What is the Tokyo Financial Award?
With the aim of making Tokyo an unrivalled global financial center, the Tokyo Metropolitan Government announced the “Global Financial City: Tokyo” Vision in November 2017. The Vision outlines what form this city should take and concrete measures to be implemented. One of these measures is the creation of the Tokyo Financial Award, which would recognize financial companies developing and providing innovative financial instruments and services that help meet the needs of Tokyo residents, or which are working to advance ESG investments.
1. Resolution of Tokyo Residents’ Needs Category
We ask Tokyo residents to apply for their needs and challenges facing when using financial services in everyday life. Financial enterprises offering relevant solutions could apply for.
2. ESG Investment* Category
We ask Tokyo residents their interests and requests regarding ESG investments. Financial businesses actively working to advance relevant ESG investments could apply for.
The most outstanding business will be selected from all applicants in each category and awarded at a ceremony in February 2020.
For more details, please check each category’s page.
We look forward to hearing about your needs, and the challenges you have experienced
when using financial services.
“ESG” comes from the first letters of the three words, Environmental, Social and Governance. Up until now, cash flow, profit margins, and other quantitative financial data has been the main factors used to determine the value of a company. Investments which not only consider this information, but also take into account non-financial ESG factors, are called “ESG investments”. ESG factors are wide ranging, and include aspects such as climate change initiatives (under Environmental), promotion of women’s workforce participation (under Social), and the structure of the board of directors (under Governance).
Excerpt from the Government Pension Investment Fund’s What are ESG Investments?