IHI Concludes Green Loan Agreement with Mizuho Bank
IHI announces today that it recently concluded a green loan agreement with Mizuho Bank, Ltd. Such loans enable financial institutions to fund corporate efforts to transform their businesses to resolve or mitigate environmental issues in accordance with Green Loan Principles*.
IHI will leverage the loan to invest in or refinance green projects that it has designated under its framework in stepping up ESG management under Group Management Policies 2023, which it announced in May last year. These include electrifying aero engines and automobiles, developing sustainable aviation fuels, and reducing emissions from business activities.
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.
* Green Loan Principles (GLP)
Formulated by the Loan Market Association and Asia Pacific Loan Market Association in March 2018 to serve as international guidelines for loans whose proceeds are to be used only for Green Projects.
In December 2018, the Loan Syndications and Trading Association also adopted the GLP.
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