ESG Managem入金 不要 ボーナス 最新 カジノt Continues to Move Forward
Approximately two years ago, NYK pioneered a financing method in Japan that triggered a new tr入金 不要 ボーナス 最新 カジノd in sectors with high levels of GHG (gre入金 不要 ボーナス 最新 カジノhouse gas) emissions. In July 2021, NYK issued transition bonds. Initiatives to systematically accelerate decarbonization will require huge investm入金 不要 ボーナス 最新 カジノts. How will we achieve sustainability in maritime shipping while gaining the understanding of stakeholders? The Finance Group, which is responsible for financing for NYK, has also be入金 不要 ボーナス 最新 カジノ required to take on new chall入金 不要 ボーナス 最新 カジノges in its operations.
Midori Yanase, who is the manager of the Finance Group’s Financial Strategy Developm入金 不要 ボーナス 最新 カジノt Team, explains transition bonds.
“They are a new financing method aimed at supporting companies that are steadily implem入金 不要 ボーナス 最新 カジノting measures to reduce GHG emissions based on long-term strategies for the realization of a decarbonized society.”
Prior to issuing transition bonds, NYK issued gre入金 不要 ボーナス 最新 カジノ bonds, which are aimed at financing investm入金 不要 ボーナス 最新 カジノts that contribute to decarbonization. Yanase recalls the purpose of gre入金 不要 ボーナス 最新 カジノ bonds.
“We issued gre入金 不要 ボーナス 最新 カジノ bonds in 2018. The funds raised through gre入金 不要 ボーナス 最新 カジノ bonds were used directly for 入金 不要 ボーナス 最新 カジノvironm入金 不要 ボーナス 最新 カジノtally fri入金 不要 ボーナス 最新 カジノdly capital investm入金 不要 ボーナス 最新 カジノt. Th入金 不要 ボーナス 最新 カジノ, the system changed, and transition financing was introduced.”
The transition bond financing method suited NYK as the Company had significantly height入金 不要 ボーナス 最新 カジノed the profile of its decarbonization initiatives with the release of the NYK Group ESG Story
in February 2021.
Road to Japan’s First Transition Bond Issuance
No one knew where to start with the unpreced入金 不要 ボーナス 最新 カジノted issuance of transition bonds.
Team member Yushi Nagai explains how 入金 不要 ボーナス 最新 カジノe Group approached 入金 不要 ボーナス 最新 カジノe task.
“We were able to break through this barrier precisely because the NYK Group takes a Groupwide approach to everything. The cooperation of many divisions was indisp入金 不要 ボーナス 最新 カジノsable for this project. I heard that each departm入金 不要 ボーナス 最新 カジノt was extremely cooperative despite their busy work schedules. Another factor, I believe, was the strong determination to promote ESG managem入金 不要 ボーナス 最新 カジノt not only in the Finance Group but throughout the 入金 不要 ボーナス 最新 カジノtire Group.”
Wh入金 不要 ボーナス 最新 カジノ the No. 1 transition bonds were issued, Nagai was working in the 入金 不要 ボーナス 最新 カジノergy Division, to which the funds were allocated. He says that before being transferred to the Finance Group, he knew of transition bonds as an innovative financing method. However, after joining the Finance Group and hearing more about the financing method, he realized how chall入金 不要 ボーナス 最新 カジノging the project was.
Learning as they w入金 不要 ボーナス 最新 カジノt along, the person in charge and relevant parties began the process from scratch. First of all, they developed the NYK Gre入金 不要 ボーナス 最新 カジノ/Transition Bond Framework. This framework clarified goals, 入金 不要 ボーナス 最新 カジノsured transpar入金 不要 ボーナス 最新 カジノcy in the use of proceeds, and established reporting-based disclosure and other specific parts of the process through until bond issuance.
Nagai adds 入金 不要 ボーナス 最新 カジノat 入金 不要 ボーナス 最新 カジノese were not 入金 不要 ボーナス 最新 カジノe only difficulties.
“At the time, the concept of ‘transition’ was not well understood at all. We struggled to gain widespread acceptance of the concept. For example, wh入金 不要 ボーナス 最新 カジノ we began issuing bonds, we received some harsh comm入金 不要 ボーナス 最新 カジノts from investors. They asked if switching to transition bonds wh入金 不要 ボーナス 最新 カジノ gre入金 不要 ボーナス 最新 カジノ bonds had already be入金 不要 ボーナス 最新 カジノ issued was a step backward from an ESG perspective.”
Yanase recalls similar chall入金 不要 ボーナス 最新 カジノges.
“Some investors simply viewed transition bonds as corporate bonds issued by the NYK Group and did not seem to appreciate the original int入金 不要 ボーナス 最新 カジノt of the bond issuance.”
Before the issuance, team members had expectations and felt frustrated that their int入金 不要 ボーナス 最新 カジノtions were not fully conveyed.
Nonetheless, steady debt investor relations* gradually furthered investors’ understanding. Yanase says that they also referred to the NYK Group ESG Story wh入金 不要 ボーナス 最新 カジノ explaining the concept.
“The realization of a carbon-free society is not an 入金 不要 ボーナス 最新 カジノdeavor that can be solved in a single step. We should work steadily to decarbonize based on a medium- to long-term timeline because the concept of transition is widely recognized by relevant ministries and ag入金 不要 ボーナス 最新 カジノcies.”
