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MNI BRIEF: Lender Data Crucial For Climate Policy Reviews: BOJ

MNI (Tokyo)
TOKYO (MNI)

Financial institutions should report some data impacts from climate lending decisions.

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Several Bank of Japan board members want to see policy-related and transition finance data from financial institutions before and after lending to support climate change projects to ensure policy accountability, according to a summary released on Wednesday of opinions from the July 15-16 policy meeting. (see: MNI BRIEF: BOJ On Hold: Won't Hesitate To Take More Easing - 16 July).

The BOJ this month broadly outlined plans to support loans to financial institutions to fund climate change projects, while taking a neutral stance on technologies. (see: MNI STATE OF PLAY: Kuroda Details BOJ's Climate Lending Plans - 16 July).

"When addressing climate change from the monetary policy side, it is necessary for the BOJ to examine, without having any preconceptions, its impact on economic activity and prices by further carrying out research and study that will form the basis of policy decisions, " on board member said, echoing calls by other members of measuring policy effects and for research on how climate change will affect the macroeconomy. (see: MNI BRIEF: BOJ Board Members For Climate Scheme Flexibility - 16 July).