The Efforts of the West to Tackle the Sustainability Issue are Like Polishing the Floors on the Titanic

 Evaluation of a company’s performance in the sphere of ESG is particularly complicated when it comes to those operating in the finance industry. As Sasja Beslik of SDG Impact Japan explains, what’s needed is a framework on which to base assessments, so that investors have a clear view of exactly what they are investing in.

Sasja Beslik is a prominent figure and a pioneer known for promoting financial sustainability across the world. He left his role (after only six months) as head of sustainability at Danish pension fund PFA to join Japanese sustainable finance platform SDG Impact Japan (SIJ).

Sasja, who left his role as head of sustainable business development at Bank J. Safra lesbianlesbian sex Sarasin in September to join PFA, previously held a number of senior sustainability roles, including head of sustainable finance at Nordea Wealth Management, and head of stewardship and engagement at ABN Amro. 

Sasja Beslik is the co-author of Where the Money Tree Grows (2021), and the author of the weekly newsletter “ESG on a Sunday”.

It’s a pleasure to speak with you again, Mr Beslik! Can we start this off by asking what ESG means to you personally, and then also within the context of SDG Impact Japan?

Environmental, social, and governance issues (ESG) is an additive to fundamental financial theory on how to evaluate companies. For me personally, it is an evolution of the existing financial system, in the way that you assess companies not only on the basis of financial returns and financial figures, but you actually assess companies on the basis of additional financial figures, which are related to how these companies manage ESG issues which are relevant for their business. For me, ESG is an evolutionary approach to financial investments.

Making the transition from Danish pensions to Japanese SMEs is an interesting career choice. What made you pursue an active role in this industry?

I  was advising Danish pensions for a short period of time on how to best develop sustainable lifecycle products in accordance with the European SFDR regulations. The reason I took this decision is that I have been working in this industry for a very long time. I think Japan represents a great opportunity especially for sustainable ESG investments, because many Japanese listed companies are undervalued from both financial and ESG perspectives. I think there is a great opportunity to unlock the value in such a large market as Japan.

I have visited Japan and have been investing in emerging markets, including Asia, and I think there are many ways you can provide a new benchmark for a new ESG investment approach, which I think is what we are trying to do right now. There are a lot of opportunities in Japan and, for me, it was almost like a natural step from doing this after 23+ years in Europe, so I wanted to try to do it outside the European context.

You’ve mentioned before how Japan was an opportunity you “simply did not want to miss”. What particular aspects of the Japanese market – especially in relation to ESG – appealed to you?