About Social Bond

The Social Bond is a bond issued to raise funds for projects that help to resolve social issues (Social Projects), as defined by the ICMA (International Capital Market Association) in its Social Bond Principles*1, and are bonds targeted for ESG investment*2.

*1 The Social Bond Principles are guidelines for voluntary measures established by the ICMA which aim to promote integrity in the Social Bond market. They were first published in June 2017, and were updated in June 2018.

*2 ESG investment refers to investment that focuses specifically on Environmental, Social and Governance factors.

JASSO bond as a “Social Bond”

JASSO issues social bonds under the following framework, based on the Social Bond Principles defined by the ICMA.

External Review

Since its 52nd bond issuance, Japan Student Services Organization receives a second-party opinion from Vigeo Eiris, one of the world’s leading ESG evaluating institutions based in France, every time it issues social bonds in order to ensure alignment with the Social Bond Principles released by ICMA. The second-party opinion includes evaluation of Japan Student Services Organization's ESG performance as bond issuer.