Sustainable Finance

Latest Framework

Blue Bond (December 2023)
Sustainable Finance (January 2024)

Past Cases

Transition Bonds/Loans
Blue Bonds/Loans

Blue Bond (December 2023)

Blue Bond Framework

Blue Bond Framework[1.16MB]

Second-party Opinion

JCR Blue Bond Framework evaluation

Please refer to here for the latest appropriation status.

Sustainable Finance (January 2024)

Sustainable Finance Framework

Sustainable Finance Framework[1.89MB]

Second-party Opinion

DNV Sustainable Finance Framework evaluation

Transition Bonds/Loans

Transition Loan (December 2023)

Execution Date	December 20, 2023
Lender	Sumitomo Mitsui Banking Corporation
Use of funds	Construction of two LNG dual fueled coastal ferries
Rating agency	DNV Business Assurance Japan K.K.

* Adopted as Transition Finance Subsidy for global warming countermeasures promotion project of Japan's Ministry of Economy, Trade and Industry

Transition Loan (December 2023)

Execution Date	December 26, 2023
Lender	Sumitomo Mitsui Trust Bank, Limited
Use of funds	Construction of bulkship with Wind Challenger
Rating agency	DNV Business Assurance Japan K.K.

* Adopted as Transition Finance Subsidy for global warming countermeasures promotion project of Japan's Ministry of Economy, Trade and Industry

Transition Loan (December 2023)

Execution Date	December 26, 2023
Lender	The Bank of Yokohama, Ltd.
Use of funds	Construction of LNG dual fueled pure car and truck carrier
Rating agency	DNV Business Assurance Japan K.K.

Transition Linked Loan (December 2022)

Execution date	December 26, 2022
Lender	Sumitomo Mitsui Banking Corporation
Rating agency	DNV Business Assurance Japan K.K.
SPT	Annual EEOI target reduction rate to "achieve 45% reduction in the Energy Efficiency Operational Indicator (EEOI) by 2035" relative to a 2019 baseline.

Transition Linked Loan (March 2023)

Execution date	March 27, 2023
Lender	MUFG Bank, Ltd.
Rating agency	DNV Business Assurance Japan K.K.
SPT	Annual EEOI target reduction rate to "achieve 45% reduction in the Energy Efficiency Operational Indicator (EEOI) by 2035" relative to a 2019 baseline.

Transition Linked Loan (December 2023)

Execution date	December 26, 2023
Lender	The Bank of Yokohama, Ltd.
Rating agency	DNV Business Assurance Japan K.K.
SPT	Annual EEOI target reduction rate to "achieve 45% reduction in the Energy Efficiency Operational Indicator (EEOI) by 2035" relative to a 2019 baseline.

Transition Linked Loan (March 2024)

Execution date	March 28, 2024
Lender	Sumitomo Mitsui Trust Bank, Limited (Singapore Branch)
Rating agency	DNV Business Assurance Japan K.K.
SPT	Annual EEOI target reduction rate to "achieve 45% reduction in the Energy Efficiency Operational Indicator (EEOI) by 2035" relative to a 2019 baseline.

Transition Linked Loan (April 2024)

Execution date	April 25, 2024
Arrangers	Sumitomo Mitsui Trust Bank, Limited, Development Bank of Japan Inc., and SBI Shinsei Bank, Limited
Lender	The Senshu Ikeda Bank, Ltd., The Juhachi-Shinwa Bank, Ltd., The Joyo Bank, Ltd., Sumitomo Life Insurance Company, The Toho Bank, Ltd., The Development Bank of Japan Inc., The Hachijuni Bank, Ltd., North Pacific Bank, Ltd., The Hokuriku Bank, Ltd., The Hokkaido Bank, Ltd., Sumitomo Mitsui Trust Bank, Limited, The Musashino Bank, Ltd., Resona Bank, Limited, SBI Shinsei Bank, Limited
Rating agency	DNV Business Assurance Japan K.K.
SPT	Annual EEOI target reduction rate to "achieve 45% reduction in the Energy Efficiency Operational Indicator (EEOI) by 2035" relative to a 2019 baseline.

