Alternative Investments/ESG: Japan’s GPIF Invests $3.7B In Huge Plug For Corporate Gender Diversity

GPIF has adopted the Morningstar Japan ex-REIT Gender Diversity Tilt Index.

Japan’s $1.4 trillion Government Pension Investment Fund (GPIF) has allocated $3.7 billion to track the Morningstar Japan ex-REIT Gender Diversity Tilt Index, according to reports. The index aims to promote gender diversity in companies by emphasizing those that have strong policies rooted in their corporate culture and provide equal opportunities to all employees.

The giant pension fund, which began passive management of the index in March, evaluated environmental, social and governance indices for Japanese equities before making its decision.

“Based on our belief that the sustainable growth of investee companies and the whole market is crucial for the stable investment returns from assets under management, GPIF takes gender diversity, as one of the ESG factors, into consideration in its passive investment in domestic and foreign equities,” said Miyazano Masataka, President of GPIF.

The index is comprised of 928 constituents covering domestic listed companies within 10 sectors, with Toyota Motor, Sony Group and Mitsubishi UFJ Financial Group among its top holdings. Companies are ranked by their Equileap Gender Equality Score based on 19 criteria across four categories.

The index is reconstituted annually and rebalanced quarterly. GPIF is the world’s largest pension fund.

Related Story:  OpenAI CEO Sam Altman Calls On Japanese P.M. Fumio Kishida

Image by Dennis P from Pixabay

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