Yutaka Kikuchi joined MOE in 2019. < continued in Part 2: https://investmentjapan.jp/esg/1261/ >, Deputy director Setting big goals is important and tends to get a lot of attention. Deputy director In Japan, ESG investments are gaining stream. Based on that success, MOE doubled down on bringing impact investment to other asset classes. The Minister of the Environment (環境大臣, Kankyō Daijin) is the member of the Cabinet of … For example, METI and FSA join MOE’s Positive Impact Finance Task Force as observers. Media in category "Ministry of the Environment (Japan)" The following 15 files are in this category, out of 15 total. Aya Nagata joined MOE in 2005. Ministry of Environment of Japan - Represented by the Institute for Global Environmental Strategies (IGES) IJ asked MOE’s Aya Nagata and Yutaka Kikuchi, Deputy Directors for Environment Finance, Environment and Economy, how MOE works to advance ESG investment. Finally, do you have any messages for foreign asset managers? Unfortunately, our website is currently unavailable in most European countries. With respect to TCFD, we plan to provide scenario analysis support to financial institutions regarding the impact of climate change risk on their portfolios. Yutaka Kikuchi joined MOE in 2019. The following 17 files are in this category, out of 17 total. Consequently, there is some debate whether social impact is a viable metric versus risk and return. It’s crucial for regional financial institutions, who actually work with local companies, to implement impact finance. “Impact finance” is a big part of ESG in the U.S., i.e. One of our efforts is a newly created website called “Green Finance Portal” (. She has been serving as deputy Director of the Environment and Economy Division, MOE since July 2017 to August 2020. The Concept of Impact Finance was designed to help market participants understand the idea and spur them to implement it. MOE has endeavored for some time to build a decarbonized society, a sound material-cycle society, society in harmony with nature, but we’ve always been aware of the huge financing gap between where we are and where we wish to be. In conjunction with this project, MOE conducted the first nationwide survey of financial institutions regarding their ESG initiatives. The second of our major measures is "implementing ESG regional finance to support solutions to regional issues", and we are developing projects to stimulate that. All rights reserved. Promoting the impact finance is a major part of the first measure. Information on the Great East Japan Earthquake from Ministry of Health, Labour and Welfare; Information on the Great East Japan Earthquake from Prime Minister of Japan and His Cabinet (Link to Prime Minister of Japan and His Cabinet) Examples of Leading Activities of Private Companies in the Fields of Health, Labour, and Welfare. Although MOE had involved itself in environmental finance before, the Environmental Finance Section was specifically set up to show the ministry’s will to engage in this mission over the long term. Describe the second measure and how it relates to the first. When we created the platform, mainly to support the sale of green bonds, there was virtually nowhere to find accurate information about Japan’s green bond market. We use cookies to improve service quality. The market was practically invisible, so there was no progress. As we mentioned before, in Japan, where indirect financing is the norm, it is important that regional financial institutions first get their feet wet with ESG investment, before engaging impact investment. Location. At present, I would say the jury is out on social impact as a reliable indicator of manageable risk and sound investment. MOE has supported green bond and sustainability bond issues by writing guidelines, conducting pilot programs to promote SDGs (Sustainable Development Goals) and supporting bond issues with subsidy. Ministry of the Environment. We’re working to build a system that supports a sustainable environment and sustainable economic growth by building a financial system based on ESG considerations. MOE is focusing on three measures to promote ESG investment: 1) expanding investments and loans aimed at positive impact; 2) implementing ESG regional finance to support solutions to regional issues; and 3) promoting dialogue based on ESG commitments and ESG disclosures in the financial sector. Companies and investors who register on this platform can communicate with each other online, exchanging ideas and scheduling meetings. Following is the 2nd half of our interview with Aya Nagata and Yutaka Kikuchi, Deputy Directors for Environment Finance, Environment and Economy Division, Ministry of the Environment (MOE). The Concept is not binding or enforceable. They have embarked on ambitious programs to enhance both corporate and societal sustainability. MOE summarized the basic ideas of impact finance and the flow of the finance. This task force will develop a plan for regional finance in building a sustainable society and for the deployment of ESG regional finance. If we can identify a particular snag or hold-up, we can try to resolve it and get things moving. To wit, the ESG Finance High Level Panel established the Positive Impact Finance Task Force to hold discussions with investors, financial institutions, evaluators, and non-financial companies. What specific measures is MOE working on to promote ESG investment? However, only 6% have actually organized ESG evaluation systematically and only 12% have established a department to work on ESG/SDGs, which is still a long way from putting plans into practice. MOE would like to find out implementation cases of the signatories, put them together, and make the public aware of it. Unfortunately, our website is currently unavailable in most European countries. She was in charge of the environmental finance policies such as promoting Green Bond, impact finance, Green Fund which is to mobilize private investment into low-carbon project. Japan’s Ministry of the Environment (MOE) leads the environmental area of ESG promotion and has raised its profile in ESG investment. One measure already in practice is the Environmental Reporting Platform Development Pilot Project, which promotes ESG disclosure and dialogue. Policy and Coordination Division, Environmental Regeneration and Material Cycles Bureau We will then promote impact finance to larger financial institutions and institutional investors who are most likely to engage in impact finance, and we will cite successful examples while seeking more innovative incentives to engage impact finance. XBRL allows the expression of semantic meaning commonly required in business reporting. Among those issues, it is especially important to be able to measure the actual impact of any particular investment. Public funding alone is insufficient to realize the kind of society we envision, so we need cooperation from the private sectors. I think promoting impact finance is one of the duties MOE needs to take on. All the efforts we’ve discussed support MOE’s goal of expanding impact finance. I want you to see beyond the how far or how close we are to hitting reduction targets; I want foreign asset managers to see how in Japan we are working closely with the financial sector to achieve out ESG goals. Also, I believe some individual investors with a high level of risk tolerance will engage in impact investing. Copyright © Investment Japan Rights Reserved. Yutaka Kikuchi joined MOE in 2019. The private finance sector holds the necessary leverage to encourage corporations to change their behavior.
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