Impact Policy Tracker Policy

Impact Consortium



The Impact Consortium was created in 2023 by Japan’s Financial Services Agency (FSA), the financial regulator, as a public-private platform to promote impact investing, not only among dedicated impact investors and enterprises, but also across mainstream financial stakeholders. It connects domestic and global leaders to foster collaboration, share best practices, showcase case studies, and build consensus around frameworks for impact measurement and management. Its membership spans a diverse range of actors, including listed companies, start-ups, financial institutions, investors, and local governments.



Highlights

  • Thematic subcommittees: the Consortium member organisations regularly meet through four different subcommittees (SC). The Data & Indicators SC develops and promotes standardised, globally aligned methodologies and indicators for impact measurement and management across sectors; the Market Research & Development SC analyses trends, identifies ecosystem gaps, and proposes innovative financial mechanisms to expand Japan’s impact investment market; the Regional & Practical Initiatives SC supports local actors and showcases community-level impact initiatives to drive practical experimentation and regional innovation; the Public-Private Collaboration SC facilitates dialogue between government and private stakeholders to address policy barriers and co-create enabling frameworks for impact.

  • Key role of GSG Impact’s National Partner in Japan: The Japan NP played an instrumental role in shaping the Consortium, with its Chair serving as Vice-Chair of the Steering Committee. Through its secretariat organisation, the Social Innovation and Investment Foundation (SIIF), it also leads the Regional & Practical Initiative SC, bringing expert knowledge, case studies, and a strong regional and global network to each meeting.

Government’s Role:
Market Facilitator


Country:
Japan

Policy Type:
Dedicated Government Agencies and Offices

Year: 2023

Responsible Institution:
Financial Services Agency (FSA), Ministry of Trade, Economy and Industry

Contact Person:
For further details on the case study and GSG NP's role, please contact Michiru Toda at toda.michiru@siif.or.jp

Dedicated Government Agencies and Offices

What are Dedicated Government Agencies Supporting the Impact Economy?

Governments seeking to foster impact economies -whether through social investment, support for social enterprises, or broader ecosystem development- have established dedicated agencies or units with a clear and sustained mandate. These bodies are typically responsible for implementing and overseeing programmes that drive impact investment and support the wider development of the impact economy.

While their specific focus may vary from country to country -from promoting social enterprises and cooperatives in South Korea to strengthening the social investment markets in the UK and New Zealand- these units enable coordination across different government offices. Beyond their operational roles, these agencies serve as policy anchors, ensuring continuity of the impact economy agenda beyond electoral cycles and enabling long-term public–private collaboration. They also act as conveners and knowledge hubs, facilitating cross-sector learning and coordination between government, civil society, and the private sector.