Finalization of “Basic Guidelines on Impact Investment (Impact Finance)"

The Working Group on Impact Investment(chaired by Noriyuki Yanagawa, Professor, Graduate School of Economics, The University of Tokyo), established in October 2022, has extensively discussed roles of "impact investment", which aims to realize both of social or environmental impacts and financial returns, as well as measures for dissemination on a total of eight occasions.

The FSA then published the draft of ”Basic Guidelines on Impact Investment ” and solicited comments between June 30, 2023 and October 10, 2023.

The purpose of these Guidelines is to foster common understandings on basic concepts and processes for, and further elaborate markets and practices on, impact investment, that fund-raisers, fund-providers, and other participants in impact investment markets could refer to when structuring, financing, and promoting collaboration for investment projects through their ingenuities and approaches.

The FSA received comments on the draft Basic Guidelines from 43 individuals/entities. As a result of further discussion at the 9th Technical Committee, the ”Basic Guidelines on Impact Investment (Impact Finance) ” was finalized as shown in Appendix 1 in Japanese and Appendix 2 in English. Please see Appendix 3 for the comments received and our response to them. The summary of ”Basic Guidelines on Impact Investment (Impact Finance) ” is provided in Appendix 5. Based on the Basic Guidelines, further discussions will be held at the Japan’s Impact Consortium going forward.

(Appendix 1)

Basic Guidelines on Impact Investment (Impact Finance) (Japanese)

(Appendix 2)

Basic Guidelines on Impact Investment (Impact Finance) (English)

(Appendix 3)

Summary of opinions received concerning the draft Basic Guidelines on Impact Investment (Impact Finance) and responses to them (Japanese and English)

(Appendix 4)

Summary of the draft Basic Guidelines on Impact Investment (Impact Finance) (Japanese)

(Appendix 5)

Overview of Impact Investment

Contact

Financial Services Agency TEL: +81 -(0)3-3506-6000 (main)

Sustainable Finance Office, Strategy Development Division, Strategy Development and Management Bureau (Ext. 2918,5404,2189,5363)