Nov07

Tokyo, 2 Nov. 2017: GLOBE Japan co-hosted "Financial Markets and Climate-related Financial Disclosure" Symposium with Al Gore

Categories // GLOBE Home Page, GLOBE International Secretariat News

Tokyo, 2 Nov. 2017: GLOBE Japan co-hosted

GLOBE Japan co-hosted the symposium on “Financial Market and Climate-related Financial Disclosure” in collaboration with Principles for Responsible Investment (PRI) Japan network on 2nd of November at the National Diet.

The final report on “Recommendations of the Task Force on Climate-related Financial Disclosure” was launched at the G20 Summit this year. In many countries including Japan, ESG investments that integrates environmental, social, and corporate governance factors as a long-term risk related to company management is becoming more and more popular.

The opening remarks by Masayoshi YOSHINO MP, President of GLOBE Japan and Vice-President of GLOBE International referred to this context and were followed by a panel with parliamentarians and investors. Hiroyuki NAGAHAMA MP, Vice-President of GLOBE Japan, Keisuke SUZUKI MP, Secretary-General of GLOBE Japan and Yuumi YOSHIKAWA MP, Director of GLOBE Japan, discussed these topicswith executive managers of investors including Schroders, Nihon Insurance and Nomura Asset Management.

The main conclusions of the discussion were that changing the behavior of each firm and individual is critical for the effective implementation of environmental policy. In that context, pressure from capital markets on every company is very useful, and the behavior of investors such as pension funds is the key. Therefore, to accelerate this trend, it is critical that policymakers and legislators it is  introduce appropriate regulation to set a standard and principles on climate-related financial disclosure.

On the second half of the Symposium, Former US Vice President Al GORE delivered a lecture titled “The Sustainability Revolution”.

Many parliamentarians and business delegates attended the event. GLOBE Japan keeps up ts efforts  to inform parliamentary debate on tackling climate change from various approaches, including the role of the private sector and policymaking.