# ESG, CSR and CSV in Numbers: Japan's 671.8 Trillion Yen in Sustainable Investment, Mandatory Disclosure, Corporate Giving and Support for Nature Sites

Compiled by Karatsu Farm & Food (Karatsu Data Bank) / HTML: https://karatsu-f-f.com/en/esg-csr-csv-data.html / Published: 2026-10-30

- Sustainable investment assets in Japan: ¥671.8 trn. End of March 2025, 63.4% of total assets under management (Japan Sustainable Investment Forum)
- Companies working with outside organisations on social contribution: 88%. 87% of them name NPOs and NGOs as partners (Keidanren, 2024)
- Nature symbiosis sites in Japan: 610. 30 June 2026 (Ministry of the Environment)

## ESG, CSR and CSV, side by side in numbers

Sustainable investment assets in Japan stood at 671.76 trillion yen at the end of March 2025, 63.4% of total assets under management ([Japan Sustainable Investment Forum](https://japansif.com/2025survey-jp.pdf)). Listed companies with a market capitalisation of 3 trillion yen or more will be required to disclose sustainability information under the new SSBJ standards from the fiscal year ending March 2027 ([Financial Services Agency](https://www.fsa.go.jp/singi/singi_kinyu/tosin/20260108/02.pdf)). In a Keidanren survey, 88% of companies worked with outside organisations on their social contribution activities, and 87% of those worked with NPOs or NGOs ([Keidanren, January 2025](https://www.keidanren.or.jp/policy/2024/091_kekka.pdf)). This page sets out the money and rules behind ESG, CSR and CSV in Japan, using figures from government, business federation and international sources.

ESG (environmental, social and governance) is the lens investors use to assess companies and companies use to report on themselves. ESG investment money flows mainly into the shares and bonds of listed companies. CSR (corporate social responsibility) is a company's responsibility as a member of society; in Japan the term is often used for social contribution activities such as donations and volunteering. CSV (creating shared value) is the idea of solving social problems through the business itself while also creating value for the company. When companies work with NPOs and local groups, the money and people they provide come from social contribution budgets, employee volunteering, training and disclosure-related work. This page keeps the figures for the three apart.

This page was compiled by Karatsu Farm & Food as part of the Karatsu Data Bank. It sets out figures and statements as written in the sources, without conclusions or evaluations. Figures for different dates, scopes or definitions are shown separately rather than compared in one table.

| Survey year | Sustainable investment assets | Share of total assets |
|---|---|---|
| 2023 | ¥537.6 trillion | - |
| 2024 | ¥625.6 trillion | - |
| 2025 | ¥671.8 trillion | 63.4% |

Note: As of the end of March each year in principle. 2025 covers 56 institutions (55 respondents plus an estimate for GPIF). Shares for 2023 and 2024 are not shown on this page. Sources: [JSIF, Sustainable Investment Survey 2025](https://japansif.com/2025survey-jp.pdf); [preliminary results (19 December 2025)](https://japansif.com/251219.pdf)

## How much is ESG investment?

According to the Japan Sustainable Investment Forum (JSIF), sustainable investment assets in Japan were 671,764.47 billion yen at the end of March 2025, up 7.4% from the previous year and 63.4% of total assets under management. The figure was 537.6 trillion yen in 2023 and 625.6 trillion yen in 2024 ([JSIF, Sustainable Investment Survey 2025](https://japansif.com/2025survey-jp.pdf)).

By strategy, ESG integration (building ESG factors into investment decisions) accounted for 464.4 trillion yen, negative screening (excluding certain sectors or companies) for 374.4 trillion yen and impact investing for 3.1 trillion yen. Because one asset can be managed with more than one strategy, the strategy totals do not add up to the overall figure.

The Government Pension Investment Fund (GPIF) had about 12.4 trillion yen invested on the basis of ESG indices at the end of March 2026, using nine ESG indices, out of total assets of 293.64 trillion yen. The ESG index figure at the end of March 2025 was about 18.2 trillion yen ([GPIF, Sustainability Investment Report FY2025](https://www.gpif.go.jp/esg-stw/GPIF_Sustainability_Report_FY2025_J_02.pdf)).

The Principles for Responsible Investment (PRI) had 5,261 signatories at the end of March 2025: 4,018 investment managers, 748 asset owners and 495 service providers, with signatories' assets under management of 139.6 trillion US dollars. Of the 40 new asset owner signatories in 2024-25, nine were from Japan ([PRI Annual Report 2025](https://public.unpri.org/download?ac=24075)).

