Impact Investing Michiru Toda, Chief of the SIIF Impact Economy Lab, highlights the growth of impact investing in Japan. According to the 2023 survey, total impact AUM reached ¥11.54 trillion (approximately US$75 billion), a 197 percent increase from the previous year. 82 This rapid growth was primarily driven by an increase in investments by existing impact investing organizations, rather than newcomers. 83 Since the formalization of GSG Japan National Advisory Board, now GSG Impact JAPAN, impact investing has grown from ¥33.7 billion (about US$221 million) in 2016 to the ¥11.54 trillion (about US$75 billion) today. 84 In comparison, the global market has also seen significant growth, with the GIIN estimating the worldwide market at US$1.164 trillion: the first time this widely-cited estimate has surpassed the US$1 trillion mark. 85 GSG Impact JAPAN is further discussed in Chapter 4: SIIF as Catalyst, Convenor, Collaborator.
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Ten Years in the Making
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