|
Accelerating Environmental Investment to Achieve Net-zero GHG Emissions by 2050 Tokyo - April 25, 2024
The Minister of Land, Infrastructure, Transport and Tourism approved MOL's business adaptation plan on March 28. MOL is the first Japanese shipping company to make use of this system. This loan is the seventh round of financing using the Sustainable Finance Framework MOL established in January of this year. The company will address environmental issues along with its stakeholders by continuously implementing sustainable finance and accelerating environmental investments based on this framework in future fundraising as well. In addition, it obtained a second-party opinion on the eligibility of the Framework from DNV Business Assurance Japan K.K. ("DNV") on December 22, 2023, to ensure the eligibility and transparency of the Framework. The MOL Group has positioned environmental strategy as a key element of its group management plan "BLUE ACTION 2035" established last year, and has set "conservation for marine and global environment" as one of its Sustainability Issues (Materiality). The group is committed to solving environmental issues through co-creation with stakeholders with the aim of achieving "Net zero greenhouse gas (GHG) emissions by 2050." Outline of Syndicated Transition Linked Loan 
Transition-linked loans are a financing method that takes into account changes in loan characteristics (interest rates, etc.) based on the status of achievement of GHG reduction targets that MOL has set (or will set) in advance. (Note 2) Performance-based Interest Subsidy System: This is part of the financial support program to promote transitions toward carbon neutrality under the jurisdiction of Japan's Ministry of Economy, Trade and Industry (METI). Mitsui O.S.K. Lines, Ltd. press release 
|
