NGK to Invests in Green Investment Fund for Carbon Neutrality Project Established by the Ministry of the Environment
October 28, 2022
NGK INSULATORS, LTD. (hereinafter “NGK”) hereby announces that NGK has invested in Japan Green Investment Corp. for Carbon Neutrality (JICN), a public-private fund newly established by the Ministry of the Environment.
JICN is a limited company operating a fund capitalized by fiscal investment and finance from the Japanese government and investments from the private sector. It supplies risk money to projects which contribute to carbon neutrality and advances the creation of opportunities to divert large sums of private ESG funds to investment in carbon neutrality. The amount of investment from the government into this fund is projected to be a maximum total of 20 billion yen in fiscal 2022 and 40 billion yen in fiscal 2023.
The NGK Group has positioned carbon neutrality as one of several social issues that must be addressed in the NGK Group Vision: Road to 2050, its med- to long-term vision, and promotes the development of new businesses in related fields. NGK agreed with the concept of partnering with private financial institutions and private companies in a wide range of industries and business types that enthusiastically work toward carbon neutrality in terms of all-Japan system to achieve its goal and decided to make the investment. Through the investment, NGK will collaborate with companies operating carbon neutrality projects that are the targets of the investment and other parties investing in the fund and aim to accelerate the realization of carbon neutrality.
Outline of Japan Green Investment Corp. for Carbon Neutrality
|Company Name||Japan Green Investment Corp. for Carbon Neutrality (JICN)|
|Address||Toranomon Building 9F, Toranomon 1-1-12, Minato-ku, Tokyo|
|Establishment||October 28, 2022|
|Representative||President and CEO Yoshihiko Tayoshi|
|Business activities||Conducts investment and finance for effective projects that help to realize a carbon neutral society|