Japan’s government and big banks are launching a “green transformation” program to attract some USD 1 tn in investments over the next decade, Reuters reports, citing Japanese finance newspaper Nikkei Shimbun. The program will mainly be based in the city of Sapporo, which Japan has announced will become a designated special zone for attracting renewable energy investment by next year. Japan’s largest bank, the Mitsubishi UFJ Financial Group, will be participating, as will the country’s Economy, Trade, and Industry Ministry and the Environment Ministry. No details on the other contributing stakeholders, program timeline, or type of green projects of interest were given.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • Australian mining company Fortescue is building a new battery and powertrain plant in the UK, set to be operational by next year. The new plant will focus on manufacturing heavy industry and electric powertrains systems. (Reuters)
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