Searches and Hires

Japan’s GPIF launches search for global ESG stock index providers

Japan's ¥156.8 trillion ($1.4 trillion) Government Pension Investment Fund is searching for global stock index providers that take environmental, social and governance factors into account.

The deadline for proposals is Jan. 31. A news release in Japanese on the fund's website said GPIF may select more than one index.

The call for global ESG indexes follows GPIF's July 2016 RFP for designers of ESG indexes for domestic stocks.

The fund selected three indexes in July 2017, and pledged to make an initial allocation to those indexes of 3% of a domestic equity allocation that stood at ¥38.2 billion as of Sept. 30, with more to come later.

GPIF is looking for firms that have significant ESG data and index construction experience and capabilities, with offices in Japan and the ability to systematically field inquiries from companies and the press alike about index methodologies.

Details on the application process can be found, in Japanese now and in English as early as next week, on the GPIF website. Inquiries can be directed to chosa@gpif.go.jp.