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July 31, 2023
Financial Services Agency

Invitation for Public Comments regarding “Draft Basic Guidelines on Impact Investment”

1. Purpose, Objectives and Background

 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.
 Based on these discussions, "Report by the Working Group on Impact Investment" was compiled by the Working Group and is hereby announced.
 We will solicit opinions regarding "3. Draft Basic Guidelines on Impact Investment" in the report in particular, which summarizes the basic ideas and process of impact investment, so that stakeholders including fund providers and fund raisers can refer to about their investment by their creativity and ingenuity in the following way.
 In addition, we would like to refer to the various opinions we received, including not only the "Draft Basic Guidelines on Impact Investment" but also impact investment and related measures. 

2. Subject of the call for opinions

 "3. Draft Basic Guidelines on Impact Investment"
 Please refer to (Attachment 1) for specific details.

3. Comment period (start and end dates of the call for comments)

 From 6:00 p.m. JST on Friday, June 30, 2023 to 5:00 p.m. JST on Tuesday, October 10, 2023 (must arrive no later than this date).

4. Where and how to submit opinions

 Please send your comments to sustainable-fin.esg@fsa.go.jp or via internet with your name (or your entity name), your occupation (or your entity’s business type), and your contact information (address, phone number and/or E-mail address) by 5:00 p.m. JST on Tuesday, October 10. Please refrain from submitting comments by telephone.

5. Other

 Please be advised that we will disclose the name (or the name in the case of a corporation or other organization) of the person who submitted the comment, along with the content of the comment, if requested to do so. If you wish to remain anonymous at the time of disclosure, please state so clearly at the beginning of your comment. If your opinion contains (1) information about an individual that could identify a specific individual, or (2) a statement that could infringe on the rights, competitive position, or other legitimate interests of a legal entity, we may withhold such information.
 Personal information, such as telephone number, will be used to contact or confirm the contents of the comment, or to confirm the position from which the comment was made.
 Please note that we will not respond to your comments individually.

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 Financial Services Agency
 Strategy Development Division, Strategy Development and Management Bureau, Financial Services   Agency
 Tel +81 -(0)3-3506-6000 (Ext. 2918、5404、2893)

 (Attachment 1) PDFReport by the Working Group on Impact Investment

 (Attachment 2) PDFReport by the Working Group on Impact Investment (Japanese)

 (Reference 1) PDFReport by the Working Group on Impact Investment (Overview)

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