In March this year, the Financial Services Agency established the "Working Group on Social Bonds" under the Expert Panel on the Sustainable Finance. The Working Group discussed the practical guidelines for Social Bonds which can be used as reference when considering specific measures regarding Social Bonds issued by ordinary companies in the private sector. Based on these discussions, the "Social Bond Guidelines (Draft)" were created by the Financial Services Agency.
Subsequently, public comments were invited from Wednesday, 7 July to Friday, 10 August, 2021 (English translation: Wednesday, 21 July to Friday, 20 August). As a result, we received comments from 12 individuals, organizations and overseas organizations. We would like to thank all those who have submitted their comments for their cooperation.
Please refer to Attachment 3 for comments submitted and the responses to them (only Japanese available), and Attachment 4 for the comments received from international related parties and the responses to them.
Based on these comments, the "Social Bond Guidelines" were finalized. The English translation of the Guidelines is published (see Attachment 1).
（Attachment 1）
Social Bond Guidelines (English translation)（Attachment 2）
Summary of the Social Bond Guidelines (English translation)（Attachment 3）
Comments received on the Draft Social Bond Principles and the responses to them (only Japanese available)（Attachment 4）
Comments received from international related parties on the Draft Social Bond Principles and the responses to them
