Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara) has served as the arranger for a syndicated Mizuho Eco Finance* deal providing financing to Denka Company Limited (Representative Director, President: Manabu Yamamoto), and the related parties concluded an agreement today.
At Mizuho, our proactive dialogue (engagement) with clients has allowed us to develop a deep understanding of our clients’ challenges and needs. We actively provide a diverse range of solutions to support clients’ SDG- and ESG-related initiatives and innovations.
Mizuho Eco Finance is an environmental assessment-based financial product through which we take action alongside our clients to advance the shift to a low-carbon society. The financing provided by Mizuho Bank is linked to the achievement of a certain minimum score under the environmental assessment model developed by Mizuho Information & Research Institute, Inc., which scores clients’ initiatives and benchmarks based on globally trusted environmental accreditation and assessment criteria among other factors.
Addressing climate change is becoming increasingly important, and through this syndicated Mizuho Eco Finance deal Mizuho, along with the other participating financial institutions, will provide financial support for Denka’s efforts to combat climate change.
Mizuho has evaluated Denka highly based on the high levels achieved on our environmental evaluation model, which included factors such as Denka’s endorsement of the Task Force on Climate-related Financial Disclosures in September 2020, their disclosure of the CO2 emissions for their entire supply chain, and their target of becoming carbon neutral by FY2050. In addition, Denka is increasing its private hydraulic power generation facilities and expanding its use of clean energy, among other actions.
At Mizuho, we are working as a unified group to further incorporate sustainability initiatives into our business strategy. We will draw on our expertise as a financial services group to proactively provide a wide range of solutions, including advisory and capital financing support, to businesses that are contributing to the shift to a low-carbon society.
*Mizuho Eco Finance:
See our press release dated June 28, 2019: “Announcing the launch of Mizuho Eco Finance”.
https://www.mizuhogroup.com/bank/news/2019/06/announcing-the-launch-of-mizuho-eco-finance.html
Overview
Borrower: Denka
Arranger: Mizuho Bank
Lenders: Japanese financial institutions
Agreement date: March 26, 2021
Scheduled effective date: March 31, 2021