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21 financial firms to jointly address human rights, decarbonization, and other global issues

On Nov. 29, 21 Japanese financial institutions, including major banks, regional banks, and insurance companies, agreed to make a concerted effort to work on “impact-driven investment and lending” that will lead to decarbonization and the solution of such social issues as poverty and human rights violations. Japan is lagging far behind U.S. and European financial institutions in this initiative. The participants in this scheme are also aiming to bring to the attention of investors in and outside Japan their positive stance toward social engagement activities.

 

Support for corporate reform

 

The 21 companies jointly signed and adopted the “Japan Impact-driven Financing Initiative.” The participants include MUFG Bank, Resona Holdings, The Dai-ichi Life Insurance Company, and The Shizuoka Bank. Japan Exchange Group, which operates the Tokyo Stock Exchange, joined the initiative as a supporter.

 

In the initiative, the participants agreed to utilize private funding for investment and financing without depending solely on public funding and prompt corporate reforms to resolve such social issues as the environment, including climate change, human rights, and response to the educationally disadvantaged. (Abridged)

 

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