Japan sold its fifth climate transition bond this year, raising JPY250bn (~$1.6bn). Demand was steady: bid-cover 3.84x, below May’s 4.62x but above the 3.79x average since issuances began in Feb 2024; highest accepted yield 2.2%. This was the government’s 11th transition bond and forms part of a JPY150 tln program through 2033 to channel capital into designated emissions‑reduction projects. Despite deepening reliance on fossil fuels since the conflict began, Japan remains the only government cur

Japan sold its fifth climate transition bond this year, raising JPY250bn (~$1.6bn). Demand was steady: bid-cover 3.84x, below May’s 4.62x but above the 3.79x average since issuances began in Feb 2024; highest accepted yield 2.2%. This was the government’s 11th transition bond and forms part of a JPY150 tln program through 2033 to channel capital into designated emissions‑reduction projects. Despite deepening reliance on fossil fuels since the conflict began, Japan remains the only government currently using the climate transition bond category.