MOL Set To Launch World’s First Blue Bonds In January 2024

In January 2024, Mitsui O.S.K. Lines, Ltd. will launch a public offering of “blue bonds” on the Japanese domestic market. Per the International Capital Markets Association (abbreviated the ICMA) and other organizations’ recommendations (Note 1), the bonds are the first blue bonds in the history of the maritime sector.

Based on its expectations that the bonds will have a positive environmental impact, the Japan Credit Rating Agency, Ltd. (popular as the JCR) presented them with the highest rating of “Blue1(F)” (Note 2), and the bonds were issued under the Blue Bond Framework, which will guarantee that all uses of the proceeds will support a sustainable blue economy.

Blue Bonds
Image Credits: MOL

A blue bond is a kind of green bond that is only intended to be used for projects about sustainable marine resources, avoiding the occurrence of marine pollution and other related issues. Blue bonds are intended to fund green initiatives that address environmental issues.

Marine and global environmental conservation is one of MOL’s sustainability challenges (materiality), and the company has positioned its sustainable development strategy as a fundamental component of its group management plan, “BLUE ACTION 2035,” which was developed this year.

The corporation decided to invest 650 billion yen over three years, from FY2023 to FY2025, to address environmental challenges. Blue bonds will be used to raise money to pay for these projects.

Reference: Hellenic Shipping News

Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Do you have info to share with us ? Suggest a correction

About Author

Marine Insight News Network is a premier source for up-to-date, comprehensive, and insightful coverage of the maritime industry. Dedicated to offering the latest news, trends, and analyses in shipping, marine technology, regulations, and global maritime affairs, Marine Insight News Network prides itself on delivering accurate, engaging, and relevant information.

About Author

Marine Insight News Network is a premier source for up-to-date, comprehensive, and insightful coverage of the maritime industry. Dedicated to offering the latest news, trends, and analyses in shipping, marine technology, regulations, and global maritime affairs, Marine Insight News Network prides itself on delivering accurate, engaging, and relevant information.

By subscribing, you agree to our Privacy Policy and may receive occasional deal communications; you can unsubscribe anytime.

BE THE FIRST TO COMMENT

Leave a Reply

Your email address will not be published. Required fields are marked *