the Climate Bonds Standards Board approved independent organisation to assure the issuance of a climate bond, the nature of the associated low carbon projects or activities and the associated financial accounting systems are in conformance with the Climate Bonds Standard and can gain Certification.