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Naoyuki Yoshino, professor emeritus at Keio University and former dean of the Asian Development Bank Institute:

The public-private partnership model which is popular in infrastructure investment is not successful in many countries because there exists a conflict. Users prefer low fees, but investors want a high rate of return. For this, it is recommended to share the spillover tax revenue to increase the rate of return on infrastructure investment so that the active participation of the private sector can be encouraged. Currently, the standards of green bonds vary greatly in many ESG (environmental, social and governance) rating agencies. In better promoting the green and low-carbon development, I suggest that a unified standard for green bond ratings needs to be established globally.

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