ABSTRACT

A tale of responsible investment (RI) in Japan, which is more widely known as socially responsible investment (SRI), must incorporate two narratives. In the common narrative, Japan’s SRI history begins with the launch of investment funds in the late 1990s when the financial ‘big bang’ swept Japan (Tanimoto, 2003; Sakuma and Louche, 2008). 1 A small number of SRI rating agencies and fund managers affiliated with large financial groups successfully channelled the money of environmentally conscious households into new financial products, called ‘eco-funds’ and, later, ‘SRI funds’ (Sakuma and Louche, 2008). 2