Japan’s FSA Steps up Focus on ESG Ratings, Data Quality

FSA subcommittee established to formalise discussions with ESG rating and data providers on quality and reliability.

Japan’s Financial Services Agency (FSA) has established a special subcommittee on ESG ratings and data providers.

The move follows the release of a report last June which highlighted the increasing importance of ESG ratings and data providers as ESG investment expands.

The report was issued by an expert panel on sustainable finance, convened by the FSA, encouraging discussions with ESG rating and data providers to address issues relating to the reliability and quality of data, and a planned code of conduct for such firms.

It also recommended the development of a platform for practical information on ESG-related bonds, along with a mechanism that provides objective certification of the eligibility of such bonds.

The subcommittee’s members include representatives from Nomura Securities, Japan Credit Rating Agency, Japan Sustainable Investment Forum, R&I Credit Ratings, MSCI, Sumitomo Mitsui Banking Corporation, Sustainalytics, Manulife Investment, Resona Asset Management, Nissay Asset Management, Daikin Industries, and Nippon Keidanren Federation.

The new subcommittee held its first closed-door meeting on Monday, 7 February.

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