NYK, the world’s first company in the global shipping industry to issue labelled green bonds, presented its initiatives at workshop about bond sponsored by Corporate Finance and Treasury Association of JAPAN (CFTAJ) in Tokyo on November 12. A green bond is one in which the proceeds are used solely for the purpose of funding environment-friendly projects.
At the workshop, Yuichi Shirane, deputy manager of NYK’s Corporate Finance Team in the Finance Group, made a presentation about the background, purpose, and effect of the green bond issuance, and the difficulty experienced before issuing.
NYK will keep a wide range of stakeholders involved in the company’s proactive approach to environmental investment, contribute to revitalizing the domestic green bond market, and aim to realize a sustainable society.
About the NYK Green Bonds
In accordance with its medium-term management plan “Staying Ahead 2022 with Digitalization and Green,” the company issued green bonds in May this year to contribute to the sustainable development of society and enrichment of the company's corporate value.
To address environmental regulations that will be strengthened from 2020, the green bonds will be used to construct vessels powered by liquefied natural gas (LNG), develop eco-friendly fuel, equip ships with SOx scrubber systems (a system that uses seawater and chemicals to remove sulfur from ship exhaust gases), etc.