(Bloomberg) -- Japan may issue a new type of government bond to finance the country’s decarbonization over the next 30 years.

Prime Minister Fumio Kishida said Thursday he’s considering creating a “green economy transformation bond” that would help fund the 20 trillion yen ($157 billion) officials say is needed for decarbonization, according to a government statement. 

Japan is aiming to cut carbon emissions 46% by 2030 from 2013 levels, and has pledged to be carbon neutral by 2050. Kishida’s comments come after Environment Minister Tsuyoshi Yamaguchi said in January a new form of sovereign debt may be one way to invest in innovative technologies that would help Japan achieve climate goals.

Many nations are still ironing out details on how they will achieve and finance climate change goals. As of January, Japan and the U.S. are the only two countries in the Group of Seven that haven’t sold, or plan to offer, sovereign green bonds. Energy transition-linked corporate debt has faced scrutiny in Europe after oil companies there opted to sell green bonds, fueling skepticism among certain investors and potentially devaluing the market. 

Related story: Japan Needs More Than Carbon Tax, Green Fund to Achieve Net Zero

A panel at the trade ministry calculated earlier that Japan will need to invest 150 trillion yen in the next decade to achieve net neutrality by 2050. That figure includes corporate and government investment.

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