Tokyo - March 10, 2023
Kawasaki Heavy Industries, Ltd. announced today that it has concluded a loan agreement ("the agreement") for positive impact finance (PIF) (with unspecified use of funds) with Asahi Mutual Life Insurance Company as part of its sustainable finance initiatives.
The agreement utilizes the Positive Impact Evaluation Framework ("the framework) provided by Sumitomo Mitsui Trust Bank, Limited ("SMTB") last December, and marks the third case in both the company and Japan to obtain individual loans from a financial institution other than the evaluator, SMTB.
By entering into loan agreements using the framework, it is possible to reduce the burden on both the lender and the borrower, as well as to avoid discontinuity and discrepancy between the company policy and its individual sustainable finance. We believe that this will greatly contribute to the expansion and development of sustainable finance not only in our company but also in Japan.
Kawasaki has set a sustainable finance target in the "Group Vision 2030" for 50% of long-term debt in FY 2030 and 100% in FY 2050". By utilizing this framework together with the Sustainability Linked Loan Framework Template established in last November, Kawasaki will accelerate its sustainability management initiatives to realize the "Group Vision 2030" and strengthen its engagement with stakeholders to contribute to the achievement of the SDGs and a sustainable society.
Kawasaki Heavy Industries Ltd. press release