Worldwide, the Global Sustainable Investment Alliance (GSIA) reported 30.3 trillion US dollars of sustainable investment in 2022. Its 2024 review does not give a global total; it reports 16.7 trillion US dollars in "R&SI fund" assets under a changed method and says this cannot be compared with the 2022 figure ([GSIA, Global Sustainable Investment Review 2024](https://www.gsi-alliance.org/wp-content/uploads/2025/11/GSIR-2024-Main-Report.pdf)).

| Market capitalisation | Required from | Number of companies |
|---|---|---|
| ¥3 trillion or more | FY ending March 2027 | 68 |
| ¥1 trillion or more | FY ending March 2028 | 171 |
| ¥500 billion or more | FY ending March 2029 | 284 |

Note: Mandatory application of the SSBJ standards in annual securities reports. Third-party assurance is required from the year after. Sources: [Financial Services Agency, working group report (January 2026)](https://www.fsa.go.jp/singi/singi_kinyu/tosin/20260108/02.pdf); number of companies from [Financial Services Agency (July 2025)](https://www.fsa.go.jp/singi/singi_kinyu/tosin/20250717/02.pdf)

## When does sustainability disclosure become mandatory in Japan?

The Sustainability Standards Board of Japan (SSBJ) published Japan's sustainability disclosure standards in March 2025. Under the report of a working group of the Financial Services Agency's Financial System Council, use of these standards in annual securities reports becomes mandatory in stages, starting with the largest companies: from the fiscal year ending March 2027 for companies with a market capitalisation of 3 trillion yen or more, March 2028 for 1 trillion yen or more and March 2029 for 500 billion yen or more. Third-party assurance is required from the year after ([FSA, January 2026](https://www.fsa.go.jp/singi/singi_kinyu/tosin/20260108/02.pdf)). The groups cover 68, 171 and 284 companies ([FSA, July 2025](https://www.fsa.go.jp/singi/singi_kinyu/tosin/20250717/02.pdf)).

| Item | Share |
|---|---|
| Provide financial support (cash donations, etc.) | 92% |
| Promote employee giving and volunteering | 89% |
| Run their own programmes | 78% |
| Support employee pro bono work | 37% |
| Name "environment" as a priority area | 88% |
| Give "opportunities for employees to grow by engaging with social issues" as a reason | 77% |
| Work with outside organisations | 88% |
| └ Name NPOs and NGOs as partners (of those working with outside organisations) | 87% |
| Disclose "amount spent" | 65% |
| Have no benchmark for the social contribution budget | 69% |

Note: 153 of the 393 member companies of Keidanren's Committee on Corporate Behavior and SDGs responded (30 September to 1 November 2024). The number of respondents differs by question (136 for priority areas; NPOs and NGOs are a share of the 139 companies working with outside organisations). Source: [Keidanren, results of the questionnaire on social contribution activities (21 January 2025)](https://www.keidanren.or.jp/policy/2024/091_kekka.pdf)

## CSR: corporate social contribution in Japan

In Keidanren's survey from September to November 2024 (153 respondents), 92% of companies provided financial support such as cash donations and 89% promoted employee giving and volunteering. "Environment" was the most common priority area at 88%, followed by "nurturing the next generation" at 69% and "local communities" at 68% ([Keidanren](https://www.keidanren.or.jp/policy/2024/091_kekka.pdf)).

The most common reasons for social contribution were "responsibility as a member of society" (94%), "realising a sustainable society" (92%) and "building and maintaining good relations with local communities" (90%). "Opportunities for employees to grow by engaging with social issues" was given by 77% and "improving employee motivation and sense of belonging" by 74%.

88% of companies (139) worked with outside organisations, and 87% of those worked with NPOs or NGOs. The forms of partnership with non-profits were donations and resource provision (money, goods or people provided free or at low cost) at 86%, joint projects at 69% and transactions (buying the non-profit's products) at 16% (137 responses).

Among internal departments, the largest gap between the perceived need to work together and actual cooperation was with human resources (average of 4.29 for need and 3.70 for actual cooperation on a five-point scale, a gap of 0.59), followed by corporate planning (0.54). "Amount spent" was the most commonly disclosed item at 65%, and 69% of companies had no benchmark for their budget.

On spending, Keidanren's survey of social contribution activities for fiscal 2017 found a total of 199.7 billion yen, an average of 593 million yen per company, or 0.89% of ordinary profit (337 companies and groups) ([Keidanren, FY2017 survey](https://www.keidanren.or.jp/policy/2018/097_gaiyo.pdf)). Fiscal 2017 was the last published round of this spending survey, and no newer economy-wide figure has been found.

