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Updated: July 25, 2025

Financial Services Agency

"the Code of Conduct for ESG Evaluation and Data Providers":28 ESG Evaluation and Data Providers have endorsed the "Code of Conduct" as of June 30, 2025

The Technical Committee for ESG Evaluation and Data Providers (chaired by Tetsuo Kitagawa, Professor Emeritus of Aoyama Gakuin University and Specially Appointed Professor of Tokyo Metropolitan University) extensively discussed the current status of ESG evaluation and data, challenges faced by stakeholders in the appropriate provision and use of ESG evaluation and data, and future developments, and compiled the "Report of the Technical Committee for ESG Evaluation and Data Providers" on July 12, 2022.

In light of the report and the results of the consultation, the FSA published "The Code of Conduct for ESG Evaluation and Data Providers" (hereinafter referred to as the "Code of Conduct") on December 15, 2022.

Based on the Code of Conduct, the FSA publishes the list of ESG Evaluation and Data Providers (hereinafter referred to as "evaluation organizations, etc.") who have notified the FSA of their intention to endorse the Code of Conduct.

(Appendix)

excelList of ESG Evaluation and Data Providers that notified the FSA of their intention to endorse the "Code of Conduct for ESG Evaluation and Data Providers"

(The second sheet is the list highlighted the ESG Evaluation and Data Providers who newly announced their acceptance oh the Code and other updates.)

The statement of endorsement by evaluation organizations, etc. is described in the Code of Conduct as follows.

The FSA calls for ESG evaluation and data providers to endorse the Code of Conduct and, if it is endorsed, to publish it on their websites and notify the FSA of it. The FSA will publish the status of endorsement in a comprehensive manner around six month after the publication of the Code (with regard to the status of endorsement regarding data in the Code of Conduct, around further one year after the initial publication of the status of endorsement).


In addition, the Code of Conduct states the following regarding the manner in which evaluation organizations, etc. should express its endorsement.

The Code of Conduct is not laws or regulations that uniformly require actions of parties concerned, but designed to be a voluntary code on a "comply or explain" basis, where the FSA calls for organizations to express their support for the Code via public announcement, and the organizations supporting the Code will either comply with the principles and guidelines of the Code, or explain the reasons why they do not comply with a particular principle or guideline.
When implementing the principles or guidelines of the Code, it is important to provide easy-to-understand explanations so that readers can understand the specific status of compliance with each item of the principles and guidelines.

Please also refer to "Letter to CEOs of ESG Evaluation and Data Providers", which was published on December 15, 2022.

Those who newly intend to express their endorsement of the Code of Conduct are invited to notify the Sustainable Finance Office, Strategy Development Division, Strategy Development and Management Bureau at the FSA (sustainable-fin.esg@fsa.go.jp) of their intention as well as the information below.

  • Name of the evaluation organizations, etc. (in Japanese, if any):
  • Name of the evaluation organizations, etc. (in English):
  • Area(s) of endorsement (evaluation only/data only/evaluation and data):
  • Name of person(s) in charge (department/division)
  • Contact information (address, telephone number, or e-mail address)
  • The URL where the statement of endorsement is published:
  • The URL where specific compliance with each of the principles and guidelines of the Code of Conduct is made public:
Contact

Sustainable Finance Office, Strategy Development Division, Strategy Development and Management Bureau, Financial Services Agency

TEL: +81 -(0)3-3506-6000 (main) (Ext. 5521)

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