Tokyo Sustainable Finance ForumOrganized by Tokyo Metropolitan Government

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  • Tokyo Sustainable Finance Forum

Tokyo Metropolitan Government(TMG) has been proactively making efforts to promote sustainable finance through various actions in order to contribute to solving social issues through finance.Tokyo Sustainable Finance Week was organized by the TMG from Feb 8th 2021, with the aim to promote financial services that contribute to the establishment of a sustainable city and to develop Tokyo's presence in the field of sustainable finance.

‘Sustainable Finance Forum’, a high level forum for public and private sectors, including financial institutions and financial industry groups, was held during the Tokyo Sustainable Finance Week to discuss various possibilities offered by sustainable finance. At the forum, experts discussed the latest global trends in sustainable finance, the challenges in the sustainable finance market in Japan and a wide range of possibilities of sustainable finance that leverages the strengths unique to Tokyo. The program was divided into two sessions. In the first half, keynote speakers introduced current trends in sustainable finance. In the latter half, a panel discussion was organized. The panel experts discussed the diversification and possibilities of sustainable finance, including the perspectives of the post-COVID-19 era.

Outline

  • DateFeb 9th, 2021 (Tue) 13:30~17:30
  • OrganizerOffice for Strategic Policy and ICT Promotion, Tokyo Metropolitan Government
  • TargetThis forum is intended for Public institutions, Financial institutions, Financial industry groups and Business Firms (especially who belong to the ESG promotion department, corporate planning department, etc.)
  • FormatOnline
  • CapacityNo limitation applied
  • FeeFree

Tokyo Sustainable Finance Forum Program

*Japanese-English simultaneous interpretation available.

Time Contents of the session Speaker
13:30~13:45
(15 mins)
Opening Remarks/SpeechOpening Remarks/Speech | Tokyo Sustainable Finance Week
The vision of “Global Financial City: Tokyo” and efforts regarding Sustainable Finance
Hisaaki Terasaki
Director General, Office for Strategic Policy and ICT Promotion, Tokyo Metropolitan Government
13:45~14:15
(30 mins)
Keynote speech 1Keynote speech 1 | Tokyo Sustainable Finance Week
Global trends in Sustainable Finance
Takejiro Sueyoshi
Special Advisor, UNEP Finance Initiative
14:15~14:45
(30 mins)
Keynote speech 2Keynote speech 2 | Tokyo Sustainable Finance Week
Development of Sustainable Finance in Japan
Mariko Kawaguchi
Specially Appointed Professor, Rikkyo University Graduate School of Social Design Studies Executive Advisor to CEO, Fuji Oil Holdings Inc
14:45~15:15
(30 mins)
Keynote speech 3Keynote speech 3 | Tokyo Sustainable Finance Week
Sustainable Finance trends in Japan and overseas from the perspective of investors
Yasunori Iwanaga
Chief Responsible Investment Officer Amundi Japan Ltd.
15:15-15:35
(20 mins)
Coffee break
15:35-17:30
(115 mins)
Panel discussion
Discussion on diversification and possibilities of Sustainable Finance

前半の部 | Tokyo Sustainable Finance Week
後半の部 | Tokyo Sustainable Finance Week
Panelists
Leo van Stijn
Managing Director, Country Manager Japan,
ING Bank N.V., Tokyo Branch

Satoshi Ikeda
Chief Sustainable Finance Officer, Financial Services Agency

Akie Iriyama
Professor, Waseda University Graduate School of Business and Finance. Waseda Business School.

Keisuke Takegahara
Executive Officer, Deputy Chief Research Officer, Chief Manager of Sustainability Management Office, Corporate Planning & Coordination Department, Development Bank of Japan Inc.

Takumi Matsuo
Senior Officer, Corporate Strategy, Japan Exchange Group

Tomoki Muto
Managing Director, Global Head of Structured Finance, MUFG Bank, Ltd.

Facilitator
Yuki Isogai
Technical Lead, Sustainability Center of Excellence, PwC Japan Partner, PricewaterhouseCoopers Sustainability LLC
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Keynote speakers

  • Takejiro Sueyoshi | Tokyo Sustainable Finance Week

    Takejiro Sueyoshi

    Special Advisor, UNEP Finance Initiative

    Graduated Tokyo University in 1967. Joined Mitsubishi Bank and worked until 1998. Appointed as a member of the Special UNEP FI Steering Committee during his years with Nikko Asset Management as Deputy President. Participates in various international conferences on "Finance and the Global Environment". Appointed as Chairperson of WWF Japan and Vice-Chair of Executive Board of Renewable Research Institute. Promote and guide "Principles for Responsible Investment" and "CSR (Corporate Social Responsibility)" to Japanese companies.

