Mitsui Chemicals concludes loan agreement With Mizuho Bank

Mitsui Chemicals concludes loan agreement With Mizuho Bank

Company assessed on efforts toward supply-chain-wide decarbonization

  • By ICN Bureau | February 28, 2024

Mitsui Chemicals announced that it has concluded an agreement for Mizuho Eco Finance, a syndicated environmental-assessment-based loan arranged by Mizuho Bank, Ltd.

Mizuho Eco Finance is an environmental-assessment-based financial product aimed at working with companies to promote initiatives for a decarbonized society. An environmental assessment model developed by Mizuho Research & Technologies, Ltd. is used to score companies on their initiatives and on various indexes, with those that achieve a certain score or above being allowed to proceed with a loan agreement.

Mitsui Chemicals was found to meet a high standard in the indexes used by the assessment model, with the company having, among other initiatives, declared its support for the recommendations of   the Task Force on Climate-related Financial Disclosures (TCFD) in January 2019; formulated the Climate Change Policy that it is leveraging to reduce greenhouse gas emissions throughout its entire supply chain; and continued to calculate and disclose its volume of greenhouse gas emissions each fiscal year to mark its progress.

This strong performance in the assessment opened the path for the company to conclude a loan agreement for Mizuho Eco Finance.

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