Building Japan’s Impact Economy Case Series

Endnotes

42 Kizuna, “Finding New Value in Fukushima’s Dormant Resources,” The Government of Japan, October 28, 2022. 43 Fumi Kitagawa, “Lessons from the Japanese ‘regional revitalisation’ – impacts of regional industrial policies through decentralization,” Contemporary Social Science , December 3, 2024, https://doi.org/10.1080/21582041.2024.2433018. 44 Film interview with Sayaka Tomihara, November 22, 2024. 47 Interview with Takeshi Mizuguchi, July 2, 2024. 48 Interview with Masataka Uo, July 12, 2024. 49 Ibid. 50 Japan’s Ministry of Internal Affairs and Communications, “The Regional Revitalisation Cooperation Team,” accessed May 12, 2025, https://www.soumu.go.jp/main_content/000707762.pdf. 51 Film interview with Nanako Kudo, November 22, 2024. 52 Blue Marble Evaluation, “Principles,” accessed June 12, 2025, https://bluemarbleeval.org/. 53 PFC Social Impact Advisors’ diagram. 54 Film interview with Nanako Kudo, November 22, 2024. 45 Ibid. 46 Ibid. 57 Social Value International, “Principles of Social Value,” accessed May 12, 2025, https://www.socialvalueint.org/principles. 58 SDG News, “Bahamas, Standard Chartered, and Partners Launch $300M Debt Conversion for Climate and Nature,” January 16, 2025, https://sdgnews.com/bahamas-standard-chartered-and-partners-launch-300m-debt-conversion-for-climate-and- nature/. 61 Save the Children, “Save the Children Announces New Global Investment Entity to Deliver Social Benefit to Millions of Children,” November 16, 2022, https://www.savethechildren.net/news/save-children-announces-new-global-investment-entity-deliver- social- benefit-millions-children . 62 Save the Children, “Our Impact in 2023,” accessed June 4, 2025, https://www.savethechildren.net/stories/Save-the-Children- Annual-Review-Our-Impact-2023. 63 Ian Lewis, “Save the Children’s impact investing arm opens up new funding frontiers,” Impact Investor , August 23, 2024. 55 Interview with Katsuji Imata, June, 2024. 56 Interview with Daisuke Maki, July 5, 2024. 59 Interview with Daniel Izzo, December 2024. 60 Interview with Jennifer Pryce, December 2024.

64 Ibid. 65 Ibid. 66 Raven Indigenous Outcomes Funds, “About us,” accessed May 12, 2025.

67 Raven Indigenous Capital Partners Inc., “Raven Indigenous Outcomes Funds Announces $20.4 Million First Close of Initial Fund,” CISION, June 18, 2024, https://www.newswire.ca/news-releases/raven-indigenous-outcomes-funds-announces-20-4- million-first-close-of-initial-fund-854736981.html .

68 Ibid. 69 Ibid.

70 HSBC, “HSBC Partners with WRI and WWF to Scale Next Generation Solutions to Climate Change,” May 27, 2021, https:// www.hsbc.com/news-and-views/news/media-releases/2021/hsbc-partners-with-wri-and-wwf-to-scale-next-generation-solutions- to-climate-change. 71 Ibid. 72 The Nature Conservation Society of Japan, “Corporate Partnerships,” accessed May 12, 2025. 73 Oceans 5, “Protected Areas and OECMs in Japan,” accessed May 12, 2025, https://www.oceans5.org/project/protected- areas-and-oecms-in-japan/. 74 Oceans 5, “Dedicated to protecting the world’s five oceans,” accessed May 12, 2025. 75 Pending, based on PFC Social Impact Advisors’ work. 76 Jared Olson, “U.S. court approves historic settlement for Honduran farmers’ case against the World Bank’s IFC,” Mongabay, October 10, 2024, https://news.mongabay.com/2024/10/world-banks-ifc-must-pay-reparations-to-honduran-farmers-us- court-rules/. 77 Ibid. 78 BBC News, “Mining giants told to pay $9.7bn over Brazil dam disaster,” January 26, 2024, https://www.business-human rights.org/en/latest-news/brazil-bhp-vale-reach-317-billion-settlement-over-2015-fund%C3%A3o-dam-disaster/. 199

Ten Years in the Making

Powered by