Japan Bank for International Cooperation (JBIC) said on Tuesday that Japanese businesses have come to realize the great cost of environmental degradation imposes on the whole society and have made every effort to preserve environment, an executive said in Jakarta.

Fumio Hoshi, executive director of the JBIC told the press before a seminar titled "PPFP for Green Growth" that today attention is turning to greenconcepts and the growing recognition that investment and innovation will create substantial business opportunities as well. "Environmentally-friendly business models using less energy and resources for example, can strengthen the competitiveness of companies and industries," said Hoshi.

JBIC provides wide ranging support for efforts to mitigate climate change as well as for green bysiness by Japanese companies. The bank has two major ongoing programs, which are Facility for Asia Cooperation and Environment (FACE) and the Leading Investment to Future Environment (LIFE).

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