Press Room
JBIC and JOI sign Cooperation agreement with IDEAcarbon to introduce Carbon Ratings to the Japanese market
IDEAcarbon signed today a cooperation agreement with the Japan Bank for International Cooperation (JBIC) and the Japanese Institute for Overseas Investment (JOI).
The MoU is signed with a view to introducing ratings to the Japanese carbon credit trading market. When purchasing Kyoto certified credits from emissions reductions projects, companies are exposed to a number of risks including those associated with the Kyoto mechanisms as well as traditional project finance risks.
The MoU is signed with the aim of providing third party independent and professional risk assessment of emissions reduction projects and to provide a rating of the certainty of project delivery to participants in the Japanese market.
Noting the significance of the cooperation with IDEAcarbon, Takashi Hongo, Director General and Special Advisor of the Environmental Finance Engineering Department of JBIC stated that “they are impressed by IDEAcarbon’s unique and world class skills in research and analysis in the carbon domain and are excited about the benefits that their Ratings can bring to the Japanese carbon market through this cooperation”.
With IDEAcarbon’s ratings and research supported by JBIC’s network, experience and environment guidelines in the Japanese market, the initiative paves the way to enhancing transparency and efficiency within the Japanese carbon market.
JOI will introduce IDEAcarbon’s Rating to the Japanese market through its membership network, including efforts such as holding seminars and workshops. Highlighting the importance of the role of JBIC and JOI under this Understanding, Ian Johnson, Chairman of IDEAcarbon noted that “we are happy to be working with entities of the calibre of JBIC and JOI and fully appreciate their vision of enhancing transparency in the Japanese carbon market. This Cooperation is a demonstration of the resolve of the signing parties to contribute to a disciplined growth and development of the carbon market resulting in real impact in mitigating climate change.
IDEAcarbon ratings provide a market leading analysis of project delivery risk and its analysis is based on project specific information and the wealth of experience from world leading expert personnel.
The Ratings can be on a project-by-project basis or for an entire portfolio. Based on expert evaluation and a transparent risk analysis tool, IDEAcarbon is geared to provide ratings and intelligence of the highest credibility.
About IDEAcarbon
IDEAcarbon is an independent and professional provider of ratings, research and strategic advice on carbon finance. IDEAcarbon combines policy and financial intelligence with proprietary tools for analysis to help market participants mitigate risk in the global carbon markets.
Founded by Dr. Shandi J. Modi, who is IDEAcarbon’s CEO, and chaired by Ian Johnson (formerly Vice President at the World Bank), IDEAcarbon is part of the IDEA Group. IDEAcarbon's sister company IDEAglobal provides market intelligence in all major liquid markets worldwide.
The Group has offices in London, New York and Singapore and advisors include Lord Desai of the London School of Economics, Helmut Schlesinger, formerly the President of the Deutsche Bundesbank, and Ng Kok Song, Managing Director of the Government of Singapore Investment Corporation.
About JBIC
The Japan Bank for International Cooperation has a statutory mandate to undertake lending and other operations for the promotion of Japanese exports, imports and economic activities overseas; for the stability of international financial order; and for economic and social development as well as economic stability in the developing economies, thereby contributing to the sound development of the Japanese economy as well as international economy.
About JOI
The Japan Institute for Overseas Investment collects and analyzes a wide range information from relative domestic and foreign institutions. Through the utilization and distribution of information beneficial for foreign direct investment, JOI aims to promote foreign direct investment from Japan and expand international economic exchanges.