The Bank of Japan published a climate change disclosure structured around the Task Force on Climate-related Financial Disclosures recommendations, summarizing how it governs climate work and how climate considerations are reflected in monetary policy, financial system oversight, research, international finance, and its own operations. The document sets out the Bank's approach under its 2021 climate strategy and links that work to its mandates of price stability and financial system stability. Implementation is coordinated through the Climate Coordination Hub, an internal network spanning key policy and supervisory departments. In monetary policy, the Bank's Funds-Supplying Operations to Support Financing for Climate Change Responses had been conducted nine times from December 2021 to January 2026, with 91 eligible counterparties and about JPY 21.1 trillion in loans outstanding. Counterparties must provide a certain level of disclosure, including based on the TCFD framework or Sustainability Disclosure Standards issued by the Sustainability Standards Board of Japan, while retaining responsibility for selecting the underlying climate-related lending and investment under disclosed criteria. For the financial system, the Bank highlighted on-site and off-site discussions with institutions on climate risk management and customer decarbonization, and its June 2025 joint banking sector scenario analysis with the Financial Services Agency. For its own operations, the Bank said it discloses Scope 1, Scope 2, and air business travel Scope 3 emissions each fiscal year and is working toward the Japanese government's non-binding target of reducing energy consumption intensity by an average of at least 1 percent a year over the medium to long term. It plans to continue offering climate response financing loans biannually in principle, accept additional counterparties, allow rollovers through the end of fiscal 2030, and update its TCFD-based disclosure annually.
Bank of Japan2026-05-27
Bank of Japan publishes TCFD-based climate disclosure detailing governance framework and JPY 21.1 trillion in climate financing operations
The Bank of Japan published a climate change disclosure aligned with the Task Force on Climate-related Financial Disclosures, outlining how climate considerations are integrated into monetary policy, financial system oversight, research, international finance and its own operations. It reports that climate response funds-supplying operations have been conducted nine times with 91 counterparties and JPY 21.1 trillion in loans outstanding, and that counterparties must meet specified disclosure standards. The Bank also discloses its own emissions, targets energy efficiency improvements, plans to continue climate response financing loans through fiscal 2030, and will update its TCFD-based disclosure annually.