GIG Supporters
The TCFD Consortium is pleased to announce the launch of “GIG Supporters *” in order to promote its “Guidance for Utilizing Climate-related Information to Promote Green Investment (Green Investment Guidance)” initially published in October 2019 and was revised in October 2021.
* GIG Supporters are investors who use or plan to use the Green Investment Guidance.
Call for examples of application of the Green Investment Guidance
GIG Supporters page introduces the words from the government, business and financial sectors on the Green Investment Guidance, as well as to showcase examples of its application by investors with an aim to facilitate the use of the Guidance by stakeholders in the finance and business sectors. Your contributions are warmly appreciated. Please send comments to the TCFD Consortium secretariat with your company name, affiliation, contact phone and email address.
Comments by government, business and financial sectors on the Green Investment Guidance
Below are some of the statements from the government, business and financial sectors on the Green Investment Guidance. Many other comments have been received.
| Speaker | Remarks |
|---|---|
| Prime Minister Abe | Japan became the world’s first country to develop a “green investment guidance.” This will be a guideline for financial institutions and investors to assess environmental investment. I would like to diffuse the guideline to further accelerate the flow of funds toward discontinuous innovation. |
| Mark Carney（Bank of England Governor） | In the past year, almost 200 Japanese firms with a market cap of almost £2 trillion have joined the TCFD to bring Japan to the top of the TCFD league table. Japanese government support through the Implementation Study Group, the TCFD Consortium, and the newly issued Green Investment Guidance to providers of capital have all catalysed action. Japanese leadership has created a blueprint for other countries to follow. |
| Valdis Dombrovskis（Vice President of the European Commission） | I welcome Japan’s leadership on climate-related disclosures and its work towards a public-private initiative including green investment guidance to scale up green investment. |
| Mary L. Schapiro（TCFD Secretariat Advisor、Former Chairman of the US SEC） | Creation of an industry consortium which has today released the green investment guidance, aimed at helping investors better integrate climate-related information into their decision-making. |
| MIZUNO Hiromichi(PRI Board member / Executive Managing Director and Chief Investment Officer, GPIF) | This guidance we are hoping to be kind of looked at by the global investors. When we started talking about the dialogue between the company and investor, a lot of people got how. This kind of guidance probably would help. |
| Peter Bakker (President and CEO, WBCSD） | The “Green Investment Guidance” released today by the TCFD Consortium will be a useful tool in facilitating these dialogues between corporates and investors. |
| SHINDO Kosei（Representative Director and Chairman, NIPPON STEEL CORPORATION） | TCFD guidance and green investment guidance are highlighting not just risks of climate change but also the opportunities in each industry. And this is in order to achieve the balance between environmental protection and economic growth. I’m sure these guidelines will be very useful resources for government, companies, as well as for investors. |
| Helle Kristoffersen (President Strategy-Innovation of Total, member of the Executive Committee) | Constructive dialogue and engagement is indeed key. I got the chance to have a pre-read on the green investment guidance, and it strongly emphasized in there. |
| Gordon J. Fyfe (Chief Executive Officer & Chief Investment Officer, British Columbia Investment Management Corporation) | Japan issued the guidance for investors, and what that ends up doing is creating a framework for dialogue, a framework for discussion. It actually has … only 29 pages, there’s actually examples in there on how to have a conversation. And …we don’t know how to have this discussion. And so I think Japan should not only be congratulated but emulated by a lot of countries to encourage this sort of dialogue and this sort of a framework. |
Note: Affiliation and title are as of 8 October 2019.
Green Investment Guidance: examples of application
Here are some examples of application of Green Investment Guidance by GIG Supporters.
GIG Supporters continues to solicit investors for examples of applications to be posted on this page. Please be advised that your company name will be posted with examples of application.
