Results of the Fifth Market Functioning Survey concerning Climate Change
On August 17, 2026, the Bank of Japan published the results of their fifth Market Functioning Survey concerning Climate Change. The survey aimed to gather insights from various market participants on the functioning of Japanese financial markets in relation to climate change and identify areas for improvement. The survey covered three themes: the pricing of climate-related risks and opportunities in financial instruments, the climate change-related ESG bond market, and the prospects and challenges of the climate change-related ESG bond market.
Additionally, new questions were added to assess market participants' readiness and challenges regarding information disclosure in accordance with the Sustainability Standards Board of Japan (SSBJ) Standards. The report also featured boxes summarizing recent trends, key points to watch, and challenges in the ESG bond market, developments in transition finance, and mandatory disclosure based on the SSBJ Standards.
The Bank of Japan hopes that the survey will contribute to active discussions and proactive initiatives among market participants in addressing climate change.
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