Japan’s finance ministry to use foreign reserves for ESG investments By Reuters – Investing.com
- Date: 08-Oct-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Japan’s finance ministry to use foreign reserves for ESG investments By Reuters – Investing.com
TOKYO (Reuters) - Japan's finance ministry will start using foreign reserves to buy securities that meet environmental, social and governance (ESG) criteria, it said on Friday, joining a global tide of investors focusing on such issues.
Japan's $1.4 trillion in foreign reserves are predominantly held by the Ministry of Finance (MOF) and are believed to comprise mainly U.S. dollars due to past interventions in foreign currency markets to weaken the yen.
For years, the MOF has been trying to diversify the make-up of the world's second-largest reserves after China's.
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