On the occasion of the Japan presidency of the G20, Tokyo Dialogue on Sustainable Finance was a full day conference which aims to provide a platform for a profound discussion among various stakeholders in the region and in the world. Healthy planet is a prerequisite for all sustainable economic and social activities, and climate is a fundamental element, however the foundation is being undermined. On the other hand, it is recognized that the Paris Agreement as well as Sustainable Development Goals (SDGs) have become real game changers in the business for the 21st century and bring risks and opportunities in business. This conference was to be held in the lead of private sector with the support by relevant Ministries of Japanese government and other international organisations, and to intend sustainable finance in Japan, in the region and in the world to become in full swing on the occasion of G20 summit.
Date and Time: 3 June 2019, 9:00 -18:00 (Reception starts at 8:30)
Venue: International House of Japan
Language: English/Japanese (Simultaneous Interpretation)
Organizers: Japan Climate Initiative (JCI), UN Environment Finance Initiative (UNEP FI)
Supporters: Financial Services Agency, Ministries of the Environment, Ministry of Foreign Affairs
Sponsors: Development Bank of Japan Inc., Mizuho Financial Group, Inc., MS&AD Insurance Group Holdings, Inc., Mitsubishi UFJ Financial Group, Inc., Principles for Financial Action for the 21st Century, Sompo Holdings, Inc., Sumitomo Mitsui Financial Group,Inc., Tokio Marine & Nichido Fire Insurance Co., Ltd. (In alphabetical order)
Morning Session (9:00-12:30)
■Master of Ceremony Hiroko Kuniya, Board Member, Renewable Energy Institute
Takejiro Sueyoshi, Special Advisor to UNEP FI in the Asia Pacific Region, and Representative of Japan Climate Initiative
■Special video message 1
Mark Carney, Governor of Bank of England
■Speeches of guest of honors: High level government officials from Ministries
Takashi Nagao, Parliamentary Vice-Minister, Financial Services Agency
Takaaki Katsumata, Parliamentary Vice-Minister, Ministry of the Environment
Hideo Suzuki, Ambassador, Assistant Minister for Global Issues/Director-General for Global Issues, Ministry of Foreign Affairs
■Commemorative Speech 1 “Japanese view of Nature”
Tetsuo Yamaori, Scholar of Religion
■Special video message 2
Christiana Figueres, Chairperson of Mission 2020
■Commemorative Speech 2
Masamichi Kono, Deputy Secretary-General, Organisation for Economic Cooperation and Development (OECD)
■Special video message 3
Al Gore, Former Vice President of the United States
■Special Guest Speech
Yuriko Koike, Governor of Tokyo Metropolitan Government
■High-level Panel Session: “Aligning financial industry with societal needs”
It is Paris Agreement and SDGs that lead the way for 21st sustainable society. What transformation is needed and viable to make it happen? In this session, distinguished speakers from various sector shared and exchanged the high-level perspectives. This session explored what it means for financial industry to align with Paris Agreement and SDGs.
Robert Youngman, Team Leader, Green Finance and Investment, OECD
Stephen Nolan, Managing Director, UN Environment Financial Centres for Sustainability (FC4S)
Paul Dickinson, CDP Executive Chair
Takanobu Suehiro, Head of Corporate Sustainability Dept, Sumitomo Mitsui Financial Group and Co-Chair of Principles for Financial Action for the 21st Century
Junko Komori, General Manager, Corporate Social Responsibility, Corporate Planning Dept. Tokio Marine & Nichido Fire Insurance Co., Ltd.
Hideki Takada, Secretary General, Green Finance Network Japan / Ministry of Finance, Japan
■High-level Dialogue: “Financial Regulation and Sustainability from Japanese, Chinese and European perspectives”
A strong leadership by financial regulators and policy makers is a key to foster a stronger enabling environment for sustainable finance. Within the context that different jurisdictions have different perspectives and approaches to reach for the same goal, in this session, high level officials who engage in promoting green and sustainable finance policies in different jurisdictions updated the audience about the recent developments and exchanged views and ideas through the dialogue, and explored how the international harmonization would be feasible.
Satoshi Ikeda, Chief Sustainability Officer, Financial Services Agency of Japan
Wang Qingrong (Dr.), Branch Director of the Policy and Research Bureau, China Banking and Insurance Regulatory Commission
Eric Usher, Head of UNEP FI
Afternoon session (13:30-18:00)
■Commemorative Speech 3
Pavan Sukhdev, TEEB, President of WWF International
■Panel Session 1: “A vision for the three Principles for Sustainable Finance: PRI, PSI and PRB”
When the “Principles for Responsible Banking (PRB)” is officially announced at the UN General Assembly held in New York in September this year, international initiatives for the three types of finance – investment (PRI), insurance (PSI) and banks (PRB) will be in place. Panelists discussed what collaborations by these three principles would be desired to further accelerate sustainable finance in the world.
Eric Usher, Head of UNEP FI
Hiroko Urashima, Sustainability Section, Corporate Planning Department, MS&AD Insurance Group Holdings, Inc.
Takayuki Tsujii, General Manager, Patagonia Japan
Minoru Matsubara, Asset Management Department, Resona Bank, and Co-Chair of Investment Working Group of Principles for Financial Action for the 21st Century
Jacki Johnson, Group Executive, People, Performance and Reputation, IAG
■Panel Session 2: “Opportunities derived from the implementation of Paris Agreement”
The Paris Agreement does not just give warning to business and finance. It brings new opportunities. Various zero emission initiatives have already started and private sector are engaging in fierce competition for the cutting-edge technologies. How business could follow this trend is crucial to the survival of business. In this session, panelists discussed from a practical point of view how to capture this new growth opportunity.
Satoshi Abe, General Manager of Social Environment Department, Sustainability Management Division, Ricoh Corporation
Kenji Kawado, Representative Director, Shizen Energy Inc.
Shiho Koshikawa, General Manager, Corporate Social Responsibility Department, Sompo Japan Nipponkoa Insurance Inc.
Hitoshi Suzuki, Assistant Director, Social Policy Division, Department of Economic and Social Policy, The Japanese Trade Union Confederation
Remco Fischer, Climate Change Lead, UNEP FI
Masaya Ishida, Manager, Renewable Energy Business Group, Renewable Energy Institute
■Panel Session 3: “Positive Impact as a new paradigm for SDG solution”
This session aimed to introduce the concept, definition, principles and frameworks of UNEP FI’s Positive Impact initiative, which is a new paradigm for business and finance to contribute to the achievement of SDGs. In this session, speakers showcased and shared their outlook on existing business cases or potential business area based on holistic impact-based approaches in environmental, social and economic dimensions.
Pierre Rousseau, Senior Strategic Sustainable Business advisor, BNP Paribas Group
Tsukasa Kanai, Chief Sustainability Officer, Sumitomo Mitsui Trust Holdings
Hideki Kobayashi, Head of ESG Office, Japan Real Estate Asset Management
Mari Kojima, Manager CSR group, Corporate Planning Div., FUJIFILM Holdings Corporation
Careen Abb, Positive Impact Lead, UNEP FI
■Conference Summary and Closing Remarks
Takejiro Sueyoshi, Special Advisor to UNEP F, and Representative of Japan Climate Initiative
Eric Usher, Head of UNEP FI