We also have external investment managers with their own ESG evaluation criteria which include social dimensions such as human rights; child labor; poverty; gender inequal-ity; and supply chain management, most of which are in line with SDGs-related themes. Evaluation results of these “impact investments” are discussed on a quarterly basis. To make a thorough evaluation, we engage with external in-vestment managers that closely monitor the supply chains of investee companies. Changes at major Japanese compa-nies are becoming more and more visible in recent years: many enterprises have become more attentive to their entire supply chains, not just their own offices. R: More and more people do not want to buy products that could associate themselves with companies or goods that cause a negative impact on society. For companies however, controlling their supply chain is not an easy thing to do, especially for small and medium-sized enterprises. This is perhaps the next step for investee companies to attract more investments from highly conscious and responsible inves-tors such as educational institutions.H: Investments by educational institutions should be mis-sion driven. Sophia provides education based on its mis-sion, “Men and Women for Others, with Others,” and it also strives to “bring the world together” through education and research. Similarly, these mission statements are incorpo-rated into its investment activities. The university also en-sures that its operations are sustainable in the long term by producing targeted investment returns and preserving its purchasing power for future generations. Part of the proceeds from investments is also used for scholarships for students with financial difficulties, which is in line with one of the SDGs that calls for “quality education for all.” The key to successful investment is to have a shared under-standing of its mission and objectives among all parties, in-cluding internal management level and external stakehold-ers. A consensus on why investment is of vital importance to a school corporation needs to be established, because many people in Japan, including those who work for educational institutions, still perceive investment as something similar to gambling. To share knowledge about various global is-sues and how investment can positively influence society, Sophia offers extensive courses and symposiums relating to the SDGs agenda and ESG investment at both graduate and undergraduate levels. R: The next generations’ task will be much more demand-ing than what we are working on. But we have the means and tools to take on challenges. When I was a PhD student almost 20 years ago, about 90% of my classmates aspired to be auditors. However, none of them were interested in cor-porate social responsibility; the topic was not even included in our curriculum. Now, I am sure almost all auditors con-sider CSR as part of their business. People are starting to think that whether you want to or not, and whoever you are, be it an individual or organization, we are all facing the same challenges that the entire world is trying to overcome. Some positive examples will lead the rest, making it easier to accelerate collectively. H: To share positive examples and best practices, we are planning to open courses on sustainability and investment studies not only to students but also to business profession-als from outside the university. Increasing the number of key players adequately employing ESG-related business strategies is a contribution we can make to society. Using our interdisciplinary academic resources and the help of ex-ternal experts such as yourself, Professor Rimmel, we aim to have a positive impact on how each player acts in the context of corporate behavior and management. To strengthen the relationship between ESG factors and in-vestment performance, “materiality analysis” is important but not yet sufficient. Such analysis examines what kinds of ESG factors are truly material to investment performance, or significant to the value creation of a company in the long run. This is an area that requires further study. Educational institutions possess academic talent, but often lack experienced practitioners in business. We aim to boost the interchange between the academic and business communities, in order to nurture key individuals in ESG investment. Special Talk20
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