MOL Earns High Rating as 1st Company to Receive SMBC Sustainability Assessment Loan
May 02, 2013
TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced that the company has received an SMBC Sustainability Assessment Loan from Sumitomo Mitsui Banking Corporation (SMBC), based on a superior evaluation of its environmental, social, and corporate governance activities.
SMBC Sustainability Assessment Loans evaluate corporate actions such as disclosure of environmental, social, and governance (ESG) information, all of which require companies to take a careful and responsible approach to developing business activities, and initiatives on sustainability, based on unique assessment criteria developed by Sumitomo Mitsui Banking Corporation and Japan Research Institute, Limited, and sets loan conditions according to the results of the evaluation.
The term "sustainability" is used in various situations from global society to corporate activities. In general, corporate sustainability refers to corporate initiatives that are essential to earning the trust of society and ensuring long-term business success while protecting the global environment and contributing to sustainable worldwide growth.
MOL won specific praise for timely and accurate disclosure of ESG issues and for its initiatives on sustainability, especially on the following three items: "Reduction of the environmental burden in business activities," "Caring for the global community," and "CSR management."
- Reduction of the environmental burden in business activities
MOL has stepped up development of vessels that will significantly reduce the CO2 emissions resulting from its activities through the Senpaku ISHIN project, in which MOL is designing next-generation vessels. In June 2012, MOL launched a car carrier equipped with a hybrid power supply system that combines solar power generation with lithium-ion batteries, and is preparing to launch a very large iron ore carrier and a Cape-size bulker, both featuring high-efficiency waste heat energy recovery systems.
- Caring for the global community
MOL's efforts to address societal issues in the global community include participation in a United Nations Development Programme (UNDP) initiative to support Somalia with the aim of combating piracy and creating a more stable society. In addition, the company continues to forge ahead to become the world leader in safe operation.
- CSR management
MOL formulated CSR targets based on its midterm management plan. In the containership segment, it established a service index based on key performance indicators (KPIs) and focuses on improving transport service quality. In this way, the company demonstrates its commitment to achieving its targets as it periodically monitors its progress and discloses its performance.
MOL consistently takes a proactive stance in disclosure of ESG information and initiatives on sustainability, with the aim of achieving deeper understanding and higher trust among the financial community and other stakeholders.
In fulfilling its mission as an ocean shipping company - supporting both communities and industries - MOL positions social responsibility as a top priority by maintaining the highest standards of safe operation and contributing to global environmental protection.