Since [its] launch...FTSE’s RI Unit has entered into dialogue with many companies regarding the FTSE4Good inclusion criteria...One...country that presented FTSE with...challenging corporate engagement was Japan...[T]he debate relating to ESG and investment in Japan started over two decades ago...[with the] Val Study Group...the group decided to create a sample ‘green portfolio’...[M]any companies welcomed this initiative as it coincided with new environmental disclosure requirements...[T]here was...weakness in transparency around social practices such as employee labour standards, relations with local stakeholders and anti-bribery measures. This was magnified by...Japanese companies[‘]...increasing their global presence...[O]ver time the transparency around their policies and systems, as well as alignment with international standards such as the ILO conventions, began to improve... By 2009, the number of Japanese companies in the index that had improved their human and labour rights and introduced anti-bribery practices exceeded that of any other country in the index...