As part of the PRI's Collaborative Sovereign Engagement on Climate Change, PRI signatories participating in the Japanese engagement programme will seek to reduce to reduce risk associated with worsening global heating and maximise the opportunities arising from the transition to a net-zero global economy, including where related to:

• The value of sovereign debt investments;
• The continued competitiveness of national economies and investee companies; and
• Systemic risks and opportunities through exposure to the global economy.

This is consistent with investors’ fiduciary duty to address climate-related risks and opportunities by supporting governments in meeting the commitments to the Paris Agreement objectives, where applicable, and ensuring a just and orderly transition to net zero. This is recognised by the growing number of investors that now explicitly factor in sovereign climate performance to their investment decisions.

Disclaimer

The Collaborative Sovereign Engagement on Climate Change initiative (the initiative) is committed to compliance with all applicable laws and does not seek, require or endorse individual or collective decision-making or action that is not in compliance with those laws. Signatories are independent fiduciaries responsible for their own investment and voting decisions. The use of engagement tools and tactics, including the scope of participation in engagements is at the discretion of individual investors and subject to all relevant laws, including competition and antitrust laws. The initiative facilitates the exchange of public information, but participants must not share or exchange non-public, competitively sensitive information. Participants must avoid coordination of strategic behaviour that impacts competition. Participants must make independent decisions regarding next steps and how they will pursue them, and are encouraged to consult their own counsel as appropriate. 

The initiative does not act or speak on behalf of participants. Participants also do not seek directly or indirectly, either on their own or another’s behalf, the power to act as proxy for a security holder and do not furnish or otherwise request or act on behalf of a person who furnishes or requests, a form of revocation, abstention, consent or authorisation. Participants may not claim to represent other participants, the initiative or the PRI or make statements referencing other participants, the initiative or the PRI without their express consent.  

The initiative does not provide investment, legal, accounting or tax advice.  

Whilst the PRI has exercised its best efforts, it makes no warranties, express or implied, or representations as to the accuracy, reliability and completeness of any information provided on this website. The initiative does not necessarily endorse or validate the information contained herein. 

The Terms of reference, responsibilities, rights and other information contained elsewhere herein are intended to be interpreted in a manner consistent with the foregoing.