Press Release
January 15, 2024
To all members of the press
Japan Impact-driven Financing Initiative
Secretariat: Japan Social Innovation and Investment Foundation (SIIF)

Signatories to the Japan Impact-driven Financing Initiative increased more than 3.5
times in two years to 74 institutions.
Impact finance AUM under the Initiative approximately tripled to 10,724 billion yen.
In 2024, the Initiative will strengthen asset owner engagement.
The Japan Impact-driven Financing Initiative (Secretariat: Social Innovation and Investment Foundation, hereafter"SIIF"), launched in November 2021 with the signatures of 21 financial institutions, today published the "Impactdriven Financing Initiative Progress Report 2023" (hereafter "Progress Report"), which summarizes activities andprogress in the second year of the Initiative.
The Initiative was launched in November 2021 by 21 financial institutions from various financial sectors, includingbanks, insurance companies, asset managers, and venture capitals, with the idea of solving environmental andsocial issues through finance as a purpose of financial organizations. In this Progress Report, as in last year'sreport, we have examined the impact finance AUM (Assets Under Management) of the signatory institutions in
the following three categories: those with "intention" and "strategy" but without "measurement" (category 0), thosewith "intention" and "strategy" and measuring outcomes (category 1), and those with "management" for impact
generation in addition to measurement (category 2). The latter two (categories 1+2) are classified as impact
finance, and the total impact finance AUM of 63 signatories/supporters (12 undisclosed) as of 2023 is 10,724
billion yen.

The total size of AUM has tripled from last year's 3.85 trillion yen. The reasons for this are: (1) major financial
institutions with large impact finance assets, such as Sumitomo Mitsui Banking Corporation, Norinchukin Bank,Nippon Life Insurance Company, etc., joined the Initiative last year; and (2) existing major financial institutions
expanded their impact finance AUM, such as Mitsubishi UFJ Bank, Mizuho Bank, SBI Shinsei Bank, Dai-ichi Life
Insurance, Japan Post Insurance, etc. Of the AUM reported, the domestic/international breakdown isapproximately 50/50. By asset class, loans represent the majority of the AUM.
The report also includes a special roundtable discussion, "Expectations for the Impact-driven Financing Initiative:
Why Finance Should Be Impact-Oriented Now," featuring Toru Takakura, President/Representative Executive
Officer at Sumitomo Mitsui Trust Holdings, Hiroshi Shimizu, President and Chief Executive Officer, Nippon Life
Insurance Company, and Keiko Tashiro, Deputy President, Corporate Executive Officer and Member of the Board,Daiwa Securities Group. The report also highlights the impact-oriented financial management activities ofindividual signatories and supporters of the Initiative.
In addition, the report presents the contents of the Mid-Term Plan developed in July 2023 and includes progress
on seven working groups and planning teams: Definition and Inclusion
Criteria, Impact Measurement and Management (IMM), Social Indicators, Asset Owner Asset Management,
Regional Finance, Venture Capital, and Overseas Collaboration.
As an important direction for the future, we will continue to share and discuss advanced cases of impact
measurement and management (IMM), which is an important feature of impact finance, as we did last year, andwe will also establish IMM planning officers in each working groups to promote cross-working group discussions,with the aim of creating a "Basic Idea of IMM" document as our Initiative. Regarding regional finance, we will
deepen discussions on the connection between lending and investment, and consider a new way for regional
finance to be impact finance. Since the participation of asset owners is low compared to other countries, we plan
to strengthen our efforts to reach asset owners, who are the key to the spread of impact finance.
Impact-driven Financing Initiative Progress Report 2023
JP only (https://www.siif.or.jp/wpcontent/uploads/2024/01/ProgressReport2023_final.pdf)

Issue date: January 15, 2024
<Table of Contents>
On the occasion of publication
About the Impact-driven Financing Initiative
Mid-Term Plan for 2023-2025
What is Impact-driven Financial Management?
Definition of Impact Financing / Balance
Special Roundtable Discussion: Expectations for theImpact-driven Financing Initiative: Why Finance Should
Be Impact-Oriented Now
Activities of Planning Teams and Working Groups in 2023
Signatories
Editorial note

<List of signatories to this report> *Signatories as of September 2023 (in alphabetical order)
ANRI Co., Ltd. / ARUN Seed/ Asset Management One Co., Ltd. / / Beyond Next Ventures, Inc. / BIG Impact Inc. / Cadira CapitalManagement Co., Ltd. / Capital Medica Ventures / Credit Saison Co., Ltd. / CROWD CREDIT, Inc. / Dai-ichi Kangyo Credit Cooperative /DG Incubation, Inc. / Daiwa Securities Group Inc. / Dream Incubator Inc. / Energy & Environment Investment, Inc / Fast Track Initiative,
Inc. / Funds, Inc. / Future Venture Capital Co., Ltd. / General Incorporated Foundation KIBOW / GLIN Impact Capital / Global Brain
Corporation / GLOBIS CAPITAL PARTNERS & Co./ Higin Capital Co., Ltd. / Japan Post Insurance Co., Ltd. / Japan Post Investment
Corporation / Keio Innovation Initiative, Inc. (KII) / Kyushu Mirai Investments Co., Ltd. / Meiji Yasuda Life Insurance Company / /Mitsubishi UFJ Trust and Banking Corporation / Mitsui & Co. Alternative Investments Limited / Mizuho Bank, Ltd / MUFG Bank, Ltd. /Music Securities, Inc. / Nihon PMI Partners Co., Ltd. / Nippon Life Insurance Company / Nippon Venture Capital Co., Ltd. / PHALs, Inc. /Plus Social Investment Co., Ltd. / Real Tech Holdings Co., Ltd. / Resona Holdings, Inc. / Ritsumeikan Social Impact Fund Investment
Limited Partnership / SBI Shinsei Bank Group / Shinkin Central Bank / SIGMAXYZ Investment, Inc. / SIIF Impact Capital, Inc. / Spiral
Capital, Inc. / Spurcle Inc. / Sumitomo Life Insurance Company / Sumitomo Mitsui Banking Corporation / Sumitomo Mitsui DS AssetManagement Company, Limited / Sumitomo Mitsui Trust Holdings, Inc. / Tajima Shinkin Bank / taliki, Inc / The Dai-ichi Life Insurance
Company, Limited / The Higo Bank Corporate Pension Fund / The Higo Bank, Ltd / The Kyoto Shinkin Bank/ The Norinchukin Bank /The Shizuoka Bank, Ltd. / T. Rowe Price Japan, Inc. / Venture Lab Investment Ltd. / Whiz Partners Inc. / Yamaguchi Capital Co., Ltd. /ZUU Co., Ltd.
〈Supporters〉 Japan International Cooperation Agency

Japan Impact-driven Financing Initiative website: https://www.impact-driven-finance-initiative.com/
For inquiries, please contact: Yamamoto, Public Relations, Japan Social Innovation and Investment
Foundation (SIIF) yamamoto.shiho@siif.or.jp / 070 7514 7634