Mitsui Chemicals Concludes Mizuho Eco Finance Loan Agreement With Mizuho Bank
Company assessed on efforts toward supply-chain-wide decarbonization
2024.02.27
Mitsui Chemicals, Inc.
Mitsui Chemicals, Inc. (Tokyo: 4183; President & CEO: HASHIMOTO Osamu) today announced that it has concluded an agreement for Mizuho Eco Finance, a syndicated environmental-assessment-based loan arranged by Mizuho Bank, Ltd. (Tokyo; President & CEO: KATO Masahiko).
Mizuho Eco Finance is an environmental-assessment-based financial product aimed at working with companies to promote initiatives for a decarbonized society. An environmental assessment model developed by Mizuho Research & Technologies, Ltd. is used to score companies on their initiatives and on various indexes, with those that achieve a certain score or above being allowed to proceed with a loan agreement.
Mitsui Chemicals was found to meet a high standard in the indexes used by the assessment model, with the company having, among other initiatives, declared its support for the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) in January 2019; formulated the Climate Change Policy that it is leveraging to reduce greenhouse gas emissions throughout its entire supply chain; and continued to calculate and disclose its volume of greenhouse gas emissions each fiscal year to mark its progress. This strong performance in the assessment opened the path for the company to conclude a loan agreement for Mizuho Eco Finance.
■ Overview of the Syndicated loan
Contract conclusion date | February 27, 2024 |
|---|---|
Arranger | Mizuho Bank, Ltd. |
Amount | 20 billion yen |
Lenders | 14 domestic financial institutions |
Recognizing that the chemical industry shoulders the foundations of society and innovation – and as such has a major responsibility to work toward a sustainable society – the Mitsui Chemicals Group is actively endeavoring to employ ESG criteria within its management and strategies. To realize its aim of creating a circular society in harmony with the environment, an inclusive society creating diverse value and a comfortable society in which people can enjoy healthy lives and well-being, Mitsui Chemicals is deepening its efforts to create social value. This includes providing Blue Value™ products and services, which are aimed at contributing to the environment, and Rose Value™ products and services, which serve to improve quality of life (QOL).*
■ For more information on the Mitsui Chemicals Group’s ESG initiatives, please see “Sustainability” (Mitsui Chemicals Group ESG Report 2023) on the company’s official website.
* Blue Value™ Environmental Contributions and Rose Value™ QOL Improvement Contributions https://jp.mitsuichemicals.com/en/sustainability/mci_sustainability/contribution_value/index.htm
Our Blue Value™ and Rose Value™ help visualize the contributions our products and services make to the environment and society and enable us to share those values with stakeholders. We evaluate our products and services that make significant contributions to the environment or improvements to QOL and certify them as Blue Value™ and Rose Value™ products respectively by checking application-specific contributions at each stage of the product life cycle.
