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Bank of Japan Governor calls for 'learning by doing' approach on climate change

Reuters reports that Bank of Japan Governor Haruhiko Kuroda said the central bank will roll out steps deemed important for dealing with climate change, and stand ready to modify them as needed.

Kuroda said the BOJ must assist private-sector efforts to combat climate change as increasing natural disasters and a transition towards a carbon-free society could affect economic, price and financial developments in the long run.

Uncertainty over what is considered "green" and debate over how best to deal with climate change should not discourage central banks from acting now rather than later, he said.

The BOJ edged closer to uncharted territory earlier this month by laying out details of a new scheme aimed at funding activities for combating climate change. read more

The central bank also released a list of other steps it will take on climate change, including a plan to start buying green bonds using its small pool of foreign reserves.

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