A group of 21 leading financial institutions in Japan, including Dai-ichi Life Group, MUFG Bank, and Sumitomo Mitsui announced the launch of the Japan Impact-driven Financing Initiative, aiming to promote the measurement and management of the changes created through investment and financing activities on social and environmental issues and to support greater impact-focused financing in the country.
The new framework, initiated by the Social Innovation and Investment Foundation and impact-oriented financial institutions, aims to enable the Japanese financial industry to autonomously and sustainably develop impact-oriented investments and lending. According to the signatories, with Japan’s impact investing being still at an early stage, it is necessary for financial institutions to share their efforts and raise the level of these activities in order for the financial sector to produce positive outcomes on a larger scale. Overall, the initiative aims to evolve the Japanese financial industry to be more impact-oriented.
Actions taken by the Signatories will include practicing impact investment in each of their financial institutions, integrating impact measurement and management (IMM) as a decision driver, developing action plans, engaging in collaborative actions at the working level of signatories, collaborating to spread the implementation of IMM throughout the Japanese financial industry, participating in global initiatives, and continuing these activities until Japan’s financial sector is able to develop impact investing in a sustainable and autonomous manner.
Seiji Inagaki, The Dai-ichi Life Insurance Company, Limited President and Representative Director, said:
“We have revised our group vision to “Protect and improve the well-being of all ” in the new Mid-term Management Plan starting from 2021. As a key premise to achieve this vision, the realization of a sustainable society is essential, and it is necessary that more financial institutions take practical actions to solve environmental and social issues with “impact-driven” attitudes. We have been making impact investments, and will continue to expand and measure positive impacts of the investment portfolio. By sharing knowledge with those who support this Declaration, we will make a significant contribution to solving global environmental and social issues.”
The list of founding members includes ANRI Co., Ltd. Asset Management One Co., Ltd, Beyond Next Ventures Inc., Capital Medica Ventures Co., Ltd, Dai-ichi Kangyo Credit Cooperative, Energy &Environment Investment, Inc, Future Venture Capital Co., Ltd, Global Brain Corporation Mitsubishi UFJ Trust and Banking Corporation, MUFG Bank, Ltd, Nippon Venture Capital Co., Ltd, Plus Social Investment Co., Ltd, Real Tech Holdings Co., Ltd, Resona Holdings, Inc, Ritsumeikan Social Impact Fund Investment Limited Partnership, Shinsei Bank, Limited, Sumitomo Mitsui Trust Holdings, Inc, Tajima Shinkin Bank, The Dai-ichi Life Insurance Company, Limited, The Kyoto Shinkin Bank, and The Shizuoka Bank, Ltd.