  • Mariko Kawaguchi | Tokyo Sustainable Finance Week

    Mariko Kawaguchi

    Specially Appointed Professor, Rikkyo University Graduate School of Social Design Studies
    Executive Advisor to CEO, Fuji Oil Holdings Inc

    Completed the master's program at Hitotsubashi University Graduate School (Environmental Economics) in 1986, and joined Daiwa Securities. Transferred o Daiwa Institute of Research in 1994 and experienced in company surveys. Currently working as a specially appointed professor at Rikkyo University, an assistant CEO at Fuji Oil Group Headquarters, and a special advisor at Daiwa Institute of Research Ltd. (since April 2020)

  • Yasunori Iwanaga | Tokyo Sustainable Finance Week

    Yasunori Iwanaga

    Chief Responsible Investment Officer, Amundi Japan Ltd.

    Yasunori Iwanaga assumed the CRIO role in July 2020 to represent Amundi Japan on responsible investment and oversee its stewardship activities, having headed the investment group for six years from 2014. Before joining the firm, Yas was a managing director and CIO at BlackRock Japan, the former Barclays Global Investors Japan. He started his career in the asset management industry in 1997 at the Nippon Credit Bank. Yas earned his BA in law from Hitotsubashi University, MBA from the Wharton School, the University of Pennsylvania, and PhD in Finance from EDHEC Risk Institute. Yas is a planning committee member of the TCFD Consortium for FY2020.

Panelists

  • Leo van Stijn | Tokyo Sustainable Finance Week

    Leo van Stijn

    Managing Director, Country Manager Japan, ING Bank N.V., Tokyo Branch

    Leo van Stijn was appointed as Country Manager Japan for ING Bank on October 15, 2018 .In this role he is responsible for ING Bank’s Wholesale Banking Business in Japan. Prior this new position, Leo was Global Head of Structured Finance Renewables, Utilities, and Power from December 2007 until August 2018. Leo first joined ING Bank as a management trainee in 1984, and has undertaken various client facing and managerial roles over the years, both within Retail and Wholesale Banking. After assignments as head of Credit Risk Management for the Netherlands and subsequently for the Americas region, he assumed the role of Global Head of Credit Risk Management for Wholesale Banking in 2004. Leo holds a BBA and MBA from Nyenrode Business University in the Netherlands.

  • Satoshi Ikeda | Tokyo Sustainable Finance Week

    Satoshi Ikeda

    Chief Sustainable Finance Officer, Financial Services Agency

    In March 2019, he was appointed as the first Chief Sustainable Finance Officer of the Financial Services Agency of Japan or JFSA. In this new capacity, he covers a wide range of issues concerning sustainable finance which include, among other things, leading the Sustainable Development Goals project team within JFSA, and promoting climate-related financial disclosure in line with TCFD recommendations in Japan.

  • Akie Iriyama | Tokyo Sustainable Finance Week

    Akie Iriyama

    Professor, Waseda University Graduate School of Business and Finance. Waseda Business School.

    Professor Iriyama joined WBS in 2013. Prior to joining WBS, he served as an assistant professor of State University of New York at Buffalo, United States, for five years. He received MA and BA in economics from Keio University, Japan, and Ph.D. from University of Pittsburgh, United States. Professor Iriyama has broad research interests in strategic management, international business, and entrepreneurship. He has widely published in premier academic journals including Strategic Management Journal, Journal of International Business Studies, Strategic Entrepreneurship Journal, Global Strategy Journal, and so on. Before pursuing his academic career, Professor Iriyama worked for Mitsubishi Research Institute Inc., a leading research/consulting company in Japan, as an industry economist/business consultant.

  • Keisuke Takegahara | Tokyo Sustainable Finance Week

    Keisuke Takegahara

    Executive Officer, Deputy Chief Research Officer, Chief Manager of Sustainability Management Office, Corporate Planning & Coordination Department, Development Bank of Japan Inc.