| GIG Supporters | Examples of application of Green Investment Guidance* | |
|---|---|---|
| BNP Paribas Asset Management Japan Ltd. | It is used as a framework for communicating to non-Japanese companies how to apply the TCFD recommendations and how it will contribute to corporate disclosure of climate change information, etc.（Especially in countries where corporate governance and ESG data quality are insufficient）Utilizing “Green Investment Guidance” can help grasp an overall picture that lies behind climate change information disclosure. |
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| Amundi Japan Ltd. | The "Green Investment Guidance" is shared with the asset management department at the Stewardship Enhancement Meeting and is used as one of the assessment factors when identifying the points to be taken up during engagement. |
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| Manulife Investment Management (Japan) Ltd. | During the ESG dialogue, we refer to the “Green Investment Guidance” to share with issuers the importance of evenly assessing opportunities and innovations as well as risks in line with TCFD recommendations. We also used it for educational purposes at our in-house ESG study sessions on ESG investment and TCFD-related topics. |
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| Nomura Asset Management Co., Ltd. | The "Green Investment Guidance", helped us formulate a checklist to find out how companies are responding to TCFD. The Guidance is also used for engagement and company / industry analysis. Added the GIG Supporters logo in "Responsible Investment Report 2019". |
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| Nikko Asset Management Co., Ltd. | We plan to disseminate the "Green Investment Guidance" especially in our asset management department through training programs, with an aim to establish a common understanding when engaging with companies to discuss the risks and opportunities brought about by climate change. |
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| Nippon Life Insurance Company | The "Green Investment Guidance" is being used as a training and educational material with an aim to effectively use climate-related information disclosed by companies, and to promote forward-looking dialogue with our investees and borrowers. |
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| T&D Insurance Group | We plan to refer to the "Green Investment Guidance" as we consider incorporating information disclosure in line with the TCFD into the investment and financing process and engagement. |
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| Mitsubishi UFJ Trust and Banking Corporation | Based on the “Green Investment Guidance”, we engaged in dialogue with a company who is a TCFD supporter and is keen to mitigate CO2 emissions, with an aim to encourage further climate measures. The topic is the importance of better governance. It was found out that the company is in process towards a highly transparent governance structure, which we shared to our analysts as a good example. |
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| Asset Management One Co., Ltd. | While engagement on climate change is increasing more than ever, investees often make disclosures mainly from the perspective of risk. However, during dialogue, we refer to the “Green Investment Guidance” and encourage them to tackle climate change as a business opportunity. |
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| Resona Asset Management Co., Ltd. | Disclosure of information in accordance with the TCFD is established as our engagement agenda. To further dialogue and engagement, we refer to the viewpoint of “Green Investment Guidance”. |
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| Sumitomo Mitsui Trust Asset Management Co., Ltd. | We plan to use the "Green Investment Guidance" to have a more meaningful engagement with investee companies, and also for ESG evaluation and ESG investment of investee companies. |
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| BlackRock Japan Co., Ltd. | We feel that the "Green Investment Guidance" is useful when conducting dialogue with investee companies on information disclosure and the status of their efforts in line with the TCFD. We plan to disseminate within our company in order to further utilization by our asset management department. |
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| Sompo Asset Management Co.,Ltd. | During dialogue on TCFD, we refer to the "Green Investment Guidance", to communicate that we value the process of finding out what are the key metrics of the company and why are they chosen, rather than the figures digitally produced by the scenario analysis. |
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| Tokio Marine Asset Management Co., Ltd. | We intend to disseminate the "Green Investment Guidance" to enable our analysts to consider it upon undertaking corporate analysis or engagement. In particular, we include climate change in our proprietary corporate assessment sheet, and refer to the Guidance upon assessing corporate climate measures |
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| Development Bank of Japan | We refer to the “Green Investment Guidance” when evaluating the loan recipients or engaging with them, confirming their responses to climate change and information disclosure according to the TCFD recommendation and encouraging them to undertake measures which leads to mid- to long-term value creation. In our research department, we use the Guidance to proactively conduct seminars and discussions with companies, investors and researchers, in an effort to promote awareness for understanding and utilization. |
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| Sumitomo Mitsui DS Asset Management Company, Limited | From the perspective of fulfilling stewardship responsibilities, the company intends to use the Green Investment Guidance as one of the references for dialogue with investee companies, ESG evaluation, and investment decisions with an aim to further promote ESG investment. |
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| Meiji Yasuda Life Insurance Company | The company uses the Green Investment Guidance when undertaking engagement activities on ESG issues with investee companies, toward "promotion of constructive dialogue (engagement) leading to enhanced corporate value," which is one of the basic approached of the Guidance. |
