IHI Concludes Transition Loan Agreement with Resona Bank, Limited.
IHI announces today that it recently concluded a transition loan agreement with Resona Bank, Limited. IHI formulated a Sustainable Finance Framework for this loan in September this year. This loan is a finance scheme designed to support companies that are implementing steady GHG reduction efforts in accordance with long-term strategies towards achieving a decarbonized society.
IHI will leverage the loan to undertake new investments or refinancing for 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 efforts will include investing in clean energy, focusing on ammonia, and in aero engines and rockets, primarily to lighten aircraft and electrify their aircraft 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 growth areas based on Group Management Policies 2023 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/