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Sustainable Finance in Europe and Japan: How the Low-carbon Energy Transition can be implemented at the Project Level

Research Project

Project/Area Number 19F19731
Research Category

Grant-in-Aid for JSPS Fellows

Allocation TypeSingle-year Grants
Section外国
Review Section Basic Section 64060:Environmental policy and social systems-related
Research InstitutionTokyo Institute of Technology

Principal Investigator

錦澤 滋雄  東京工業大学, 環境・社会理工学院, 准教授 (70405231)

Co-Investigator(Kenkyū-buntansha) SCHUMACHER KIM  東京工業大学, 環境・社会理工学院, 外国人特別研究員
Project Period (FY) 2019-11-08 – 2022-03-31
Project Status Completed (Fiscal Year 2021)
Budget Amount *help
¥2,300,000 (Direct Cost: ¥2,300,000)
Fiscal Year 2021: ¥100,000 (Direct Cost: ¥100,000)
Fiscal Year 2020: ¥1,100,000 (Direct Cost: ¥1,100,000)
Fiscal Year 2019: ¥1,100,000 (Direct Cost: ¥1,100,000)
KeywordsESG / Sustainable Finance / Climate Change / Environmental Assessment / EU / Japan / Green Bonds / EIA
Outline of Research at the Start

再生可能エネルギーの普及促進に資する「持続可能な金融」を対象として、欧州諸国での取り組みを参考に、わが国における実態把握と今後の展開を探る。金融セクター等を対象とした調査により、ESGデータや評価指標などを含むESG投資のためのプラットフォームを検討・構築し、それが有効に機能するための要件を明らかにする。

Outline of Annual Research Achievements

The research achievements present several highs and lows, primarily due to the project implementation and research execution coinciding entirely with both the start of the Covid-19 pandemic in early 2020 and its peak with the spread of the Omicron variant in late 2021. Nevertheless, despite the significant limitations that this created for the JSPS Kaken-hi project in question, the funding enabled the research fellow to engage with the research community in Japan and the EU, and establish solid research connections with both researchers in the finance and sustainability areas, as well as, with industry and government agency-level stakeholders. The connections not only led to several peer-reviewed publications, at times with high-level subject-level co-authors, it also facilitated joint research and engagement activities with stakeholders ranging from high school students over university students to corporate leaders.
In light of reduced opportunities to attend academic conferences and other in-person events, the fellow sought other ways in order to properly gather data from sectoral practitioners while at the same time communicating his ongoing findings to a broad set of stakeholders. Activities included joint sustainable finance and ESG-related research exchanges with the Tokyo startup community, ESG data-level research, research on green bonds and sustainability reporting. The fellow also taught courses within the context of his Kaken-hi subject to university students and business practitioners, leading to a mutually enhancing outcome and outreach.

Research Progress Status

令和3年度が最終年度であるため、記入しない。

Strategy for Future Research Activity

令和3年度が最終年度であるため、記入しない。

Report

(3 results)
  • 2021 Annual Research Report
  • 2020 Annual Research Report
  • 2019 Annual Research Report
  • Research Products

    (11 results)

All 2022 2021 2020 2019 Other

All Int'l Joint Research (1 results) Journal Article (4 results) (of which Peer Reviewed: 3 results,  Open Access: 3 results) Presentation (5 results) (of which Int'l Joint Research: 1 results) Book (1 results)

  • [Int'l Joint Research] University of Luxembourg(ルクセンブルク)

    • Related Report
      2019 Annual Research Report
  • [Journal Article] The Impact of Endogenous Firm-level Sustainability Data on ESG Scores and Ratings2022

    • Author(s)
      Schumacher, K., Baek, Y.J., and Nishikizawa, S.
    • Journal Title

      Tokyo Institute of Technology Working Paper

      Volume: -

    • Related Report
      2021 Annual Research Report
  • [Journal Article] Green Bonds: Green investments need global standards and independent scientific review2020

    • Author(s)
      Schumacher, K.
    • Journal Title

      Nature

      Volume: 584 Issue: 7822 Pages: 524-524

    • DOI

      10.1038/d41586-020-02472-5

    • Related Report
      2020 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Green Bonds: The Shape of Green Fixed Income Investing to Come2020

    • Author(s)
      Schumacher, K.
    • Journal Title

      The Journal of Environmental Investing

      Volume: 10(1) Pages: 5-29

    • DOI

      10.2139/ssrn.3663308

    • Related Report
      2020 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Sustainable Finance in Japan2020

    • Author(s)
      Schumacher, K., Chenet, H., and Volz, U.
    • Journal Title

      Journal of Sustainable Finance & Investment

      Volume: 10 (2) Issue: 2 Pages: 213-243

    • DOI

      10.1080/20430795.2020.1735219

    • NAID

      120006871863

    • Related Report
      2020 Annual Research Report 2019 Annual Research Report
    • Peer Reviewed / Open Access
  • [Presentation] From Greenwashing to Carbonwashing: A Review of Corporate Carbon Disclosure Gaps2021

    • Author(s)
      Schumacher, K.
    • Organizer
      ADBI Virtual Workshop on Effective Greenhouse Gas Emission Control Policies
    • Related Report
      2021 Annual Research Report
  • [Presentation] Sustainable Finance in Japan2021

    • Author(s)
      Schumacher, K.
    • Organizer
      96th Annual Conference of WEAI (Western Economic Association International)
    • Related Report
      2021 Annual Research Report
    • Int'l Joint Research
  • [Presentation] 日本のサステナブル金融とESG投資のさらなる拡充の必要性2020

    • Author(s)
      Schumacher, K.
    • Organizer
      日本計画行政学会第43回全国大会
    • Related Report
      2020 Annual Research Report
  • [Presentation] Discussion papers on “How does investor attention influence the green bond market?” and “Pricing of Green Labeling: A Comparison of Labeled and Unlabeled Green Bonds, Low-Carbon Finance and the Sustainable Development Goals”2020

    • Author(s)
      Schumacher, K.
    • Organizer
      Asian Development Bank Institute
    • Related Report
      2020 Annual Research Report
  • [Presentation] Sustainable Finance in Japan2019

    • Author(s)
      Schumacher, K. (lead/corresponding author), Chenet, H., and Volz, U.
    • Organizer
      Green Infrastructure Development in Asia Conference: Investment, Financing and Economic Impacts
    • Related Report
      2019 Annual Research Report
  • [Book] Settling Climate Accounts: Navigating the Road to Net Zero2021

    • Author(s)
      In, S.Y. and Schumacher, K.
    • Total Pages
      215
    • Publisher
      Palgrave Macmillan Cham
    • ISBN
      9783030836504
    • Related Report
      2021 Annual Research Report

URL: 

Published: 2019-11-29   Modified: 2024-03-26  

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