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GIG Supporters

GREEN INVESTMENT GUIDANCE

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)” published in October 2019.
* GIG Supporters are investors who use or plan to use the Green Investment Guidance(https://tcfd-consortium.jp/en/news_detail/19100802).

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.

SpeakerRemarks
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 SupportersExamples 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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Human
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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".

Engage-
ment

Investment
Decision &
Analysis

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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Human
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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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Human
Resource
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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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ment

Investment
Decision &
Analysis

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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ment

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.

Engage-
ment

Investment
Decision &
Analysis

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 Japan Nipponkoa 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

Engage-
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Investment
Decision &
Analysis

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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Human
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*These are tentative translation by the TCFD Consortium Secretariat.