IHI Concludes Transition Loan Agreement with Sumitomo Mitsui Trust Bank
IHI announces today that it recently concluded a transition loan agreement with Sumitomo Mitsui Trust Bank, Limited. Such loans support the efforts of companies exploring measures to tackle climate change risks and striving to reduce carbon dioxide emissions in line with long-term strategies to transition to a decarbonized, low-carbon economy. IHI is underpinning those efforts by leveraging a Sustainable Finance Framework that it formulated in September this year.
IHI will leverage the loan to invest in projects that it designated under the framework in stepping up ESG management in keeping with Group Management Policies 2023, which it announced in May this year. These include investing in clean energy, focusing on ammonia, and in aero engines and rockets, primarily to lighten aircraft and electrify their engines.
In line with its management philosophies, which emphasize contributing to the development of society through technology and that human resources are its single most valuable asset, and the IHI Group ESG Management policy, the IHI Group has made mitigating and adapting to environmental change a top management priority.
IHI will use funds from this loan to shift management resources to clean energy, aero engines, and rockets as development and growth areas to become a sustainable, high-growth company.
Reference links
IHI Sustainable Finance Framework
https://www.ihi.co.jp/en/sustainable/finance/i/231012_framework.pdf
Group Management Policies 2023
https://www.ihi.co.jp/en/ir/management/management_plan/
IHI Group ESG Management
https://www.ihi.co.jp/en/sustainable/esg/