12The increasingly severe impacts of climate change are putting our daily lives at risk. With the aim of overcoming this crisis, the world is advancing toward the common goal raised in the Paris Agreement of limiting global temperature increase to 1.5°C.With the aim of realizing “Zero Emission Tokyo” to contribute to the world’s goal of achieving net-zero carbon emissions by 2050, the Tokyo Metropolitan Government has announced “Carbon Half,” a commitment to halve greenhouse gas emissions by 2030, and has also set a further goal of reducing emissions by at least 60 percent by 2035. Working together with the people and businesses of Tokyo, we are devoting our full resources to addressing this challenge.The power of finance can help find solutions to social problems. New flows in finance open paths for society to take. In order to significantly accelerate actions for carbon neutrality, in 2017, the Tokyo Metropolitan Government became the first local government in Japan to issue green bonds. The Tokyo Green Finance Initiative (TGFI), our strategic initiative for the growth of green finance, is positioned at the core of our financial vision. Last fiscal year, the green bonds were issued in an upgraded form as Tokyo Green and Blue Bonds.Meanwhile, amid the rapid global expansion of green finance, concerns about greenwashing are also rising. The quality of sustainability strategy as a whole is in question, making it necessary to secure more transparency, such as confirming the situation of funds procured after bond issuance and better reporting.The Tokyo Metropolitan Government has prepared the Tokyo Green and Blue Bond Impact Report to show in an easy-to-understand manner the situation and environmental effects of projects that were allocated funds raised through bond issuance, and also provide a total picture of the environmental goals and individual projects.As a city standing on the front line of climate change response, along with continuing to take concrete actions for decarbonization, we will also engage in developing the sustainable finance market through the issuance of green and blue bonds.I hope this report will serve to deepen your understanding of Tokyo’s green and blue bonds.Green and Blue BondsImpact ReportStrongly promote the TMG's environmental measures backed by the support provided by residents, companies and investors through their investment in Tokyo Green and Blue Bonds.Create a virtuous cycle of the environment and the economy by accelerating the trend of utilizing market funds to find solutions to environmental challenges.Aim to realize "Zero Emission Tokyo" and other targets, through these efforts and contribute to achieving the SDGs.123Invest in Tokyo Green and Blue BondsStrongly promote TMG's environmental measuresStimulate the green finance marketRealize "Zero Emission Tokyo," etc.Achieve the SDGsThe Future that Tokyo Green and Blue Bonds aim to realize(From the Tokyo Green and Blue Bonds Series 8 Framework)KOIKE YurikoGovernor of Tokyo
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