Eco-business / Social Venture

December 23, 2011


MOE Releases Principles for Financial Action towards a Sustainable Society

Keywords: Eco-business / Social Venture Government Non-manufacturing industry 

Japan's Ministry of the Environment announced on October 6, 2011, that its Drafting Committee for the Japanese version of Principles for Responsible Investment (PRI) released the Principles for Financial Action towards a Sustainable Society, as well as Sector Specific Guidelines to implement the principles.

In summer 2010, the Central Environmental Council proposed the establishment of a "Japanese version of PRI" as a system to promote environmentally friendly finance in Japan. Based on this proposal, Mr. Takejiro Sueyoshi, Special Adviser to the United Nations Environmental Programme's (UNEP) Finance Initiative, called on Japanese financial institutions to take part in the drafting process of the principles. In response, financial institutions that agreed with the policies participated in the Drafting Committee.

Since September 2010, working groups of the Committee engaged in a long and intense discussion over behavioral guidelines to be followed in each financial sector. In its 7th meeting on October 4, 2011, the Drafting Committee adopted seven principles for financial institutions that want to take an active role and responsibility in the creation of a sustainable society. It also adopted guidelines tailored to each sector, which consist of asset management, securities, and investment banking services; insurance services; and deposit, loan, and lease services.

Signing of the principles by financial institutions will start in the middle of November 2011. At a general meeting scheduled for early 2012, signatories will exchange information, knowledge, and best practices on environmental finance.

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Japanese Government Proposes Leasing of Low-Carbon Equipment to Reduce GHG Emissions (Related JFS article)

Posted: 2011/12/23 06:00:15 AM



Press Release“Principles for Financial Action towards a Sustainable Society”