Leading in extraordinary times with Hiro Mizuno
Hiro Mizuno was Chief Investment Officer of Japan’s $1.6 trillion Government Pension Investment Fund, the largest in the world. He has been the foremost leader in incorporating sustainability into investment decision making and the driving force behind the Partnership for Sustainable Capital Markets.
He joined Dean Peter Tufano to discuss long-term thinking, sustainability and social factors in investment decisions.
Summary
Getting the world's largest pension fund to adopt environmental, social, and governance (ESG) criteria wasn't enough for Hiro Mizuno – he persuaded several other asset management firms to follow suit, as a change to the system.
While former Chief Investment Officer of Japan's Government Investment Pension Fund (GIPF), which manages assets worth around $1.6 trillion globally, he analysed that the global economy accounts for almost all of asset management companies' performance. But when he tried to introduce global ESG criteria, over and above maximising profit, he encountered objections from investors.
He framed ESG as a way of mitigating risks, to encourage adoption from skeptical investors. He also worked with non-financial press to raise awareness within society and build further momentum. He shared his experiences with a global audience as part of the Leadership in Extraordinary Times series, chaired by Peter Tufano, Dean of Saïd Business School.