## CSV: creating shared value

CSV (creating shared value) was set out by Michael Porter and Mark Kramer in the January-February 2011 issue of Harvard Business Review. They describe three ways for companies to strengthen their competitiveness by addressing social problems: reconceiving products and markets, redefining productivity in the value chain, and building supportive industry clusters where the company operates ([Harvard Business Review](https://hbr.org/2011/01/the-big-idea-creating-shared-value), [Harvard Business School](https://www.hbs.edu/faculty/Pages/item.aspx?num=39071)). Examples of CSR and CSV in the hotel business are collected in [Hotel Sustainability in Numbers](https://karatsu-f-f.com/en/hotel-sustainability-data.html).

| Item | Value | As of |
|---|---|---|
| Nature symbiosis sites | 610 | 30 June 2026 |
| Share of site applicants that are companies | 52% | When there were 485 sites (February 2026 document) |
| Contact requests to sites listed for support matching (matches reported) | 27 (4) | FY2024 |
| Same | 20 (3) | FY2025 |
| Support certificates issued | 11 (trial) | FY2024 |
| Same | 13 | FY2025 |
| Support certificate fee | ¥99,000 (incl. tax) | Per application, FY2026 |
| 30by30 Alliance participants | 1,333 | 20 October 2026 |
| └ of which companies | 662 | Same |

Note: Japan's fiscal year runs from April to March. Sources: [Ministry of the Environment (30 June 2026)](https://www.env.go.jp/press/press_05186.html); [Ministry of the Environment, status of nature symbiosis sites, support certificates and support matching (27 February 2026)](https://www.env.go.jp/content/000380546.pdf); [support certificate page](https://policies.env.go.jp/nature/biodiversity/30by30alliance/kyousei/certificate/index.html); [30by30 Alliance participant list](https://policies.env.go.jp/nature/biodiversity/30by30alliance/documents/117872.pdf)

## Figures on companies supporting nature symbiosis sites

Japan's Ministry of the Environment certifies places where biodiversity is conserved through private or local efforts as "nature symbiosis sites"; sites certified for maintaining biodiversity are to be registered in the international database as OECMs. There were 610 sites as of 30 June 2026 ([Ministry of the Environment](https://www.env.go.jp/press/press_05186.html)). In a document from when there were 485 sites, 52% of applicants were companies, 30% NPOs and other groups, 16% local governments and 2% individuals ([Ministry of the Environment, 27 February 2026](https://www.env.go.jp/content/000380546.pdf)).

For companies that do not own land themselves but support other organisations' sites, the ministry runs a support matching page and issues "support certificates for nature symbiosis sites". Contact requests to listed sites numbered 27 in FY2024 (4 matches reported) and 20 in FY2025 (3 matches reported). The ministry's document gives the main reasons for matches as "distance to the site (e.g. within the same city)" and "agreement on the content of cooperation", and the main reasons for non-matches as "mismatch between paid and unpaid" and "disagreement on the content of cooperation" ([Ministry of the Environment, 27 February 2026](https://www.env.go.jp/content/000380546.pdf)).

Eleven trial certificates were issued in FY2024 and 13 in FY2025, the first year of full operation. The fee is 99,000 yen (including tax) per application. Support provided for payment, such as sales or contracted work, is not eligible ([Ministry of the Environment](https://policies.env.go.jp/nature/biodiversity/30by30alliance/kyousei/certificate/index.html)). Of the 13 certificates in FY2025, ten have published recipient sites; the only site in Kyushu among them is in Hita, Oita Prefecture (two certificates), and none is in Saga Prefecture. The sites for the other three had not been published at the time of the document ([recipient list](https://www.env.go.jp/content/000351526.pdf), [status document](https://www.env.go.jp/content/000380546.pdf)). A company that donates through corporate furusato nozei can also apply for a certificate if the donation is confirmed to have been spent on a site's activities. Figures on furusato nozei are in [Donations and Furusato Nozei in Numbers](https://karatsu-f-f.com/en/donation-furusato-data.html).

The 30by30 Alliance for Biodiversity had 1,333 participants as of 20 October 2026: 662 companies, 112 local governments, 395 NPOs and other groups, and 164 individuals. Karatsu City and Karatsu Farm & Food are both participants ([Ministry of the Environment](https://policies.env.go.jp/nature/biodiversity/30by30alliance/documents/117872.pdf)).

