TOKYO : Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) has announced a plan to issue green bonds (its 20th and 21st series unsecured corporate bonds) through a public offering in Japan’s domestic market. It also announced the acquisition of a second opinion from a third-party institute.
Green bonds are used to raise funds for businesses aimed at protecting and improving the environment. MOL established the MOL Group Environmental Vision 2030 in April 2017, and designated environment-related and emission-free businesses as core activities in its “Rolling Plan 2018” management plan. The MOL Group also views responses to stricter environmental regulations and activities to reduce its environmental impact as opportunities to create new businesses and diversify its business portfolio, and address new challenges in technical innovation. To foster a deeper understandings of the MOL Group’s proactive initiatives on the environment among a wide range of stakeholders, the bonds are targeted to both institutional and individual investors. This is the first time a company in Japan has issued green bonds aimed at individual investors, said a MOL release.