Norges Bank Investment Management Urges Alignment of Japan’s Sustainability Disclosure Standards with Global ISSB Guidelines

Norges Bank Investment Management (NBIM), the investment arm of the Norwegian Central Bank, has submitted a letter to the Sustainability Standards Board of Japan (SSBJ) advocating for enhanced alignment between Japan’s sustainability disclosure standards and the global framework established by the International Sustainability Standards Board (ISSB). The letter, dated July 31, 2024, emphasizes the critical importance of consistent, comparable, and reliable information for long-term investment decisions. NBIM, which manages the Norwegian Government Pension Fund Global with assets totaling ¥215,031 billion at the end of 2023, including ¥10,793 billion invested in Japanese companies, highlighted the need for Japan to closely follow the ISSB’s global baseline standards, specifically IFRS S1 and S2. “We strongly support the ISSB and its mission to deliver a global baseline of disclosure standards that provide decision-useful information to investors,” NBIM stated, underscoring the importance of global comparability in sustainability disclosures.

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