(MENAFN- JCN NewsWire) MHI to Issue its First Transition Bond
Move Will Help Achieve Company's 'Net Zero' by 2040, Toward Realizing a Carbon Neutral World
- MHI's first transition bond was selected as a model example for 2021 Climate Transition Finance Model Projects of Ministry of Economy, Trade and Industry
- Based on the selected model, MHI is planning to issue Transition Bond via public offering in the domestic market for funding projects related to the achievement of Carbon Neutrality
- As a leading company in decarbonization area with extensive track record and efforts towards advanced technologies, MHI is accelerating the promotion of projects contributing to Carbon Neutrality of Japan and the world
TOKYO, Aug 05, 2022 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) today submitted a revised shelf registration statement to the Kanto Local Finance Bureau in preparation for planned issuance of a transition bond in the Japanese market. The issuance will be undertaken to raise funds for allocation to diverse initiatives toward achieving carbon neutrality.
The planned issuance is based on MHI's selection as a model example of the '2021 Climate Transition Finance Model Projects' being supported by the Ministry of Economy, Trade and Industry (METI), as announced in the Company's press release of March 18, 2022. One of the unique features of this model example is that MHI not only plans to achieve emission reduction from the economic activities of itself but also attempts to enable the realization of transition strategies of other parties through its products and services. Through issuance of its first transition bond, MHI looks to diversify its fund procurement methods and achieve its target of carbon neutrality by 2040.
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