GHG Emissions, Industrial, Finance - November 13, 2023
Mitsubishi Electric to Issue Green Bonds
Mitsubishi Electric Corporation announced it will issue green bonds for the first time to raise funds for the construction of a silicon carbide (SiC) power semiconductor plant and for the enhancement of related production facilities that handle products capable of contributing to decarbonization.
The company formulated a Green Bond Framework that specifies its policies regarding the use of proceeds, the process for project evaluation and selection, the management of proceeds, and reporting, as defined in the Green Bond Principles 2021 issued by the International Capital Market Association (ICMA) and the Green Bond Guidelines 2022 issued by Japan’s Ministry of the Environment, according to a statement.
Mitsubishi Electric’s Green Bond Framework has been evaluated by an independent third party, Rating and Investment Information, Inc. (R&I), and will be confirmed to be in compliance with the aforementioned principles and guidelines.
Mitsubishi Electric has also submitted an amended shelf registration statement for the issuance of the bonds to the Director-General of the Kanto Local Finance Bureau.