Norinchukin Bank invests ¥150 billion in World Bank bonds to support sustainable development projects

TOKYO, June 1 – The Norinchukin Bank, a national-level financial institution for agricultural, forestry and fisheries cooperatives in Japan, announced that it has invested $1.4 billion (¥150 billion) in World Bank bonds to support financing of sustainable development projects in developing countries.

Sustainable Development Bonds issued by the World Bank for Norinchukin will finance projects that are designed to help achieve four of the United Nations’ 17 Sustainable Development Goals (SDGs), including “zero hunger,” the goals that the Norinchukin Bank considers important.

It is the first time for the World Bank to launch bonds solely for an institutional investor in Japan.

The other goals chosen to be addressed are “climate change,” “conserve the oceans” and “protect terrestrial ecosystems,” the areas deeply related to agriculture, forestry and fisheries.

Specifically, the invested funds will be used in such projects as expansion of arable land to end hunger and disease control. Norinchukin will keep track of the progress of the projects to aim at making more tangible contributions.

Norinchukin has been focusing on contributing to achieve SDGs with an eye on realizing sustainable agriculture, forestry and fisheries. Since September, it has also invested a total of $1.15 billion (¥120 billion) in World Bank bonds supporting combating of food loss and waste.

Such moves also lead to diversifying overseas investments. “We will continue working to make investments that help solve a variety of environmental and social problems,” a Norinchukin official said.

This entry was posted in Cooperatives, Food & Agriculture. Bookmark the permalink.