BOJ Kuroda Sees Climate Change as Risk for Japan Economy

Economy Politics

Davos, Switzerland, Jan. 24 (Jiji Press)--Bank of Japan Governor Haruhiko Kuroda on Friday expressed concerns over adverse effects from climate change on the country's economy.

Risks from global warming are extremely realistic for Japan, he said at a panel discussion held as part of an annual meeting of the World Economic Forum in the Swiss resort of Davos.

Japan faces greater threats of natural disasters, Kuroda said, citing the possibility of Japan's economy having fallen into negative growth in October-December 2019 due partly to damage from a series of powerful typhoons that struck the country, Kuroda said.

According to Japanese government data released last month, the country's seasonally adjusted gross domestic product in July-September 2019 expanded 1.8 pct at an annual rate from the previous quarter in price-adjusted real terms, up for the fourth straight quarter.

Pointing to the Japanese economy's superiority in terms of energy efficiency, Kuroda said that the country needs to make further contributions to the world in reducing greenhouse gas emissions and climate change risks.

[Copyright The Jiji Press, Ltd.]

Jiji Press