AsiaEnvironmentFinance and Insurance
NYK becomes world’s first shipping line to offer green bonds
Next month Japan’s Nippon Yusen Kaisha (NYK) will become the first shipping line in the world to offer green bonds to raise capital.
A green bond is one in which the proceeds are used solely for the purpose of funding environment-friendly projects.
The Y10bn ($93.5m) of bonds NYK will issue have a five-year maturity. Money raised will go on projects including LNG-fuelled ships, LNG bunkering vessels, ballast water treatment equipment and scrubbers.