While JPI has already embedded ESG considerations across its portfolio, the intentionality of impact investing requires a new mindset. Nomura says, “Determining whether an investment has impact involves the fact that impact investing is something we’re just starting. It’s not necessarily about reviewing past investments with an impact lens but also finding and investing in new ones.” As JPI expands its impact investment strategy, it has placed particular emphasis on green transition bonds, marine resources, and biodiversity conservation. Nomura notes, “For oceans, for example, we have blue bonds, and we’ve invested in them. Historically, we’ve also invested in promoting gender equality and creating employment opportunities in emerging markets.” They see impact investments as not only beneficial for society but also essential for corporate sustainability and human livelihoods. A Long-Term Commitment to Japan’s Future For JPI, impact investing isn’t just about financial returns—it’s about shaping the future of Japanese society. The company sees itself as part of a long-standing tradition of national stewardship, using its influence as a major institutional investor to drive change at scale. Its investments—whether in blue bonds, gender equity, or local revitalization—are all part of a broader effort to build a sustainable and resilient Japan. Just as Radio Exercise became a national institution, JPI hopes that its commitment to ESG and impact investing will leave a legacy that endures for generations to come. Measuring impact creatively based on its deep connection to community could position JPI into an IMM leader. Conclusion and Provocations This case explores how impact investing is fixing a broken world through trials and testing. Transparency and openness about missteps, and outright failure, must be built into the system of improvement needed in the next decade. Can we create a paradigm shift to look at the brokenness as a learning moment? Can Japan expand to include community and expand its collaboration to include more diverse stakeholders and thought leaders? Tackling the world’s toughest issues requires acquiring wisdom from continuous learning from many perspectives.
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Ten Years in the Making
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