In a press release issued yesterday, in Japanese only, the Government Pension Investment Fund announced that it and the World Bank will research what new yardsticks — ratings, benchmarks, guidelines and so on — are needed to help investors pursue ESG strategies via bonds.
This is presumably investors in foreign bonds since the Japanese fixed income market consists almost entirely of government debt and the number of corporate issuers is minuscule.
Neither of the institutions involved has yet mentioned the budget allocated for the work.
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