JBIC Signs MOU with the Clean Energy Finance Corporation of Australia : Strengthening Cooperation in Hydrogen Sector and Promoting Japan-Australia Collaboration for Realizing[...]

The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed today a Memorandum of Understanding (MOU) on strategic cooperation with the Australian 'green bank,' the Clean Energy Finance Corporation (CEFC). The objective of the MOU is to promote cooperation in the sectors of hydrogen, renewable energy, and the electricity grid.

The CEFC is the Australian government's financial institution that provides financing for Australia's clean energy transition, to decarbonize the economy and to help Australia reach net zero emissions by 2050. Also, in its Fourth Medium-term Business Plan, released in June 2021, JBIC aims to respond to energy transformation, toward the realization of a decarbonized society.

The Japanese government has announced its goal of achieving carbon neutrality by 2050, while the Australian government is targeting net zero emissions by 2050. With this MOU on strategic cooperation between JBIC and the CEFC, under which the framework for collaboration between the two governments' organizations is to be developed, JBIC aims to accelerate the structuring of projects for developing the hydrogen supply chain toward realizing a decarbonized society.

As Japan's policy-based financial institution, JBIC will continue to contribute toward creating business opportunities for Japanese companies and securing a stable supply of resources for Japan through strengthened cooperation with important partners in the decarbonization sector.