IHI Concludes Mizuho Eco Finance Agreement with Mizuho Bank
IHI Corporation announced today that it recently concluded its a Mizuho Eco Finance agreement with Mizuho Bank, Ltd. This loan is an environmental assessment-based financial product through which the bank collaborates with clients to transition to a low-carbon economy.
Financing under this program goes to companies meeting or exceeding decarbonization scores under an environmental assessment model that Mizuho Research & Technologies, Ltd., developed. The model rates client initiatives and benchmarks based on globally trusted environmental accreditation and assessment criteria.
Mizuho Bank concluded that the IHI Group satisfies the model’s high standards in several respects. One is IHI Group’s ESG Management, announced in November 2021. Under that initiative, IHI committed itself to achieving carbon neutrality across its entire value chain by 2050. Another is the commitment that the company announced in April 2023 to halve its fiscal 2019 Scope 1 and 2 greenhouse gas emissions by fiscal 2030. IHI also discloses groupwide carbon dioxide emissions every year.
The IHI Group will keep prioritizing efforts to engage with society and other stakeholders and achieve its ESG management goals. It will also accelerate initiatives to reform its corporate structure so it can mitigate and adapt to climate change, a key challenge under Group Management Policies 2023.
Related links
About Mizuho Eco Finance
News release from Mizuho Bank and Mizuho Information & Research Institute, Inc. (now Mizuho Research & Technologies), on June 28, 2019
https://www.mizuhogroup.com/bank/news/2019/06/announcing-the-launch-of-mizuho-eco-finance.html
Examples of Sustainable Finance at IHI
https://www.ihi.co.jp/en/sustainable/finance/
IHI Sustainability Data Book 2023
https://www.ihi.co.jp/en/sustainable/data/sustainabilitydatabook/