IHI Concludes Syndicated Transition Loan Agreement arranged by Sumitomo Mitsui Trust Bank
IHI announces today that it recently concluded a syndicated transition loan agreement arranged by Sumitomo Mitsui Trust Bank, Limited, based on the Sustainable Finance Framework that the company formulated in September 2023.
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 will harness these loans to newly invest in or refinance projects that it has designated under its framework. Efforts include investing in aero engines and space, primarily to weight reduction of aircraft and electrification of their aircraft engines, and in clean energy, focusing on ammonia.
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 Group ESG Management
https://www.ihi.co.jp/en/sustainable/esg/
Group Management Policies 2023
https://www.ihi.co.jp/en/ir/management/management_plan/
IHI Sustainable Finance Framework
https://www.ihi.co.jp/en/sustainable/finance/i/231012_framework.pdf