The Institute for Global Environmental Strategies (IGES) and the Climate Bonds Initiative (CBI) has published the 'Japan Green Finance State of the Market - 2021' (JapanesePDF, EnglishPDF). The following is a summary of the report.

Cumulative green bond issuance in Japan is USD37.3bn (JPY4.39 tn), 11th in global country rankings. Green bond issuance in 2021 amounted to USD11.40bn, 5th in 2021 country rankings. In addition to green bonds, Japan's social and sustainability themed market is showing general trends in growth, with expectations for further increase in the issuance of sustainability-linked bonds especially high.
The Financial Services Agency (FSA), the Ministry of Economy, Trade and Industry (METI), the Ministry of the Environment (MOE), and the Bank of Japan (BOJ) have also introduced a number of green finance policies. The report provides an overview of such policies introduced between January 2021 and August 2022.