![Workshop participants in a showroom holding Precious Plastic products](https://karatsu-f-f.com/assets/img/esg-csr-csv-data-workshop.jpg)

A Precious Plastic Karatsu workshop held in a company showroom (MINI Japan Miyazaki BIG LOVE PROJECT)

## Karatsu Farm & Food in numbers

A total of 25,971 people have taken part in our activities (as of April 2026): 13,482 in plastic recycling workshops, 6,587 in environmental education, 3,313 in beach cleanups and 2,589 in biodiversity conservation. We have collected 3,026 kg of plastic bottle caps from homes, beaches and schools (same date). The Yokomakura nature symbiosis site (36.67 ha) in Ochi, Karatsu, a satoyama we look after with local residents, was the first site in Saga Prefecture to be certified as a nature symbiosis site by the Ministry of the Environment. For partnerships with companies, see [Partnerships with companies and hotels](https://karatsu-f-f.com/en/partnerships.html).

## Frequently asked questions

### Q1. What is the difference between ESG, CSR and CSV?

ESG is the environmental, social and governance lens that investors use to assess companies and that companies use in their disclosures. CSR is corporate social responsibility; in Japan it is often used for social contribution activities such as donations and volunteering. CSV is the idea, set out by Porter and Kramer in 2011, of solving social problems through business while also creating value for the company.

### Q2. How large is ESG investment in Japan?

According to the Japan Sustainable Investment Forum, sustainable investment assets in Japan were 671.76 trillion yen at the end of March 2025, 63.4% of total assets under management. GPIF's investments based on ESG indices were about 12.4 trillion yen at the end of March 2026.

### Q3. When does sustainability disclosure become mandatory in Japan?

Use of the SSBJ standards in annual securities reports is required from the fiscal year ending March 2027 for companies with a market capitalisation of 3 trillion yen or more (68 companies), March 2028 for 1 trillion yen or more (171) and March 2029 for 500 billion yen or more (284) (Financial Services Agency).

### Q4. How much do Japanese companies spend on social contribution?

Keidanren's survey for fiscal 2017 found that the 337 responding companies and groups spent a total of 199.7 billion yen, an average of 593 million yen each, or 0.89% of ordinary profit. Fiscal 2017 was the last published round of this survey.

### Q5. How often do Japanese companies work with NPOs?

In Keidanren's 2024 survey, 88% of companies worked with outside organisations on social contribution, and 87% of those worked with NPOs or NGOs. Donations and resource provision accounted for 86% of partnership forms and joint projects for 69%.

### Q6. How is corporate support for nature symbiosis sites certified?

The Ministry of the Environment issues support certificates for nature symbiosis sites. Thirteen were issued in FY2025, and the fee is 99,000 yen (including tax) per application. Paid support is not eligible.

