TOKYO - INPEX CORPORATION (INPEX) announced that it will issue its inaugural green bonds to promote the company's initiatives toward the realization of a net zero carbon society by 2050 and to diversify its financing sources.
The use of funds raised through the issuance of green bonds will be restricted to businesses and operations that help improve the state of the environment, such as the development of renewable energies.
This issuance of green bonds is aligned to the 'INPEX Green Bond Framework' formulated by INPEX. Third party assessment provider DNV Business Assurance Japan KK and credit rating service provider Rating and Investment Information, Inc. (R&I) have assessed or verified the eligibility of this framework against various standards related to the issuance of green bonds. The framework has also received R&I's provisional rating of GA1, the highest R&I green bond assessment rating. In addition, the framework has been certified by the Climate Bonds Initiative (CBI) 1, an international not-for-profit organization that develops a standard to ensure the credibility and transparency of green bonds.
INPEX, as outlined in its 'Business Development Strategy - Towards a Net Zero Carbon Society by 2050,' has set goals to achieve its own net zero carbon emissions by 2050 and will proactively engage in energy structure reforms towards the realization of a net zero carbon society.
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