ClassNK Calculates Vessels’ CO2 Emissions For Sustainability-Linked Loan

Leading Classification Society ClassNK will calculate the CO2 emissions from the ships to be financed under the Sustainability-Linked Loan provided by ORIX Corporation (ORIX). The ship finance agreement signed between ORIX and a shipowner in Hong Kong is a sustainability-linked loan. A standard value is set for the annual CO2 emissions of the vessels to be financed, and if the annual CO2 emissions of the vessels after the loan has been granted is below the standard value, a preferential interest rate is given for the following year.

Oil/Chemical tanker ship loading in port, Tanker ship under cargo operation logistic import export business and transportation, Aerial view. — Representation Image

ClassNK will calculate the CO2 emissions of the vessels to ensure objectivity and fairness of the loan framework. Through its involvement as a third party in sustainable finance, which is progressing in maritime transportation, the society supports clients’ initiatives for the decarbonization of shipping*1.

*1 ClassNK provides the “Zero-Emission Transition Support Services”, which includes an assessment of carbon neutrality achievement, to support customers in dealing with the various challenges they may encounter when managing GHG emissions in pursuit of zero-emission shipping.

Press Release