Recently, the financial flow considering Environment, Social and Governance, namely ESG challenges over sustainability, has been spreading rapidly and worldwide, with a variety of long-term signals from the Paris Agreement and SDGs as a backdrop. Following such trend, going beyond the borders between direct and indirect finance, the High Level Meeting on ESG Finance has been held seven times since January 2018. Toward creation of the new era and new growth, the meeting has been held for the financial market players’ to seek for the direction of actions and approaches, and for the government to support the trend along the directions. Major players in the financial markets gathered for the Meeting and shared a strong will for the future to utilize funds of the people for “solving climate change issues and economic/social issues simultaneously” and creating “new growth.” The members had unfettered discussions on their respective roles to play in the future and the recommendation of the High Level Meeting on ESG Finance was finalized.

The agenda of the High Level Meeting on ESG Finance

1st meeting
Why is it important to consider challenges to sustainability (ESG challenges) in the financial markets?
2nd meeting
What is required for constructive dialogues with companies?
3rd meeting
What should direct finance do to impact sustainability of the environment and society?
4th meeting
Direction of regional finance models from ESG perspectives
-basic concept and issues to be clarified and confirmed, etc. –
5th meeting
ESG’s potential for increasing dialogues with borrower companies and improving effectiveness of evaluating business potential
(e.g.: ingenuities and improvements in the practices contributing to sustainable business models).
6th meeting
The role of indirect finance for realizing SDGs and building a sustainable society.
7th meeting
Discussions on the draft recommendation, etc.