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Principles for Financial Action towards a Sustainable Society

October 6, 2011

The Drafting Committee for the "Japanese version of PRI," which is comprised of volunteer Japanese financial institutions, released the "Principles for Financial Action towards a Sustainable Society" on October 4, after long and intensive discussions since September 2010.

1. Background
In summer 2010, the "Expert Committee on Environment and Finance" under the Central Environmental Council published a report titled "Towards Green Finance, a new role for the financial sector in building a low carbon society." This report included a policy recommendation for establishing the "Japanese version of PRI" aiming at expanding environmentally-friendly finance in Japan.

Based on this recommendation, Mr. Takejiro SUEYOSHI (Special Advisor to UNEP Finance Initiatives) called for Japanese financial institutions to engage in the drafting process of the Principles. Upon his request, about 30 financial institutions, from variety areas within the financial sector, participated in this process voluntarily.

The Drafting Committee held, in total, 7 plenary meetings and 17 working groups beginning in September 2010, and the MOE supported the entire process as a Secretariat.

2. "Principles for Financial Action towards a Sustainable Society" and "Sector Specific Guidelines"

The Drafting Committee adopted the "Principles for Financial Action towards a Sustainable Society," as well as the "Sector Specific Guidelines" on October 4. The signatory financial institutions are supposed to take action in line with the sector

>>For Japanese

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