Strengthening Cooperation between Japan and EU in Climate and Environmental Change Measures

Strategic Insights -

The Japan Bank for International Cooperation (JBIC) and the European Investment Bank (EIB) have signed a memorandum of understanding (MOU) to strengthen cooperation between the two policy-based public financial institutions. The agreement aims to promote collaboration in areas such as climate and environmental change measures, including carbon neutrality, infrastructure, innovation, and the Sustainable Development Goals (SDGs). This cooperation is expected to enhance the engagement of Japanese and EU companies in projects that contribute to global economic integration and balanced development. The MOU builds upon the previous agreement signed in 2018 and the launch of the Japan-EU Green Alliance in 2021, which aims to accelerate climate and environmental measures.

Key Takeaways:

  • The JBIC and EIB signed a MOU on October 22 to strengthen cooperation in climate and environmental change measures.
  • The MOU aims to enhance collaboration in areas such as carbon neutrality, infrastructure, innovation, and the SDGs.
  • The agreement is part of the Japan-EU Green Alliance, launched in 2021, to promote cooperation in energy transition and innovation.
  • The MOU builds upon the previous agreement signed in 2018 between JBIC and EIB to promote cooperation beyond the EU.
  • As Japan's policy-based financial institution, JBIC will continue to support Japanese companies and contribute to the development of economic relations between Japan and the EU.

Statistics:

  • The Japan Bank for International Cooperation (JBIC) signed a memorandum of understanding (MOU) with the European Investment Bank (EIB) on October 22.
  • The MOU aims to promote collaboration in areas such as climate and environmental change measures, including carbon neutrality, infrastructure, innovation, and the Sustainable Development Goals (SDGs).
  • The European Investment Bank (EIB) is the financing arm of the EU providing long-term financing and expertise for projects globally.
  • The Japan-EU Summit held in May 2021 marked the launch of the Japan-EU Green Alliance to promote cooperation in various fields.

Sources:

  • "Japan, EU to strengthen green bond market cooperation" by Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. (Syndigate.info), October 22.