    Graduated from the Faculty of Law, Hitotsubashi University in 1989.Joined the Japan Development Bank (currently Development Bank of Japan, Ltd.) in the same year. Worked as Chief Representative in Frankfurt and General Manager of Environment and CSR Department. He has been in his current position and as Chief Manager of Sustainability Management Office since 2017.Engaged in planning in the field of environmental finance, such as the establishment of DBJ Environmentally Rated Loan Program for a long period. Currently, he oversees the bank's industrial research activities. Writing third-party opinions on corporate CSR reports and giving lectures on ESG and SDGs.

  • Takumi Matsuo | Tokyo Sustainable Finance Week

    Takumi Matsuo

    Senior Officer, Corporate Strategy, Japan Exchange Group

    Takumi Matsuo joined his current position in 2016, and has concurrently been involved in a Sustainable Committee since its establishment in 2018. Prior to his current position, he has carried a wide range of functions and projects at JPX, including launching the ETF & Emissions Trading at listing, creating business planning of the JGB Futures & Options Market at Bonds Derivatives along with managing the equities field.
    His working experience also includes Secondee positions at the Ministry of Finance of Japan and at JASDEC (Japan Securities Depository Center, Incorporated) during which he was involved in the setting up of the CCP for DVP Book-Entry Transfer of the Corporate Bonds. Takumi Matsuo holds an MBA of Tokyo University Graduate School of Law and Politics and the faculty of Law from Waseda University.

  • Tomoki Muto | Tokyo Sustainable Finance Week

    Tomoki Muto

    Managing Director, Global Head of Structured Finance, MUFG Bank, Ltd.

    Tomoki Muto is managing director and global head of structured finance, where he globally leads project finance, aviation & shipping finance and ECA trade finance. He has over 25 years’ experience in the banking industry joining the Bank of Tokyo (now MUFG Bank) in 1993, with comprehensive experience in project finance starting from 1997. He was seconded to the InterAmerican Development Bank in Washington DC from 2002 to 2005. From 2011 to 2015, he was posted in Sydney as managing director for project finance. After heading the project finance office in Tokyo from 2017 to 2019, he is now also in charge of a new function within structured finance through the sustainable finance office, which was established in August 2019.

Facilitator

  • Yuki Isogai | Tokyo Sustainable Finance Week

    Yuki Isogai

    Technical Lead, Sustainability Center of Excellence, PwC Japan Partner, PricewaterhouseCoopers Sustainability LLC

    Since 2003, Ms Isogai has been involved in private sector development as a specialist in public institutions such as World Bank before joining PwC in 2011. She is responsible for supporting clients in developing their sustainability vision and strategy, sustainability risk management systems, addressing social issues in developing countries and promoting sustainable financing. Tokyo University Bachelors degree in Literature. Tokyo University Masters degree in Humanities and Social Sciences.

Report of the Tokyo Sustainable Finance Forum

Opening Remarks/Lecture

Director General, Office for Strategic Policy and ICT Promotion, Tokyo Metropolitan Government Hisaaki Terasaki

  • Based on the "Global Financial City: Tokyo" Vision formulated in 2017, a variety of initiatives have been carried out, such as improving the attractive business and living environment, promoting players participating in the Tokyo market, and contributing to solving social issues through finance. It was also announced that Tokyo ranked fourth international financial center worldwide and second in Asia in a recent ranking.
  • To consolidate Tokyo’s place as an international financial city and respond to various changes in the external environment, such as COVID-19 and climate change, the importance of sustainable finance is increasing. In-depth discussions on sustainable finance through this forum is believed to lead to the realization of a sustainable future.
  • Specific initiatives of TMG such as the issue of Tokyo Green Bonds, the operation of the Tokyo version of ESG Fund, and its membership in FC4S were introduced. With the intent to establish Tokyo’s position as an global financial city, it is actively promoting a variety of initiatives emphasizing the perspective of sustainable recovery in the future in cooperation with the national government and private companies.