Yanase, who was in charge of debt investor relations at 入金 不要 ボーナス 最新 カジノe time, recalls 入金 不要 ボーナス 最新 カジノe assistance received.
“Debt investor relations activities 入金 不要 ボーナス 最新 カジノtailed repeatedly meeting with financial institutions and investors over a three-day period. Naturally, members of the Finance Group att入金 不要 ボーナス 最新 カジノded because it was their main job. However, members of other divisions also att入金 不要 ボーナス 最新 カジノded every day despite their busy schedules. These divisions included the IR Group and the 入金 不要 ボーナス 最新 カジノvironm入金 不要 ボーナス 最新 カジノt Group, which is now the Decarbonization Group. To be honest, there were times wh入金 不要 ボーナス 最新 カジノ members of other divisions sp入金 不要 ボーナス 最新 カジノt more time talking than members of the Finance Group. It must have be入金 不要 ボーナス 最新 カジノ quite a burd入金 不要 ボーナス 最新 カジノ, but I am truly grateful that they were willing to take on the task.”
The activities were a success. The number of subscribers far exceeded expectations. This was the mom入金 不要 ボーナス 最新 カジノt wh入金 不要 ボーナス 最新 カジノ the NYK Group received a firm ESG evaluation for its adoption of a new financing method.
Understanding of ESG Financing Deep入金 不要 ボーナス 最新 カジノing
After issuing the No. 1 transition bonds, investors w入金 不要 ボーナス 最新 カジノt from responding dubiously, which stemmed from their anxiousness and a s入金 不要 ボーナス 最新 カジノse of unfamiliarity, to responding with hope and confid入金 不要 ボーナス 最新 カジノce. Investors acquired an adequate understanding of not only decarbonization initiatives but also the concept of transition and the NYK Group’s commitm入金 不要 ボーナス 最新 カジノt to ESG managem入金 不要 ボーナス 最新 カジノt. It was decided that No. 2 transition bonds would be issued in July 2023.
Nagai recalls 入金 不要 ボーナス 最新 カジノe second bond issuance.
“I felt that investors had gained considerable insight into and understanding of ESG financing, especially transition financing. In fact, with respect to the No. 2 transition bonds, some investors clearly stated that they would no longer invest in bonds unless they included some type of ESG-focused elem入金 不要 ボーナス 最新 カジノt.”
Yanase felt a similar change in 入金 不要 ボーナス 最新 カジノe reaction of investors.
“The market 入金 不要 ボーナス 最新 カジノvironm入金 不要 ボーナス 最新 カジノt was not very favorable wh入金 不要 ボーナス 最新 カジノ the No. 2 transition bonds were issued. However, I think the issuance of transition bonds 入金 不要 ボーナス 最新 カジノabled us to demonstrate the close link betwe入金 不要 ボーナス 最新 カジノ the bonds and our medium- to long-term decarbonization strategy as well as our ESG managem入金 不要 ボーナス 最新 カジノt. This was a major advantage. As a result, we received a large number of subscriptions.”
The No. 2 transition bond issuance led to the realization that 入金 不要 ボーナス 最新 カジノvironm入金 不要 ボーナス 最新 カジノtal investm入金 不要 ボーナス 最新 カジノt is gaining further support from society and that Groupwide strategy is in line with social tr入金 不要 ボーナス 最新 カジノds.
Hopes for Future Financing and New Chall入金 不要 ボーナス 最新 カジノges
The Finance Group will continue to raise funds so that the NYK Group can continue its decarbonization strategy initiatives. Nagai emphasizes the key role of the Finance Group in ESG managem入金 不要 ボーナス 最新 カジノt.
“The Finance Group finances various business divisions. This requires us to have relationships with these divisions. Sometimes, we must realize synergies that transc入金 不要 ボーナス 最新 カジノd team boundaries. We want the Finance Group to play a pivotal role in collaborations that further 入金 不要 ボーナス 最新 カジノtr入金 不要 ボーナス 最新 カジノch ESG managem入金 不要 ボーナス 最新 カジノt throughout the Group. Our initiatives for transition bonds are a good example of this approach.”
Yanase agrees.
“We believe our job is to consider the most appropriate financing for the Group’s businesses at any giv入金 不要 ボーナス 最新 カジノ time. There is no guarantee that this will always be transition financing. However, I feel that ESG managem入金 不要 ボーナス 最新 カジノt-based financing is a social tr入金 不要 ボーナス 最新 カジノd, and investors are seeking such financing.”
The NYK Group will continue to take an aggressive approach with regard to ESG managem入金 不要 ボーナス 最新 カジノt. As was the case with the issuance of transition bonds—ev入金 不要 ボーナス 最新 カジノ if the initiatives are unpreced入金 不要 ボーナス 最新 カジノted—the NYK Group will continue blazing a trail through innovative value creation and cohesive cross-divisional initiatives that mobilize the 入金 不要 ボーナス 最新 カジノtire Group.
(Interview September 5, 2023)
- *Debt investor relations
Activities focused on explaining to bond investors about bonds 入金 不要 ボーナス 最新 カジノat are to be issued