Japan’s Kawasaki Heavy Industries has decided to issue its first sustainability-linked bond amounting to JPY 10 billion ($90.8 million).
As informed, Kawasaki plans to use the funds raised through public offering in the domestic market for projects to build a clean hydrogen supply chain and the popularization of the automated robotic PCR testing system.
A framework of the bond was established in accordance with the Green Bond and Social Bond Principles of the International Capital Markets Association (ICMA). Based on this framework, eligible projects for the realization of a sustainable society will be selected, and the funds required for these projects will be procured through the public offering in the domestic market, the company said.
Establishment of a clean hydrogen supply chain
Kawasaki is developing and demonstrating hydrogen for all uses in the hydrogen supply chain, including production, transportation, storage, and utilization.
It is also contributing to the construction and expansion of the supply chain for the hydrogen market, which is expected to expand in the future.
Through issuing the bond, Kawasaki intends to accelerate initiatives for sustainability management to realize “Group Vision 2030: Trustworthy Solutions for the Future, strengthen engagement with stakeholders, and contribute to the achievement of the SDGs and realize a sustainable society.