A blue bond is a type of green bond issued to finance green projects aiming at solving environmental problems with proceeds limited to projects related to the prevention of marine pollution, and sustainable marine resources.
The Japanese shipping company plans to issue JPY10 billion ($70.3 million) with a tenure of five years.
The bonds received the highest rating of “Blue1(F)” from the Japan Credit Rating Agency (JCR) based on its expectation that they will have a positive environmental impact.
MOL has positioned its environmental strategy as a key element of its group management plan “BLUE ACTION 2035,” established this year, and set “marine and global environmental conservation” as one of its sustainability issues.
The company set a total of $4.5 billion (JPY650 billion) to be invested in resolving environmental issues over the three-year period from FY2023 to FY2025. It will raise funds through blue bonds to finance these initiatives.
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