Japan Sells Fifth Climate Transition Bond Despite Fossil Fuel Reliance

• Japan sold its fifth climate transition bond of the year.
• Japan remains the only government using the climate transition bond designation.
• The country's reliance on fossil fuels has increased since the start of the war in Iran.
• Japanese government bonds have rallied alongside other safe-haven assets due to technology-sector jitters.
• The issuance of transition bonds continues despite the shift towards fossil fuels.