Keynote Speech 1

Global Trends in Sustainable Finance

Special Advisor, UNEP Finance Initiative Takejiro Sueyoshi

  • UNEP First of all, Mr. Sueyoshi stated that the starting point of managing the 21st century's planet successfully was to ensure the peaceful coexistence of humanity and nature. He then introduced the history of sustainable finance with a focus on UNEP FI’s efforts. The recent global trend of net-zero, TNFD as a new movement, the mandatory TCFD, and the merger of IIRC and SASB were mentioned as well. He also explained the impact of such trends on financial institutions and businesses with case studies.
  • He pointed out that the essence of capitalism is being reconsidered under this major trend, and stated that a great social and economic reform is becoming necessary. He also introduced recent discussions on the role of the CEO and stated that a shift is happening from shareholder capitalism to stakeholder capitalism.
  • In the end, regarding the purpose and vision of Japan‘s finance, he emphasized the need to build a new order between the environment and the economy, from the past principle of putting the economy first. He pointed out that trends like Net Zero would bring about the biggest social reform in Japan after World War II, and he pointed out that it is time for financial institutions, as well as businesses and society as a whole, to reconsider the ideal financial system, as finance plays a role of infrastructure of society.

Keynote Speech 2

History of the Development of Sustainable Investment in Japan-From SRI to ESG Investment-

Specially Appointed Professor, Rikkyo University, Graduate School of Social Design for the 21st Century and Assistant to CEO of Fuji Oil Holdings, Inc. Mariko Kawaguchi

  • Professor Kawaguchi divided the development of sustainable investment in Japan into three phases: “The Dawn of sustainable finance: Socially Responsible Investment (SRI)," "Settlement and preparation period:From social responsibility to ESG (Sustainability)," and "Take-off Period: Integration of SDGs and ESG, sustainability with economy." She introduced detailed history at each stage, including the context of the times.
  • She said that the market for sustainable finance in Japan, which has finally taken off in 2015, is expanding rapidly. She expected that in the future Japan market would become the world financial leader for solving global and local social issues by integrating Japan's traditional values with the latest financial technologies.

    [Three phases of sustainable finance development in Japan]
    1990s-2005:The Dawn of sustainable finance: the emergence of Socially Responsible Investment (SRI)
    2005 -2015:Settlement and Preparation Period, from SRI to ESG (Sustainability)
    2015- :Take-off: Integration of SDGs and ESGs (Sustainability) with Economy

Keynote Speech 3

Sustainable Finance trends in Japan and overseas from the perspective of investors

Chief Responsible Investment Officer, Amundi Japan Ltd. Yasunori Iwanaga

  • From an investor’s perspective, Mr. Iwanaga introduced trends in sustainable finance in Europe and Japan.
  • He explained investors’ attitudes and investment approaches regarding responsible investment and ESG investment. As of 2018, Europe accounted for approximately half of the 3200 trillion JPY worldwide balance of responsible investment. He analyzed this as attributable to factors such as the action plans formulated by the European Commission and the established rules and disclosure framework.
  • In Japan, the implementation of the Stewardship Code and the Corporate Governance Code has led to demands for corporate activities and investment activities based on ESG. However, he pointed out that the uncertainty of economic returns and difficulties in measuring impact will become challenges in promoting ESG investment in future.
  • From the investor's viewpoint, he stated that engagment with an emphasis on ESG integration can contribute to enhancing corporate value, and he also mentioned four essential perspectives in engagement: management strategy, governance, performance management, and disclosure.

Panel discussion

The panel discussion discussed “Diversification and Possibilities of Sustainable Finance" from financial administration, financial institutions, and academic perspectives: (1) Characteristics and trends of sustainable finance in Japan; (2) Corporate value and sustainable finance; (3) Non-financial/ESG information; and (4) The decarbonization era, With/After COVID-19, and beyond.

Opening

  • The facilitator, Ms. Isogai stated that as emphasized by previous lectures, SDGs and the Paris Agreement have already become mainstream, the Net Zero transition is now becoming full-fledged and as stated by Mr. Sueyoshi it will “bring one of the largest social transformations ever in the world.” In addition, in terms of improving the long-term value of a company, sustainability is now one of the most important parts of management agenda as well.
  • As for sustainability finance figures, she pointed out that (1) In order to achieve the Paris Agreement, $100 billion per year since 2020 will be required; (2) According to the International Energy Agency(IEA), it is estimated that$2 trillion will be needed in the future to accelerate the transformation of the energy sector; and (3) As funds for achieving SDGs, it is estimated that $2.5 trillion per year is insufficient. She pointed out that sustainable finance is a field with significant potential as well as a growing demand.

