Japan Urged to Push Pension Funds to Adopt ESG Principles
- PRI’s Morisawa says government has to trigger industry shift
- Pension funds’ moves likely to influence other money managers
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The world’s biggest industry body for sustainable investing wants pension funds to help pick up the slack for Japan, which is lagging in integrating environmental, social and governance factors into investment decision-making.
Such investors, whose behaviour is likely to influence other money managers, have been slow to adopt the United Nations-backed Principles for Responsible Investment, according to Michiyo Morisawa, the PRI’s Japan head. The government needs to push public pension funds to commit to ESG in order to spur a wholesale shift toward sustainable investing in the country, she said.