MOL in Japan first, offering sustainability bonds to individual investors
Next month Mitsui OSK Lines (MOL) will become the first company in Japan to issue sustainability bonds aimed at individual investors, with some of the cash raised targeted for scrubber purchases.
Sustainability bonds are used to both finance and refinance what are judged as green projects, which protect and improve the environment, and social projects. The new bonds will be offered to both institutional and individual investors.
MOL has acquired an SU1 credit rating, the highest possible, in a preliminary sustainability finance evaluation from the Japan Credit Rating Agency (JCR).
The funds will go towards a variety of investments including MOL’s maritime academy in the Philippines, ballast water treatment systems, scrubbers, LNG-fuelled ships, an LNG bunker barge and research into rigid sail technology.