The Tokyo Metropolitan Government issued a €300 million (¥53 billion) bond Tuesday to boost flood defenses and other climate-related countermeasures.
The money will be used to upgrade coastal protection facilities for the Port of Tokyo, develop sediment prevention facilities and enhance river flood resilience. The bond, which was validated by the Climate Bonds Initiative, is the world’s first certified resilience bond, according to the Tokyo government.
“This new bond label is a notable development for the market,” said Melissa Cheok, an associate director at Sustainable Fitch. The bond’s oversubscription “signals that the market is ready to allocate capital to these types of investments.”
Photograph: The Rainbow Bridge at dusk in Tokyo, Japan. Photo credit: Tomohiro Ohsumi/Pool/AP Photo
Was this article valuable?
Here are more articles you may enjoy.
Storm Austen Will Be Stronger Than Forecast Along UK Coasts 
Insurance M&A Down 27% in Q3 2026: OPTIS 
Florida AG Says His Office Investigating ‘Anti-Public Adjuster’ Endorsements in Policies 
Spanish Train Crash Kills at Least 64 People South of Madrid 
