MITSUBISHI HEAVY INDUSTRIES, LTD. Press Information
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Tokyo, March 29, 2024 - Mitsubishi Heavy Industries, Ltd. (MHI) has concluded a Positive Impact Finance (Note1) agreement with Sumitomo Mitsui Trust Bank, Limited (SuMi TRUST Bank) (contract amount: JPY 10.0 billion yen).
MHI Group, in response to the growing need to address the global challenge of climate change, in 2020, identified five material issues, including "Provide energy solutions to enable a carbon neutral world," as priority measures to contribute to solving societal issues and ensuring continued growth over the medium to long term.
In addition, in the 2021 Medium-Term Business Plan announced that same year, MHI Group specified as growth areas "Energy Transition," aiming to achieve decarbonization in the energy supply side, and "Smart Infrastructure," supporting decarbonization, energy efficiency, and labor savings in the energy demand side. By decarbonizing both the generation and use of energy, MHI Group is contributing to achieving Net Zero carbon emissions by 2040 and realizing a carbon neutral world.
In concluding this agreement, SuMi TRUST Bank conducted a Positive Impact Evaluation (this evaluation). The following themes were selected from the MHI Group's materiality issues and other topics as activities that contribute to achieving the UN SDGs (Sustainable Development Goals). For this evaluation, a second opinion has been obtained from the Japan Credit Rating Agency, Ltd. (Note2) on compliance with respect to the Principles for Positive Impact Finance and the rationality of the evaluation indicators used.
| Theme | Impact | Targets and Indicators (KPIs) | SDGs |
| Contributing to the realization of a carbon neutral world | Reduction of GHG emissions | (a) Reduce CO2 emissions Target Reduce total CO2 emissions from business activities (Scope 1 and 2) by 50% by 2030 (compared to 2014 levels), and achieve net zero by 2040 Indicator (KPI) Total CO2 emissions from business activities (Scope 1 and 2) (consolidated basis) (b) Reduce CO2 emissions across the MHI Group's entire value chain Target Reduce CO2 emissions across the MHI Group's entire value chain (Scope 3 + CCUS (Carbon dioxide Capture, Utilization and Storage) contribution for CO2 reduction) by 50% by 2030 (compared to 2019 levels), and achieve net zero by 2040 Indicator (KPI) CO2 emissions across the entire value chain (Scope 3 + CCUS contribution for CO2 reduction) (consolidated basis) | |
| Contributing to fully automated and labor-saving measures | Fully automated and labor-saving measures | (a) Implement fully automated and labor-saving measures Target Promote the development and practical application of technologies that enable the remote operation and automatic inspection of products, businesses and infrastructure Indicator (KPI) Status of initiatives on the development and practical application of technologies that enable remote operation and automatic inspection of products, businesses and infrastructure | |
| Promote diversity | Project new value through participation of diverse human resources | (a) Project new value through participation of diverse human resources Targets
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The results of these measures will be disclosed on the MHI Group website, in the MHI Group SUSTAINABILITY DATABOOK, and in the MHI Group INTEGRATED REPORT, etc.
The MHI Group aims to contribute to the sustainable enhancement of corporate value and the realization of a sustainable society by leveraging the Group's comprehensive capabilities and strengths to enrich people's lives.
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1Positive Impact Finance
Positive Impact Finance (PIF) is a loan intended to provide continuous support for corporate activities while comprehensively analyzing and evaluating the impacts (both positive and negative) that those activities have on the environment, society, and the economy, based on the Principles for Positive Impact Finance and implementation guidelines formulated by the United Nations Environment Programme Finance Initiative (UNEP FI). The key feature of PIF is the use as an evaluation indicator the degree of contribution to achieving the SDGs through corporate activities, products, and services, and monitoring based on disclosed information. United Nations Environment Programme Finance Initiative (UNEP FI)
The UNEP FI is a broad-based, close partnership between the UNEP and more than 200 global financial institutions. Established in 1992, UNEP FI coordinates with financial institutions, policy agencies, and regulatory bodies to facilitate a shift to financial systems that integrate economic development with environmental, social, and governance (ESG) considerations. United Nations Environment Programme (UNEP)
The UNEP is an auxiliary agency of the UN established in 1972 to implement the Human Environment Declaration and the International Environmental Action Programme. Principles for Positive Impact Finance
The Principles for Positive Impact Finance, formulated by the UNEP FI in January 2017, is a financial framework for achieving SDGs. Companies disclose their contributions to achieving SDGs as KPIs. Banks then assess the positive impact of those contributions and provide funding to enhance the beneficial impacts of that company, and to encourage reduction of negative impacts. Banks provide funds as responsible financial institutions, monitoring the KPIs to confirm that the impacts are ongoing. - 2For more information about the Japan Credit Rating Agency, Ltd., visit the following website:
https://www.jcr.co.jp/en/
Reference Links
■ MHI Group Sustainability
- https://www.mhi.com/sustainability
■ MHI Group SUSTAINABILITY DATABOOK 2023 (FYE March 31, 2023)
- https://www.mhi.com/sustainability/library/pdf/sustainabilitydatabook2023.pdf
■ MHI Group INTEGRATED REPORT 2023 (FYE March 31, 2023)
- https://www.mhi.com/finance/library/annual/pdf/report_2023.pdf
Mitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.
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Mitsubishi Heavy Industries Ltd. published this content on 29 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 March 2024 06:33:02 UTC.
