Mitsui OSK Lines has secured fresh loans to finance six newbuildings after establishing a sustainable finance framework statement.
The Japanese group signed three transition loans and one transition-linked loan in December. It is also scheduled to conclude another transition-linked loan in January or February.
The loans will finance the construction of two LNG dual-fuel ferries, a bulk carrier equipped with MOL’s Wind Challenger sail, one LNG dual-fuel pure car/truck carrier, an LNG dual-fuel VLCC and one VLGC.
Transition-linked loans take into account greenhouse gas reduction targets that MOL has set in advance, when determining loan conditions, including the interest rate.
Its sustainability finance framework is in line with key principles, including the Climate Transition Finance Handbook 2023 of the International Capital Market Association.
The company has also obtained a second-party opinion from DNV Business Assurance Japan on the framework’s eligibility.
MOL can flexibly and continuously use the framework to raise funds through sustainable finance.
“We will continue efforts toward sustainable finance by utilising this framework in a funds procurement as well,” it said.
MOL has positioned environmental strategy as one of its major strategies and has set marine and global environmental conservation as one of the sustainability issues in its group management plan.
