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Sustainable Finance
Latest Framework
Past Cases
Blue Bond (December 2023)
Blue Bond Framework
Second-party Opinion
Please refer to here for the latest appropriation status.
Sustainable Finance (January 2024)
Sustainable Finance Framework
Second-party Opinion
Green Bonds/Loans
Green Loan (December 2019)
| Execution date | December 19, 2019 |
|---|---|
| Lenders | BNP Paribas, The Export-Import Bank of China |
| Green structuring advisor | BNP Paribas |
| Use of funds | LNG bunkering vessel |
| Rating agency | Vigeo Eiris (Second Party Opinion) |
Sustainability Bonds/Loans
Fund allocation status and environmental improvement effect of Sustainability Bonds as of the end of March 2020 (22nd, 23rd and 24th series unsecured corporate bonds)
Fund allocation report
All funds, totaling ¥20 billion, from the bond issue have been allocated for eligible projects as below.
| Sub-groups | Projects categories | Amount(100 million yen) |
|---|---|---|
| Social-Related | Establishment of Philippine University of Merchant Shipping | 44 |
| Workplace Reform | 2 | |
| Regulation response | Ballast Water Treatment System | 40 |
| SOx Scrubber | 92 | |
| LNG related | LNG Bunkering Vessels | 20 |
| LNG-fueled Vessels(Tugboat) | 1 | |
| Upgraded PBCF and Wind Challenger Project | Upgraded Propeller Boss Cap Fins | 1 |
| Wind Challenger Project | 0 | |
| Total | 200 | |
Environmental impact report
| Projects categories | Reporting indicator | |
|---|---|---|
| Establishment of Philippine University of Merchant Shipping | Quantitative indicators such as the number of students and graduates, and qualitative effects |
|
| Workplace Reform | Questionnaire survey for pilot office residents*1 | Productivity: 15% increase Ease of dialogue: 7% increase Creativity: 3% increase As shown above, the degree of satisfaction with indicators related to work efficiency and job satisfaction has improved. |
| Behavioral survey using sensors*2 | Regarding employees at the pilot office: Own seat: 16% decrease Meeting room: 6% decrease Common area: 15% increase Concentrated seats: 9% increase As described above, we have checked the working environment situation. |
|
| Introduction of universal design toilet | Completed in June 2019. Improves the ease of access for people with difficulties, such as those with disabilities, pregnant women, etc. | |
| Ballast Water Treatment System | Number of Ballast Water Treatment System installed | 34 vessels |
| Volume of treated ballast water | 6,999,200mt/34 vessels total/year |
|
| SOx Scrubber | Number of systems installed | 17 vessels |
| SOx emission reduction | 86% | |
| LNG Bunkering Vessels | Number of LBVs financed and entered into operations | Under construction |
| LNG-fueled Vessels(Tugboat) | Number of LNG-fueled Vessels financed and entered into operations | 1 vessel |
| GHG emission | 1,248mt/vessel/year | |
| GHG emission reduction | 15% | |
| CO2 emission reduction | 25% | |
| NOx emission reduction | 80% | |
| SOx emission reduction | 99% | |
| Upgraded Propeller Boss Cap Fins | Number of PBCF financed and entered into operations | 14 vessels |
| Energy saving effect | 5% | |
| Avoided GHG emissions | 16,528mt/14 vessels total/year | |
| CO2 emission reduction | 5% | |
| NOx emission reduction | 5% | |
| SOx emission reduction | 5% | |
| Wind Challenger Project | Number of Wind Challenger financed and entered into operations | N/A |
| Future plans | Aiming to launch a newbuilding vessel equipped with a hard sail by fiscal year 2022. That would reduce the vessel's GHG emissions by about 5% on a Japan-Australia voyage, and by about 8% on a Japan-North America West Coast voyage. | |
*1 In April 2019 before moving in, and in September 2019, four months after moving in, we conducted a satisfaction survey of employees at the pilot office regarding "Productivity," "Ease of dialogue," and "Creativity."
*2 From April 19 to May 19 before moving in and from July 19 to September 19 after moving in, we conducted a behavioral survey of all employees working at the Head Office.
Transition Bonds/Loans
Transition Loan (September 2021)
| Execution Date | September 9, 2021 |
|---|---|
| Arrangers | Development Bank of Japan Inc. and Sumitomo Mitsui Trust Bank, Limited. |
| Co-arrangers | Sumitomo Mitsui Banking Corporation |
| Lenders | Development Bank of Japan Inc., Sumitomo Mitsui Trust Bank, Limited. Sumitomo Mitsui Banking Corporation, The Yamaguchi Bank, Ltd., The Higo Bank, Ltd., The Oita Bank, Ltd., The Kitakyushu Bank, Ltd., The Bank of Yokohama, Ltd., The San-in Godo Bank, Ltd., The Hiroshima Bank, Ltd., The Iyo Bank, Ltd., The Ehime Bank, Ltd. and The Bank of Kyoto, Ltd. |
| Use of funds | Construction of two LNG-fueled coastal ferries |
| Rating agency | Japan Credit Rating Agency, Ltd. (Second Party Opinion) |
* Adopted as a Climate Transition Finance Model project of Japan's Ministry of Economy, Trade and Industry
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 (November 2021)
| Execution date | November 1, 2021 |
|---|---|
| Mandated lead arranger | Société Générale |
| Lead arranger | Sumitomo Mitsui Banking Corporation |
| Lenders | Société Générale and Sumitomo Mitsui Banking Corporation |
| Co-sustainability coordinators | Société Générale and Sumitomo Mitsui Banking Corporation |
| Rating agency | DNV Business Assurance Japan K.K. (Second Party Opinion) |
| 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 (October 2022)
| Execution date | October 7, 2022 |
|---|---|
| Lender | Sumitomo Mitsui Banking Corporation |
| Rating agency | DNV Business Assurance Japan K.K. (Second Party Opinion) |
| 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 (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. |
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 |
| Replacement of Propellers | ||
| 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 |
| Vessel specifications | As noted *2 below | |
| Introduction of Upgraded Propeller Boss Cap Fins(PBCF) | Number of PBCF financed and entered into operations | 68 vessels |
| Energy saving benefit | 2.5% | |
| Replacement of Propellers | Number of propeller financed and entered into operations | 23 vessels |
| Energy saving benefit | 4.0% | |
| Introduction of Ballast Water Treatment System | Number of Ballast Water Treatment System financed and entered into operations | 13 vessels |
| Volume of treated ballast water | 5,458,300mt/13 vessel total/year | |
| Introduction of SOx Scrubber | Number of SOx Scrubber installed | 10 vessels |
| 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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