MOE study group proposed new information disclosure procedue for newly listed market of renewable funds 2015 in Japan （FGW）
Green Investment Study Group led by the Ministry of Environment in Japan finalized its interim report which asks to introduce clear and specific information disclosure procedure of Tokyo Stock Exchange’s expected new listed market for infrastructure funds including renewable energy business in 2015.
The Group has been chaired by Prof. Yoshihiro Fujii, Sophia University and consisted of 19 financial experts in Japan. During discussions they invited Mr. Sean Kidney, CEO of Climate Bonds Initiative from London, to get his advice and their expertise.
The aim of the group is selecting and showing appropriate disclosure items for renewable energy fund to list the new market. They have clarified 3 dimensions of information which need for investors to determine of their investment, such as sustainability of the businesses, environmental effect of them, and structure and operation of funds.
In case of business risks of renewable energy investment, they showed 16 items to be disclose, for example, secureness of site, selling contract with electric power company, and influence of possible regulation reform and change and so on.
The report also mentioned to be introduced third-party evaluation and verification system for better understanding of investors. TSX should make their own disclosure guideline based on this recommendations of the report.