Open Access

Maya Heins

• PURPOSE: This theoretical study seeks to understand how the development of ‘Transnational Business Feminism’ in response to the 2008 financial crisis, was implemented in 2013 through Japan’s ‘Womenomics’ program. The paper further examines how efficient this said form of neoliberal feminist economic program was in in addressing vulnerabilities in the Japanese financial system during the ongoing Covid-19 pandemic. Finally, it looks at how the pandemic has shifted conversations around the future of gender and finance in Japan through the Environmental, Social and Governance (ESG) framework. DESIGN/METHOD: Drawing on a variety of sources, this paper uses a case study research methodology as well as statistical data from a variety of sources to draw theoretical conclusions on the specific case of Japan’s economy. RESULTS/FINDINGS: This paper reveals that the programs implemented by the Japanese government failed to address existing gender inequalities and systemic risk in the Japanese economy, and that women in Japan were hit much harder by the repercussions of the pandemic, in spite of Womenomics policies. ORIGINALITY/VALUE: This study offers insights into the effectiveness of neoliberal feminist agendas in addressing systemic financial and economic risk, in order to help optimize the potential of ESG.