## Source ledger

| Source | Publisher | Date | URL | Accessed |
|---|---|---|---|---|
| Sustainable Investment Survey 2025 | Japan Sustainable Investment Forum (JSIF) | 2025 | https://japansif.com/2025survey-jp.pdf | 2026-10-30 |
| Sustainable Investment Survey 2025, preliminary results | Japan Sustainable Investment Forum (JSIF) | 2025-12-19 | https://japansif.com/251219.pdf | 2026-10-30 |
| Global Sustainable Investment Review 2024 | Global Sustainable Investment Alliance (GSIA) | 2025-11 | https://www.gsi-alliance.org/wp-content/uploads/2025/11/GSIR-2024-Main-Report.pdf | 2026-10-30 |
| GSIR 2024 page | Global Sustainable Investment Alliance (GSIA) | - | https://www.gsi-alliance.org/members-resources/gsir2024/ | 2026-10-30 |
| Sustainability Investment Report FY2025 (Japanese) | Government Pension Investment Fund (GPIF) | 2026 | https://www.gpif.go.jp/esg-stw/GPIF_Sustainability_Report_FY2025_J_02.pdf | 2026-10-30 |
| PRI Annual Report 2025 | Principles for Responsible Investment (PRI) | 2025 | https://public.unpri.org/download?ac=24075 | 2026-10-30 |
| Report of the Financial System Council working group (Japanese) | Financial Services Agency of Japan | 2026-01 | https://www.fsa.go.jp/singi/singi_kinyu/tosin/20260108/02.pdf | 2026-10-30 |
| Financial System Council working group material, number of companies (Japanese) | Financial Services Agency of Japan | 2025-07 | https://www.fsa.go.jp/singi/singi_kinyu/tosin/20250717/02.pdf | 2026-10-30 |
| Survey of corporate philanthropic activities FY2017, summary (Japanese) | Keidanren (Japan Business Federation) | 2018 | https://www.keidanren.or.jp/policy/2018/097_gaiyo.pdf | 2026-10-30 |
| Questionnaire on corporate social contribution activities, results (Japanese) | Keidanren (Japan Business Federation) | 2025-01-21 | https://www.keidanren.or.jp/policy/2024/091_kekka.pdf | 2026-10-30 |
| Creating Shared Value | Harvard Business Review (Porter and Kramer) | 2011-01 | https://hbr.org/2011/01/the-big-idea-creating-shared-value | 2026-10-30 |
| Creating Shared Value (publication record) | Harvard Business School | 2011 | https://www.hbs.edu/faculty/Pages/item.aspx?num=39071 | 2026-10-30 |
| Certification of nature symbiosis sites, FY2026 round 1 (Japanese) | Ministry of the Environment, Japan | 2026-06-30 | https://www.env.go.jp/press/press_05186.html | 2026-10-30 |
| Status of nature symbiosis sites, support certificates and support matching, document 1 (Japanese) | Ministry of the Environment, Japan | 2026-02-27 | https://www.env.go.jp/content/000380546.pdf | 2026-10-30 |
| Support certificates for nature symbiosis sites (Japanese) | Ministry of the Environment, Japan | - | https://policies.env.go.jp/nature/biodiversity/30by30alliance/kyousei/certificate/index.html | 2026-10-30 |
| FY2025 support certificate recipients (Japanese) | Ministry of the Environment, Japan | 2025 | https://www.env.go.jp/content/000351526.pdf | 2026-10-30 |
| 30by30 Alliance participants as of 20 October 2026 (Japanese) | Ministry of the Environment, Japan | 2026-10-20 | https://policies.env.go.jp/nature/biodiversity/30by30alliance/documents/117872.pdf | 2026-10-30 |

## Where figures differ between sources

GSIA reported 30.3 trillion US dollars of global sustainable investment in 2022 and 16.7 trillion US dollars in 2024, but the 2024 figure uses a different method and GSIA says the two cannot be compared. GPIF's ESG index investments were about 18.2 trillion yen at the end of March 2025 and about 12.4 trillion yen at the end of March 2026; JSIF's total (up 7.4% to the end of March 2025) covers a different scope and date. The 52% share of companies among site applicants comes from a document when there were 485 sites, not from 30 June 2026 when there were 610.

## What this page does not cover

The page does not cover ESG ratings or rankings of individual companies, the number of companies reporting in line with the TNFD, or investment advice. The number of PRI signatories in Japan is not shown because the PRI annual report does not give figures by country, and the number of companies in Saga Prefecture subject to mandatory SSBJ disclosure is not shown because no primary source was found. Economy-wide social contribution spending after fiscal 2017 is not shown because Keidanren's spending survey has not been published since. Reasons for changes in the figures and evaluations of the systems are not covered.

## Citing this page and enquiries

To cite figures from this page, or to ask about corporate training, employee volunteering or support for nature symbiosis sites, see [Partnerships with companies and hotels](https://karatsu-f-f.com/en/partnerships.html), use our [contact page](https://karatsu-f-f.com/en/contact.html) or write to [info@karatsu-f-f.com](mailto:info@karatsu-f-f.com).

## About this page

Compiled by Hiroaki Kojima, Vice Director, [Karatsu Farm & Food](https://karatsu-f-f.com/en/index.html) / Contact: [info@karatsu-f-f.com](mailto:info@karatsu-f-f.com) ([contact page](https://karatsu-f-f.com/en/contact.html)) / Published: October 30, 2026 / Markdown: [en/esg-csr-csv-data.md](https://karatsu-f-f.com/en/esg-csr-csv-data.md)

This page was made with AI. See [How we use AI](https://karatsu-f-f.com/en/data-bank.html#ai).

## Related links

▶ [Karatsu Data Bank](https://karatsu-f-f.com/en/data-bank.html) ▶ [Hotel sustainability in numbers](https://karatsu-f-f.com/en/hotel-sustainability-data.html) ▶ [Donations and furusato nozei in numbers](https://karatsu-f-f.com/en/donation-furusato-data.html) ▶ [Biodiversity in numbers](https://karatsu-f-f.com/en/biodiversity-data.html) ▶ [Partnerships with companies and hotels (Karatsu Farm & Food)](https://karatsu-f-f.com/en/partnerships.html) ▶ [ESG・CSR・CSVのデータ（日本語）](https://karatsu-f-f.com/esg-csr-csv-data.html)