Public-Private Dialogue on Unlocking the Potentials of Private Finance

for Low-Carbon Transition

Ministry of Foreign Affairs (MOFA)

The views expressed in this presentation are the views of the author and do not necessarily reflect the views or policies of the Asian Development Bank
Institute (ADBI), the Asian Development Bank (ADB), its Board of Directors, or the governments they represent. ADBI does not guarantee the accuracy of
the data included in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with
ADB official terms.
Points of Special Report Global Warming of 1.5 ºC

➢ Climate change has already been affecting people,

ecosystems and livelihoods around the world

➢ Limiting global warming to 1.5°C is not

impossible, but would require unprecedented
transitions in all aspects of society

➢ There are clear benefits to keeping warming to

1.5°C rather than 2°C or higher

➢ Limiting warming to 1.5°C can contribute to

achieving other world goals

Source: Global Warming of 1.5°C Presentation to the wrap-up of the

Talanoa Dialogue preparatory phase COP24, 6 December 2018
https://www.ipcc.ch/site/assets/uploads/2018/12/SR15_Talanoa_Hoesung_
6.12.18.pdf
 Climate Change Impacts in Japan
Agricultural Crops Extreme Weather Events
Record breaking heavy rainfall in wide Increasing heavy rainfall
Degraded quality of crops
area of western Japan in July 2018
e.g. rice grains and fruits

Immature grains when daily mean

temperature exceeds 27 degree in
ripening period. Heat Stroke/ （出典：気候変動監視レポート2017(気象庁)）
Record of the highest temperature;
Infectious 41.1 degree C in Kumagaya, Saitama
diseases Heaat stroke patients in summer has
been 40,000 and 50,000 since 2010
Tiger mosquitoes, 【2018年7月23日の日最高気温】
vector of dengue
Oranges’ skin and pulp are fever is expanding
separated due to high to north.
temperature and increase
rainfall after ripening
（出典：気象庁）
【2018年熱中症による
救急搬送状況】

Coral reef whitening,

damaged by the Thunderbird is （出典：消防庁）

increased seawater Ecosystems endangered due to

temperature decreasing habitats
 Climate Action under the Paris Agreement

●The Paris Agreement implementation guidelines are adopted at COP24.

● Parties have to change gears for implementation 2020 onwards.
 Virtuous cycle of environment and growth

●We must invite more and still more disruptive

Innovation including CCUS and hydrogen for the
goals of the Paris Agreement

● We must channel even more into green innovation

and realize Virtuous cycle of environment and growth.

●Climate finance, once deemed costly is now a

growth generator.
 Consistency of Finance flows

Consistency of Finance Flows

with a pathway towards low greenhouse gas emissions
and climate-resilient development ( Article 2.1c of PA)
2025~

2023
Post-2025 goal
Global
2020 Stocktake

Implementation
of Paris
Agreement
 World Trend of ESG investment

The world is entering a new ascending cycle of environment and

growth, where business opportunities bring more innovation.

Global Trends of
Green Bonds Issuance
Amount 50 times in 6 years

Source：Climate Bonds Initiative Website

Global Trends of World ESG Investment trends ESG Investment trends in Japan
ESG Investment
1.7 times 2.4 times US$
US$ US$
0.5兆 1.2T
US$ in 5 years 米ドルin ２ years
22.9T 0.5T 1.2兆
13.2T 米ドル

2012 2016 2016 2017

TCFD (Task Force on Climate-related Financial Disclosures)
A further growing number of investors and other stakeholders have
been requesting that companies disclose corporate information on
their efforts involving climate change, based on TCFD
Recommendation.
*TCFD=an organization established by the Financial Stability Board (FSB) responding to the instruction of
the G20 Finance Ministers and Central Bank Governor
 Japan’s action related to TCFD and ESG investment

・Japan has the third largest number of signatories to

TCFD in the world, following the UK and US.
56 organizations in Japan have expressed their support for
the TCFD as of February 20 .

・METI released “TCFD Guidance” on December 25, 2018.

・ MOE established “ESG Dialogue Platform” to provide a
forum for communication that links parties including
companies and investors.
・ MOE established “ ESG finance high level panel ” , where
leaders from finance and investment sector discuss to
encourage ESG finance.
 Japan G20 Presidency: Climate Sustainability Working Group (CSWG)

History

➢ Climate Sustainability Working Group (CSWG)was newly established as a sub-working

group under Sustainability Working Group in 2017
➢ Became an independent working group under Argentinian Presidency
➢ Taking into account the current situation of climate change and the momentum to take
climate actions, Japan decided to maintain the status of CSWG to provide G20 with a
place to comprehensively cover the wide range of climate change related topics

Major Topics
➢ Implementation of Nationally Determined Contribution (NDC) and designing of
Long-term Strategies under the Paris Agreement
➢ Mobilization of climate finance and its usage
➢ Adaptation and resilience building
➢ Creating ascending cycle of environment and growth
➢ Cooperation with non-state actors
 1st CSWG Meeting
Outline
Date: February 14 th-16 th
Venue: Ariyake
Feature
• Open to public discussion was arranged for several sessions
• International Organizations were actively involved
UNDP, EBRD, ADB, OECD, IEA facilitated each session
Many other IOs were invited as guest speakers
• New elements/ perspectives were added to the agenda

Sessions
① Effective Implementation of NDCs and Design of Long-Term Strategies
② Cooperating with MDBs to further enhance climate actions
③ Providing Wider Opportunities for Climate-related Investment
④ Adaptation and Resilient Infrastructure
⑤ Implementation of Adaptation Measures and Sustainable Development
⑥ The Role of Renewable Energy in Addressing Climate Change
⑦ Finding New Solution through Building Smart Cities
⑧ Enhancing Partnership with Non State Actors
 Result of 1st CSWG

In this CSWG, we
➢ Successfully achieved both deepening discussions on
traditional topics and expanding the scope of focus
➢ While G20 needs to evolve its discussion as the
situation of climate change alters, G20 countries
provided new insights and perspectives to the
discussion, for example:
- Effective utilization of traditional wisdoms
- Enhancement of climate actions in our daily lives
- Promoting cooperation with various non-state actors
➢ Fostered good momentum
 Thank you
Official Twitter HP Ministry of Foreign Affairs,
＠CCMofa_Japan Japan 「climate change」