3rd Annual OECD Green Investment Finance Forum

1. Our Activity for the Development of
Green Bond Market
Nippon Life Insurance Company
Member of the Board & Executive Officer
Chief Investment Officer
OZEKI, Hiroshi
2016/10/13 GIFF
「Green bonds:
Mobilising the debt capital markets」
H28-1095G

2. 1
・ Bond investment in ESG area reached USD 1bln（JPY 110bln）
－Mainly in Green Bonds (around USD 400mil(JPY 60bln))
・ Communication with issuers and share our opinion broadly
－Proposition to issue Green Bond by direct contact with issuers
Green Bond issued by The City of Paris for the first time (July, 2014)
Environmental Friendly Bond issued by Transport for London (April, 2015)
Green Bond issued by NAFIN（Mexico） for the first time (October, 2015）
Nippon Life’s Activity（Bond Area）

3. 2
For the Further Development
of Green Bond Market
• Gaining social recognition of Green Bond is the most important
• Early stage supports from public sector is effective
－ Credit guarantee, subsidy, tax benefits etc
• Easy access to corporate bond markets
－ Third-party credit ratings
－ Information disclosure in English, set up MTN programs etc

4. 3
Proposition of “Green Investor Certification”
• Gaining social recognition of Green Bond is the most important
－ Understand the importance of Green Bond investment by funders
－ By gaining social recognition, institutional investors can easily expand its activities
• “Green Investor Certification” will enhance social recognition
－ Certification for investors who rules in their guidelines to make
environment-friendly investments in a certain scale
－ Third party will handle the certification
－ Another proposition is “Green Issuer Certification”