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On June 4, 2018, Prime Minister Shinzo Abe held the 17th meeting of the Council on Investments for the Future at the Prime Minister’s Office.
 
At the meeting, discussion was held on the initial   draft of the Investments for the Future Strategy 2018 and on achieving growth through investments in energy and the environment.
 
Based on the discussion, the Prime Minister said,
 
“Today, we had briefings on the latest trends surrounding the environment and the economy. ESG (environment, social, and governance) investments have grown by more than 1 quadrillion yen compared to 2012. Flows of global funds are changing significantly, including an increase in green bond issuance by 50 times.
 
Measures against global warming are no longer a cost for companies. They are a source of competitiveness. Companies that actively fight against environmental issues attract funds from all around the world, enabling them to prepare for the next phase of their growth and take further measures. This change, which can truly be called a virtuous cycle between the environment and growth, has spread throughout the world at an amazing pace in the past five years or so.
 
Up until now, measures against global warming have consisted of obligatory measures in response to the Government’s initiatives. Meanwhile, if we are to lead the way towards decarbonization by 2050, we can no longer take such an approach. A paradigm shift is needed such that the virtuous cycle between the environment and growth is accelerated and technological innovations led by businesses are encouraged.
 
Firstly, we will stimulate active green finance, not by adhering to existing forms of regulations, but by advancing the disclosure of information and transparency.
 
Secondly, we will promote measures on a global scale, including developing countries, by shifting from support centered on public funding to private financing led by businesses.
 
Thirdly, we will combine the wisdom of not only the public and private sectors but also Japan, the United States, and Europe as well as the rest of the world, setting ambitious goals towards fostering revolutionary innovation.
 
Under such directions, I intend to assemble experts from every field, including finance, the economy, and academia, establish an expert panel  for setting out a new vision that is not limited by past precedent, and request relevant ministries and agencies to accelerate its considerations with this council, towards the establishment of a long-term strategy based on the Paris Agreement.
 
In addition, today, we also held discussions on the initial draft of the Investments for the Future Strategy 2018.
 
Amid the rapid advancement of the digital revolution, fierce competition is spreading around the world over data and personnel that create values. We must not sit idly by as this happens. Japan must lead the world on such advancement towards Society 5.0.
 
The coming few years will be a critical moment for our country. I declare this year to be the first year of the fourth industrial revolution. We will utilize technologies in every field to materialize the productivity revolution.
 
For that purpose, in priority areas such as the autonomous driving, healthcare, and e-government fields, we will establish public-private councils to gather wisdom from the public and private sectors, and promote flagship projects that can be the driving force behind such revolutions.
 
In addition, we will take on the challenge of implementing bold regulatory reforms that will serve as the foundation to materialize social change, and promote the creation of ecosystems that can produce innovation, including reforms of education systems, such as efforts to foster AI personnel, and university reforms.
 
I intend for this Council to prepare a new and ambitious growth strategy, taking on the challenge of major reforms to the socioeconomic system towards Society 5.0. Thank you.”