About Social Finance Framework
JASSO issues social bonds and procures social loans in accordance with the following Social Finance Framework based on the Social Bond Principles*1 as defined by ICMA and the Social Loan Principles*2 as published by the LMA and other organizations.
- *1 The Social Bond Principles are voluntary process guidelines established by the ICMA which aim to promote integrity in the Social Bond market.
- *2 The Social Loan Principles are voluntary process guidelines established by the LMA(Loan Market Association）, APLMA(Asia Pacific Loan Market Association) and LSTA(Loan Syndications and Trading Association) with the aim of fostering the development of social loan products while maintaining the flexibility of the loan products.
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, and are bonds targeted for ESG investment*3.
- *3 ESG investment refers to investment that focuses specifically on Environmental, Social and Governance factors.
About Social Loan
The Social Loan is a loan issued to raise funds for projects that help to resolve social issues (Social Projects), as defined by the LMA and others in its Social Loan Principles, and are loans targeted for ESG investment.
Impact Report
Impact reports on JASSO Social Finance (JASSO Social Bonds and social loans) have been published as below.
External Review
JASSO Bonds since the 72nd Series and private sector borrowings since April 2023 are based on the Social Finance Framework, which acquired a second-party opinion from Japan Credit Rating Agency, Ltd. as being in compliance with the Social Bond Principles 2021, Social Loan Principles 2023 and the Social Bond Guidelines (formulated by the Financial Services Agency).
