Development Bank of Japan Inc. (DBJ) today became a signatory to the Poseidon Principles.
The Principles are a voluntary initiative established by European and U.S. financial institutions to promote achievement of climate change targets in the maritime industry, for which the International Maritime Organization1 set medium- and long-term targets for greenhouse gas emissions reductions. Signatory financial institutions calculate and disclose the contribution of their overall ship finance to emissions reductions each year on the basis of these targets.
Based on the Principles, DBJ, too, will disclose the yearly contribution of its ship finance to the reduction of greenhouse gas emissions.
DBJ is also promoting the GRIT Strategy,2 part of its Fifth Medium-Term Management Plan, as a means of contributing to a sustainable society through investment and finance. Our participation in the Principles is linked to the GRIT Strategy, and we shall be active in promoting both.
DBJ's corporate philosophy is to "apply financial expertise to design the future: to open up new frontiers as we resolve the issues of our clients and the community while promoting sustainable development for Japan and the world." In keeping with these principles, we actively support our clients' efforts to build a more sustainable society.
Notes:
1.The International Maritime Organization is a specialized agency of the United Nations that promotes international cooperation on maritime issues, including ship safety and the prevention of marine pollution by ships.
2.The "GRIT Strategy" refers to the following: G: Realization of a green society; R: Construction of a flexible, strong, safe and secure regional, social and industrial infrastructure; I: Initiatives for innovation that can be evaluated as feasible for commercialization; and T: Strategic initiatives for transition based on current business fundamentals. These are the areas on which the DBJ Group will focus under the Fifth Medium-Term Management Plan.
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