Mitsubishi Heavy Industries, Ltd. (MHI) has submitted an updated shelf registration statement to the Director-General of the Kanto Local Finance Bureau today, in preparation for its upcoming public offering of transition bonds in the Japanese bond market.
According to the press release, MHI was recognized as a model example for the “2021 Climate Transition Finance Model Projects” by the Ministry of Economy, Trade and Industry (METI) in March 2022, and issued its first transition bonds in September 2022. This will mark MHI’s third issuance of transition bonds.
Additionally, MHI has updated its Green/Transition Finance Framework to incorporate the latest principles and guidelines, align with MHI’s 2024 Medium-Term Business Plan, and include new uses of proceeds such as solar power, biogas production, nuclear energy systems, and synthetic fuels like sustainable aviation fuel (SAF). The bonds will be issued in accordance with this revised framework.
The Mitsubishi Heavy Industries Group has identified two key growth areas: “Energy Transition,” focusing on decarbonizing the energy supply side, and “Smart Infrastructure,” which aims to achieve decarbonization and enhance energy efficiency while reducing manpower on the energy demand side. To support its focus on these areas and advance decarbonization, electrification, and intelligence in its existing businesses, MHI is leveraging sustainable finance instruments like transition bonds and green bonds.
Through this bond issuance, MHI aims to advance its energy transition efforts and contribute to the goal of achieving a Carbon Neutral society.
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