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| Dai-ichi Life Holdings, Inc. | In engaging with investee companies, we refer to the approach described in the "Green Investment Guidance" as a viewpoint when confirming and evaluating the efforts of companies on tackling climate change. In addition, the "Green Investment Guidance" is explicitly included as a reference in the materials distributed to companies when engaging on the topic of climate change. |
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| Sumitomo Mitsui Financial Group, Inc. | We have announced our support for the TCFD recommendations, being the first global financial institution to estimate and disclose the financial impact of climate change. We utilize the "Green Investment Guidance" to share with our customers know-how and the importance climate change scenarios based on our own efforts. In addition, we refer to this guidance to engage in dialogues with our customers to identify their measures taken in line with the TCFD recommendations, with an aim to support their efforts in line with the transition to a low-carbon society. |
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| SUMITOMO LIFE INSURANCE COMPANY | Because the information in line with TCFD recommendations is an important factor in investment decisions and dialogue with companies, we take the perspective of 'Green Investment Guidance' into consideration. |
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| Mizuho Financial Group, Inc. | When using information disclosed in line with TCFD recommendations, we refer to the viewpoints provided in the "Green Investment Guidance" to deepen our understanding of the risks and opportunities facing customers regarding climate change and engage in constructive dialogue with customers. Through this, we support the necessary transformation of business structure and transition to a decarbonized society. In addition, through publication of various research analyses / reports related to ESG / SDGs, the viewpoints provided in this Guidance is utilized as a reference. |
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| Mitsubishi UFJ Financial Group, Inc. | We consider that the information disclosed by companies in line with TCFD recommendations is one of the critical factors for corporate assessment. We plan to refer to the perspectives explained in the "Green Investment Guidance" to identify and assess the risks and opportunities posed by climate change to companies or to undertake an engagement with each company. |
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| Invesco Asset Management (Japan) Limited | The company held study sessions using the "Green Investment Guidance" on issues which attention should be paid by investors, and shared its outcome. The company intends to use TCFD-related information on ESG research and engagement opportunities. Furthermore, the company also intends to utilize the Guidance to enhance disclosure as an asset management company in order to fulfill our stewardship responsibilities. |
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| Sumitomo Mitsui Trust Bank, Limited | We aim to support our clients in their effort of creating long-term value through providing our sustainability related solutions, and to create overall positive impact on society. We make use of "Green Investment Guidance" to enhance our engagement and dialogues with corporate clients. "Green Investment Guidance" helps readers better understand investor perspectives and the intents of the TCFD recommended information disclosure. |
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| Tokio Marine & Nichido Fire Insurance Co., Ltd. | In addition to financial information, we also place importance on ESG-related information which are non-financial, when conducting constructive dialogue (engagement) with an aim to enhance corporate value of investee companies in the medium- to long-term. Information disclosed on climate change issues including those following TCFD recommendations is an important factor in assessing corporate sustainability and future growth potential. Therefore, we aim to undertake engagement activities that are of high quality and usefulness by fully understanding the content of the “Green Investment Guidance” and considering its recommendations as a reference point in identifying key issues related to ESG. |
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| T. Rowe Price Japan, Inc. | Green Investment Guidance provides a good overview on our approach how we analyze and evaluate companies on climate issues, as well as how we hold dialogues with investee companies. It is not only helpful tool for us to promote disclosures from investee companies but it also serves as a good guidance for investee companies in preparation for disclosures and engagements. |
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| Daiwa Asset Management Co.Ltd. | The "Green Investment Guidance" provides investors with a perspective on how to read and understand corporate disclosures based on TCFD recommendations, which is useful for both investors and companies. We use this guidance in our engagement agendas with investee companies and also refer to it when making investment decisions, including ESG assessments. It will also be used to develop ESG human resources by sharing it with the investment management department and utilizing it in training. |
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| Neuberger Berman East Asia Limited | Neuberger Berman believes that engagement with the management of portfolio companies is an essential part of being an active investor from a long-term perspective. In particular, we believe that engagement on financially material ESG issues may contribute to improving corporate performance and reducing business risks. In recent years, the expansion of collaborative engagement by institutional investors has been attracting attention in Japan, and we have been conducting collaborative engagement on financially material environmental issues with members of the TCFD Consortium. In addition, we participate in discussions on how to respond to TCFD recommendations and in roundtable discussions between companies and investors to promote appropriate disclosure of climate change risks and the use of the TCFD framework. |
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＊These are tentative translation by the TCFD Consortium Secretariat.