* Using the performance-based interest subsidy system based on Japan's Act on Strengthening Industrial Competitiveness.
The Minister of Land, Infrastructure, Transport and Tourism approved MOL's business adaptation plan.

Transition Linked Loan (September 2024)

Execution date	September 13, 2024
Lender	The Norinchukin Bank
Rating agency	DNV Business Assurance Japan K.K.
SPT	Annual EEOI target reduction rate to "achieve 45% reduction in the Energy Efficiency Operational Indicator (EEOI) by 2035" relative to a 2019 baseline.

Transition Linked Loan (July 2025)

Execution date	July 29, 2025
Lender	The Bank of Yokohama, Ltd., Chiba Bank, Ltd.
Rating agency	DNV Business Assurance Japan K.K.
SPT	Annual EEOI target reduction rate to "achieve 45% reduction in the Energy Efficiency Operational Indicator (EEOI) by 2035" relative to a 2019 baseline.

Blue Bonds/Loans

Funds allocation status and Environmental improvement effect for Blue Bonds as of January 2025(26th series unsecured corporate bonds)

Funds allocation report

All funds from bonds issue have been allocated for eligible projects as below.

Eligible Projects	Project Names	Amount(100 million yen)
Businesses relating to Offshore Wind Power Generation	Investment Participation in Formosa 1 Offshore Wind Power Generation in Taiwan	130
	Indirect Investment in Kitakyushu Hibikinada Offshore Wind Farm project
	Investment Participation in Odfjell Oceanwind AS
	Service Operation Vessel (SOV) for Project in Taiwan
Efficient Marine Vessel Operation	Introduction of Upgraded Propeller Boss Cap Fins	20
Efficient Marine Vessel Operation	Replacement of Propellers	20
Introduction of Ballast Water Treatment System		25
Introduction of SOx Scrubber		25
Total		200

Environmental impact report

Project Names	Impact reporting indicator
Investment Participation in Formosa 1 Offshore Wind Power Generation in Taiwan	Number of wind turbines installed	22 units
	Total output	128,000 kW
Indirect Investment in Kitakyushu Hibikinada Offshore Wind Farm project	Number of wind turbines to be installed	25 units
	Total output(planned)	220,000 kW
Investment Participation in Odfjell Oceanwind AS	Company overview	As noted *1 below
Service Operation Vessel (SOV) for Project in Taiwan	Number of SOV financed and entered into operations	1 vessel
Service Operation Vessel (SOV) for Project in Taiwan	Vessel specifications	As noted *2 below
Introduction of Upgraded Propeller Boss Cap Fins(PBCF)	Number of PBCF financed and entered into operations	68 vessels
Introduction of Upgraded Propeller Boss Cap Fins(PBCF)	Energy saving benefit	2.5%
Replacement of Propellers	Number of propeller financed and entered into operations	23 vessels
Replacement of Propellers	Energy saving benefit	4.0%
Introduction of Ballast Water Treatment System	Number of Ballast Water Treatment System financed and entered into operations	13 vessels
Introduction of Ballast Water Treatment System	Volume of treated ballast water	5,458,300mt/13 vessel total/year
Introduction of SOx Scrubber	Number of SOx Scrubber installed	10 vessels
Introduction of SOx Scrubber	SOx emission reduction	86%

*1 Odfjell Oceanwind AS was established in 2019 as a Norwegian company specializing in the development of floating offshore wind power facilities and project development. For more information：https://odfjelloceanwind.com/
The company engages in the development of floating offshore wind power facilities and offshore wind power generation projects. The main business models are as follows:
1. As a project operator, initiating and executing projects. Currently, we are considering projects mainly in the North Sea.
2. As a floating development company, providing floating facility design.
3. Supporting O&M and Project Management around the floating facilities.

*2 Flag: Taiwan
Length: 84.4m
Breath: 19.5m
Draft: 5.6m
Maximum Capacity: Approximately 90 Crews and Passengers
Main Features: Dynamic Positioning System (DPS), Motion Compensated Gangway System

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