[Hokkaido and Sapporo City] Climate Bonds Initiative Announces Joint Statement on GX Promotion and Regional Revitalization
The Climate Bonds Initiative (Climate Bonds), a globally influential international NGO in the field of Green Transition (GX), has recognized Hokkaido’s immense potential for renewable energy. Climate Bonds CEO Mr. Sean Kidney expressed his support for the decarbonization initiatives led by Hokkaido and Sapporo City, leading to a joint statement by the three parties on December 16, 2024.
On stage, Mr. Kidney joined hands with Vice Governor Mitsuhashi and Mayor Akimoto, pledging future collaboration. Sapporo City, with the extensive expertise of Climate Bonds, plans to expand GX-related industries and strengthen financial functions to attract foreign investment.
Joint Statement on Promoting Green Transformation (GX)
and Regional Revitalisation in Hokkaido
by
Climate Bonds Initiative, Hokkaido Government and the City of Sapporo
16 December 2024
Today, Climate Bonds Initiative, Hokkaido government and the City of Sapporo jointly called for the acceleration of regional revitalisation in Hokkaido and Sapporo through the promotion of Green Transformation (GX) in the region. This will be achieved with government support and through collaboration to develop the GX Finance and Asset Management Special Zone in Hokkaido.
Climate Bonds acknowledges that the rapid growth of data centres using artificial intelligence (AI) applications is driving an increase in Japan’s energy demand. In response, Japan could ensure that these are in regional areas like Hokkaido, which have abundant renewable energy resources and need economic stimulus. Climate Bonds is committed to promoting the expansion of green financial initiatives in Hokkaido and Sapporo, focusing on the advancement of renewable energy and GX-related industries, and building on its expertise to support these efforts
The Hokkaido government anticipates that the growing demand for energy, particularly renewable energy, will drive the development of renewable energy-related supply chains in the region. This growth will also strengthen the presence of Green Transformation/Digital Transformation related industries, such as the semiconductor sector and data centres, which will be highly dependent on renewable energy. These present a significant opportunity for regional revitalization. By promoting GX/DX through the utilisation of the Special Zone, Hokkaido will continue to develop as a vibrant region where the environment and economy are in a virtuous cycle. It will contribute to GX efforts both in Japan and globally as a base for the supply and utilisation of renewable energy.
The City of Sapporo recognises the critical need to strengthen financial infrastructure to support the rapid growth of GX-related industries. By utilising the GX Finance and Asset Management Special Zone, Sapporo aims to foster innovation, nurture startups, and attract key financial institutions, including asset management firms. Moreover, the city is dedicated to promoting industrial growth through renewable energy and is actively working on developing and expanding GX-related industrial supply chains
Sean Kidney, CEO,Climate Bonds Initiative
Naomichi Suzuki,Governor of Hokkaido
Katsuhiro Akimoto,Mayor of Sapporo