Mitsui OSK Lines has unveiled an ambitious set of eco, safety and diversity targets as part of a financing deal.
Mizuho Bank will release up to $600m, depending on assessments of whether the giant Japanese shipowner is meeting its commitments under the “positive impact” loan.
The financing will last seven years, but some of the targets run beyond that time.
The idea is to “address sustainability issues by expanding the fundraising base”, MOL said, adding that the deal is the first of its type for the company.
Key performance indicators cover five environmental, social and governance areas.
“The progress and results of these initiatives will be disclosed in the integrated report and other media issued by MOL,” the owner said.
As part of the financing, MOL has committed to making environmental investments worth ¥650bn ($4.9bn) up to 2025.
It has also pledged to having net zero emission ships running this decade, and 90 LNG and methanol-powered vessels in the fleet by 2030.
After that, it wants 130 net zero units under its control by 2035.
MOL is targeting a 45% reduction in greenhouse gas emissions by 2035, compared to 2019 levels.
There is also a commitment to zero cases of serious ship casualties, oil spills, cargo incidents and workplace accidents.
And the number of ballast water treatment systems installed on its owned ships must hit 260 in its current financial year.
The company also aims to have women in 15% of management roles by 2025.
