MOL procures loan for sustainability
The Japanese carrier MOL recently made use of another transition-linked loan with Sumitomo Mitsui Banking Corporation. This is Japan’s first global commitment line agreement using this kind of loan. It is a financial instrument designed to assist companies that are taking action on climate change and are committed to reducing greenhouse gas (GHG) emissions.
It is the third such loan that MOL has procured, following previous financing arrangements for the LNG bunkering vessel “Gas Vitality” and the bulk carrier “Shofu Maru” equipped with the Wind Challenger.
The funds now awarded are not tied to a specific vessel. MOL has established a transition finance framework that sets sustainability performance targets for the goals set forth in the group's environmental vision 2.1. The MOL Group plans to achieve net zero emissions by 2050. This loan will enable the group to pursue this environmental strategy. The maximum loan amount is JPY 60 billion (USD 460 million). (sh)