TOKYO (Reuters). Japan’s finance ministry announced on Friday that it will begin using its foreign reserves for securities that are compliant with the environmental, governance, and governance (ESG) criteria. It joins a growing global wave of investors who focus on such issues.

Japan’s foreign reserves of $1.4 trillion are primarily held by the Ministry of Finance. They are thought to be primarily U.S. Dollars due to previous interventions on foreign currency markets in order to weaken the Japanese yen.

The MOF tried to diversify for years the second largest reserves in the world after China’s.

A MOF official stated that the latest plan would be implemented as soon as possible. This will make Japan the first nation in the Group of Seven (G7) to utilize foreign reserves for ESG investment.

“While adhering the fundamental principle of ensuring safety liquidity and profitability,” said the MOF in a statement. They also stated they would consider investment taking into account environmental, social, and governance issues.

This is because some central banks use their institution weight to combat global warming.

Bank of Japan stated in July that they would begin purchasing green bonds from their foreign reserves, in an effort to increase global investment in activities related to combating climate change.

Management of foreign reserves is a MOF special account. The MOF often makes profits by managing these reserves. These reserves can then be used to fund supplementary budgets.