Carbon Neutrality Initiative 2023 (Full) [715 KB]
The Japanese Bankers Association (Chairman: HANZAWA Junichi, President & CEO of MUFG Bank) is pleased to announce that it has set out the “Carbon Neutrality Initiative 2023” (hereinafter referred to as the JBA 2023 Initiative).
The JBA 2023 Initiative was compiled following a thorough review of previous activities that were based on our Carbon Neutrality Initiative of December 2021.
Last year, multiple risk factors, including heightened geopolitical risks on a global scale, resulted in increased inflationary pressure on resources, food, and other commodities. Japan depends on foreign countries for most of its natural resources, and soaring energy prices have had a major impact on businesses and households. The environment for achieving the Green Transformation (GX) of Japan’s entire social economy has changed dramatically.
In addition, at the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27) in November 2022, the "Sharm el-Sheikh Implementation Plan" was agreed upon, making it clear that the focus was shifting from pledges and commitments toward decarbonisation to the implementation of concrete efforts.
In Japan, the "Basic Policy for the Realisation of GX" was compiled by the GX Implementation Council in December 2022. This policy outlines the measures to be taken over the next 10 years to transform Japan's industrial and social structures and realise a society in which all people, including future generations, can live with hope.
The JBA will continue to contribute to the realisation of carbon neutrality and net zero emissions in Japan through the continuous implementation of this Initiative in cooperation and collaboration with various stakeholders, including clients, relevant ministries and agencies, and relevant industrial organisations.
Appendix 1: Carbon Neutrality Initiative 2023 (Full)
Appendix 2: Carbon Neutrality Initiative 2023 (Overview)