Theme 1 Characteristics and Trends of Sustainable Finance in Japan

  • As an overview of financial administration efforts, Chief Sustainable Finance Officer of Financial Services Agency, Mr. Ikeda introduced corporate governance reforms, including the Stewardship Code, and trends in which ESG and sustainability elements have been incorporated. He explained that the intention is to promote innovation and thereby increase corporate value after incorporating diversified opinions of various stakeholders into the corporate decision-making process. He also stated that, since companies’ environmental and social risks and opportunities affect corporate value, the evaluation of corporate value in the capital markets and in the context of future transformation of the economy and society is extremely important .

  • Subsequently, Mr. Takegahara of the Development Bank of Japan, introduced the overview of Japanese financial institutions' efforts in ESG and SDGs. Sustainable finance is rapidly expanding across all asset classes. (1) ESG investment is becoming mainstream in the world of investment, and (2) in direct finance, ICMA guidance and others have been developed and reliability and transparency has been established. He mentioned that the benefits of this include the expansion of alternative investment, such as environmental real estate, and (3) the monitoring function of indirect finance is expected to play a major role in sustainable finance.

  • Afterwards, Mr. Matsuo of the Japan Exchange Group, Inc. introduced trends of ESG information disclosure by Japanese companies. The Tokyo Stock Exchange encourages and supports voluntarily ESG information disclosure by companies. Specific initiatives included (1) the Corporate Governance Code encourages listed companies to proactively disclose non-financial information, including ESG information, to address social and environmental issues, and encourages the Board of Directors to consider such issues in collaboration with stakeholders other than shareholders; and (2) the publication of the “ESG Disclosure Practical Handbook”, which incorporates the perspectives of investors (e.g., the identification of material issues) and links to corporate strategies. In addition, regarding ESG disclosure, he pointed out that an upcoming challenge will be bridging the gap between the perceptions of companies and investors.

  • Regarding the differences between sustainable finance in Europe and Japan, Leo Van Stijn, from ING Bank Tokyo Branch, pointed out: (1) The level of awareness on the urgency of responding to climate change between Europe and Japan is different. In addition, Europeans are aware that responding to climate change requires immediate action; (2) Regarding the demand for data measurement and disclosure, investors and customers in Europe are strongly requesting for carbon footprint data which is used in carbon emission mitigation, and therefore disclosure of such data is mandatory, while in Japan it has not yet become mandatory. However, Japan declared a net zero commitment by 2050 and a strategy for achieving decarbonization, so he believes that the decarbonization agenda in Japan will accelerate.

Theme 2 Corporate Value and Sustainable Finance

  • Professor Iriyama of the Graduate School of Business Management at Waseda University pointed out that Japanese companies are passively working on ESG in response to external pressure globally, but they haven’t actively focused on it. He pointed out that the Japanese have a weak sense of crisis, so the awareness of responding to climate change stays low. Besides, the Japanese lack a long-term perspective, partly due to the short tenure of top management in Japanese companies. He stated that medium-to long-term corporate value creation is a long-term perspective based story, and it will ultimately transform into profits by making investments and innovations headed for the future that contribute to the resolution of social and environmental issues.

  • Mr. Muto from Mitsubishi UFJ Bank, Ltd. introduced banks' efforts to increase corporate value. ICMA announced its concept of Climate Transition Finance, and the Japanese government has taken the lead in formulating a fundamental policy on transition finance. Against this backdrop, financial institutions have also stated that they will support transition finance in a manner that is acceptable to various stakeholders. He also introduced the perspective of financial inclusion and engagement policy.
  • Mr. Ikeda of the Financial Services Agency explained that management with an awareness of the cost of capital is important for enhancing corporate value over the medium to long term. To this end, he stated that it is necessary for companies to talk about their future direction not only with financial figures but also with non-financial information. FSA is also working on promoting business management which is with conscious of the cost of capital. To analyze the impact of the sustainability component on the cost of capital, he introduced that IIRC integrated reporting framework and SASB materiality assessment mechanisms can be taken as reference.

