Just a decade ago, impact investing was barely on Japan's radar. Today, it's a multi-trillion yen movement — thanks in part to the bold shift of Japan's largest public pension fund, which signaled a new era for responsible investing. In this episode of Women Changing Finance, host Krisztina Tora speaks with Nanako Kudo, Executive Director of the Japan Social Innovation and Investment Foundation (SIIF), about Japan's remarkable impact journey. Nanako shares how government, startups, big corporates, and even ordinary citizens are coming together to build a more inclusive, sustainable economy. We explore real-world stories — from AI-powered career services for vulnerable workers, to department stores driving the circular economy, to public equity funds that get everyday people invest in companies doing good. Nanako also reflects on her own path: from a childhood dream of working at the UN, to becoming a pioneer in Japan's impact finance landscape. With wisdom, vision, and a deep belief in collective action, she reminds us that system change is never linear — and that joy can be found in the everyday moments of building something better. Please review the episode, share your feedback and subscribe to the podcast! You can also: * Visit our website: womenchangingfinance.org [https://womenchangingfinance.org/] * Follow Nanako on Linkedin [https://www.linkedin.com/in/nanako-kudo-66557318/?originalSubdomain=jp] To go further here are some of the references mentioned during the episode: * Japan Social Innovation and Investment Foundation (SIIF)  [https://www.siif.or.jp/en/] * G8 Taskforce for Social Impact Investment (2013)  [https://www.gov.uk/government/groups/social-impact-investment-taskforce] * Government Pension Investment Fund [https://www.gpif.go.jp/en/] (GPIF) * Principles for Responsible Investment [https://www.unpri.org/] * GSG Impact Japan [https://impactinvestment.jp/en/index.html] * Impact Market Size in Japan [https://impactinvestment.jp/en/impact-investing/market.html] *  Impact Startup Association  [https://impact-startup.or.jp/en] * B Corps in Japan [https://www.bcorpasia.org/japan] * Marui Group  [https://www.0101maruigroup.co.jp/en/] * Acumen [https://acumen.org/] * Nippon Foundation  [https://www.nippon-foundation.or.jp/en] * Rockefeller Foundation  [https://www.rockefellerfoundation.org/] * Japan Financial Services Agency Impact Consortium https://www.fsa.go.jp/en/news/2023/20231122.htmland https://impact-consortium.fsa.go.jp/en/ * Better Society Capital  [https://bettersocietycapital.com/] * JANPIA (Japan Impact Wholesaler)  [https://www.janpia.or.jp/en/] * About Impact Wholesalers [https://www.gsgimpact.org/resources/publications-and-reports/impact-investment-wholesalers-and-fund-of-funds-design-insights-from-the-gsg-impact-partnership/] * Japan in the Gender Gap Report  [https://www.nippon.com/en/japan-data/h02024/] *  Global Gender Gap Report by the WEF  [https://www3.weforum.org/docs/WEF_GGGR_2024.pdf] * Theory U  [https://www.u-school.org/theory-u]