, Japan
Photo by Micheile Henderson from Unsplash

Japanese insurers, banks to build sustainable finance platform

The collaboration seeks to build a digital platform for investment institutions.

Various Japanese insurers and banks have signed a joint venture for the development of a sustainable finance platform.

MS&AD Insurance Group Holdings (including Aioi Nissay Dowa Insurance and Mitsui Sumitomo Insurance Company), Sompo Japan Insurance, Tokio Marine & Nichido Fire Insurance, Nippon Life Insurance, Hitachi, Mizuho Bank, Sumitomo Mitsui Banking, and MUFG Bank, have recently announced the signing of a memorandum of understanding. 

Together, these firms will build the Sustainable Finance platform, aimed at establishing a seamless connection between investment institutions and listed companies as investment destinations. 

The platform will reportedly enable communication and facilitate mutual understanding, as well as enhance the disclosure of environmental, social, and governance (ESG) related information. The effectiveness and usefulness of this platform will be validated through verification processes.

These companies have also agreed to conducting joint studies focused on business initiatives for the advancement of sustainable finance.

ALSO READ: Japanese tech firms create embedded property insurance for online real estate

“We will seek a wide range of user companies, provide a beta version services of the platform in the fall of 2023 and work to verify its usefulness and to strengthen various functions. In this manner, we will conduct studies jointly towards formal launch of the services in the future,” said the group of insurers and bankers in a statement.

The collaboration targets to establish a general incorporated association the summer of 2023, which will be dedicated to providing beta version services on a digital platform specifically designed to promote ESG investment. 

The primary objective of the association will be to verify the effectiveness and value of the platform while fostering collaborative assessments towards the official launch of the services.

Join Insurance Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


Capital pressures linger as insurers adopt new accounting rule in South Korea
IFRS 17 adoption is seen to improve insight into margins and reserves, increase motivation for long-term profitability, and better global comparability for insurers.
Cover Genius redefines insurance with embedded protection technology
The insurtech eyes expansion in Asia, leveraging on the symbiotic relationship of digital and traditional insurance to tailor policies for diverse markets.