Sony Group Corporation’s venture capital arm Sony Innovation Fund announced today the launch of a new ESG evaluation process for portfolio companies, along with a program to support each company’s ESG efforts.
Toshimoto Mitomo, Executive Vice President, Sony Group Corporation, said:
“Through corporate management with a long-term perspective, the Sony Group is accelerating various initiatives for a sustainable society and environment. We also believe that ESG perspectives are indispensable for the long-term growth of start-up companies in conducting corporate venture capital activities.”
Sony stated that tackling ESG issues from an early stage is the key to the long-term and sustainable corporate value enhancement of each portfolio company. Given the lack of ESG benchmarks or scores for start-up companies, however, the Sony Innovation Fund developed an ESG scoring methodology to assess the level of ESG maturity of the companies, along with a process for evaluation at the time of investment and post-investment monitoring.
The fund aims to contribute to improving the understanding of ESG by each portfolio company and support their further implementation of ESG initiatives, and will also promote activities toward the realization of a sustainable and better society through supporting technologies that help address social issues and the ventures that own those technologies.
“By introducing this ESG evaluation process for portfolio companies, we hope to support innovations that lead to solving global social issues and contribute to the progress and development of society.”