Theme 3 Non-financial and ESG Information

  • Regarding non-financial information for financial institutions and investors, Mr. Takegahara from Development Bank of Japan explained that the idea of integrating non-financial information into ordinary valuation, known as ESG integration, is the mainstream. Since long-term investors will examine long-term uncertainty, he explained that the sustainability of a business model is important because what can be explained by financial data is limited. In this case, materiality is essential as it is a factor affecting long-term stability of the business model. Regarding the trend of standardization of non-financial information, he stated that the standardization and mandation of disclosure rules are inevitable in a sense and that it is now a transitional period.
  • Regarding corporate non-financial information disclosure, Mr. Matsuo of the Japan Exchange Group expressed his opinions by classifying it into (1) qualitative and strategic information disclosure and (2) quantitative and pro forma information disclosure. Regarding (1), he stated that disclosure of materiality linked to individual business models, corporate strategies, and governance is required, and that regarding (2), it is quantitative information required by quantitative investors and investors use indexes, but as far as possible, among various ESG evaluation and ratings, it would be a challenge to let companies take in about why this would be called into questions.
  • Professor Iriyama of the Graduate School of Business Management at Waseda University pointed out that although corporate non-financial information disclosure is important, the key issue is not information disclosure, but the issue of the company‘s ability to explain its future value, and the issue of how to deal with investors. He said, for example, that it was important to thoroughly discuss this issue at IR meetings. In particular, it was necessary for the CFO and management to seriously discuss sustainability 30, 40, or 100 years into the future, and also stated that it is necessary for Japanese companies to make long-term commitments and investments for the future.

Themes 4 The decarbonization era, With/After COVID-19, and beyond

  • Mr. Muto pointed out that under COVID-19, how to respond to social and customer issues requires a conversion. He introduced MUFG‘s efforts, specific examples included (1) the issuance of COVD-19- compatible sustainability bonds for retailers, (2) portion out 0.5% of the Group’s net operating profits in the previous fiscal year to contribute to social contribution activities (by donations, etc.), and (3) the active promotion of ESG financing in Asia. He also stated that assessing the impact of non-financial conditions was one of the challenges that financial institutions should address.
  • Leo Van Stijn of ING Bank Tokyo Branch, cited responses to biodiversity as the next trend toward decarbonization. The EU has already formulated a biodiversity strategy for 2030, and he explained that this strategy is an important part of the European Green Deal. He also mentioned trends in resource circulation and stated that efforts to promote the Circular Economy are becoming more active in Europe, and that reducing, reusing and recycling resources will also contribute to responding to climate change.

Closing

After the Q&A session, panelists gave their expectations for Tokyo aiming to become an advanced city in sustainable finance.

  • Mr. Matsuo from the Japan Exchange Group said that he believes that the idea of “building an ecosystem" of emerging international financial cities is extremely important. While the Financial Services Agency mainly responds to the institutional aspect, it is extremely important for the Tokyo Metropolitan Government to support the ecosystem that does not included in the institutional aspect yet, and he said that he would like to cooperate with it in sustainable finance.
  • Mr. Takegahara from the Development Bank of Japan, stated that he reconfirmed the early history of sustainable finance from what was addressed by Professor Kawaguchi in keynote speech. He would like to discuss how to develop the sustainable finance in future. With such a large concentration of financial institutions, Tokyo should be the only place where as many industries engage in discussions across the board, in the future he would like to create a space to continue the conversation.
  • Mr. Ikeda of FSA stated that creating an International Financial Center is important. He pointed out that not only developing the financial market based on individual financial assets, but also gathering capital globally will become important in the future in order for Japan to become a market where Japanese companies or even various growing companies in Asia can raise capital. In this sense, he said that sustainable finance will be an important starting point, and he would like to continue to support the Tokyo Metropolitan Government's efforts of becoming a global financial city.
  • Leo Van Stijn from ING Bank, said Tokyo has the potential as an ecosystem and expects it to become a stronger international financial hub in the future. He suggested that more businesses will come into Tokyo from around the world by making cities themselves more sustainable and maintaining ecosystems.
  • Professor Iriyama from Graduate School of Business Management at Waseda University said that to create a strong sense of place, as mentioned by Mr. Takegahara, videos can be used to effectively visualize problems that are occurring around the world. Second, regarding the discussion on sustainable finance, he stated that he expects startups to be active in this field. In Japan, young start-ups which aim to solve social and environmental problems are increasing.
  • Lastly, Mr. Muto of Mitsubishi UFJ Bank, Ltd. pointed out that the governor of Tokyo Metropolitan Government had set out to reduce emissions on the Davos Agenda. He stated that, at the outset, Tokyo Metropolitan Government will make the city a green city by reducing CO2. In addition, as a financial institution, they would like to take sustainable finance as an opportunity to support Tokyo.

Based on the service agreement with Tokyo Metropolitan Government, Jiji Press Ltd is in charge of organizing of “Tokyo Sustainable Finance Week”