Kawasaki Heavy Industries : Conclusion of Loan Agreements by Utilizing the Positive Impact Evaluation Framework
November 28, 2023 at 10:12 pm EST
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Nov. 29, 2023
Tokyo, November 29, 2023 - Kawasaki Heavy Industries, Ltd. announced today that it has concluded loan agreements ("the agreements") for positive impact finance (PIF) (with unspecified use of funds) with three lenders as part of its sustainable finance initiatives.
The agreements utilize the Positive Impact Evaluation Framework ("the Framework) provided by Sumitomo Mitsui Trust Bank, Limited ("SMTB") in December 2022, and the total number of loans using the Framework reached ten.
Lenders that have entered into the agreements
November 2023
The Chiba Bank, Ltd.
November 2023
The Joyo Bank, Ltd.
November 2023
The Nishi-Nippon City Bank, Ltd.
(alphabetical order)
By entering into loan agreements using the Framework, it is possible to reduce the burden on both the lender and the borrower, as well as to avoid discontinuity and discrepancy between the company policy and its individual sustainable finance. Through this initiative, the company will make a great contribution to the expansion and development of sustainable finance not only in the company but also in Japan.
Kawasaki has set a sustainable finance target as "50% of long-term debt in FY 2030 and 100% in FY 2050" in the Group Vision 2030 which describes the future vision the company aims to achieve by 2030. By utilizing the Framework together with the Sustainability Linked Loan Framework Template established on November 2022, Kawasaki will accelerate its sustainability management initiatives and strengthen its engagement with stakeholders to contribute to the achievement of the SDGs and a sustainable society.
Kawasaki Heavy Industries Ltd. published this content on 29 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 November 2023 03:11:01 UTC.
Kawasaki Heavy Industries, Ltd. specializes in manufacturing and marketing of transportation and industrial machines equipments. Net sales break down by activity as follows:
- sale of motorcycles and engines (29.8%);
- sale of aerospace equipments (19.9%): aircrafts, helicopters, missiles, electronic equipments, monorails, etc.;
- sale of gas turbines (19.8%): turbines for naval, marines and industrial applications, generators, propulsion systems, etc. The group also develops naval construction activity (construction of ships, submarines, bulk carriers, oil tankers, etc.);
- sale of precision machines (16.8%): primarily hydraulic machines. The group is also developing a manufacturing of industrial machinery activity (tunnel boring machines, curling machines, grinding machines, etc.);
- sale of railway equipments (8.4%): train cars, electric and diesel locomotives, monorails, etc.;
- other (5.3%).