€150 million for ITOCHU Europe’s first green loan
In March 2019, ITOCHU Treasury Centre Europe Plc, the group finance vehicle for Europe and the Middle East, raised its first green loan of EUR150 Million from Mizuho Bank and ING Bank. “Sustainability is a key driver of ITOCHU Europe’s business activities”, declared Mr Hiroshi Sato, CEO of ITOCHU Europe, whose company joined CSR Europe in August 2018.
The result was achieved thanks to the adoption of the 2019 Green Finance Framework, which is aligned with four core components of the International Capital Market Association’s Green Bond Principles (GBP), and the Loan Market Association’s Green Loan Principles (GLP): use of proceeds, process of project evaluation and selection process, management of proceeds, and reporting.
An important step towards this first green finance, procured by any Japanese trading houses, was taken in April 2018 with the adoption of the Environmental, Social and Governance (ESG) mindset to identify material sustainability issues in its Medium-Term Management Plan “Brand-new Deal 2020”.
For more information:
Discover CSR Europe Materiality Assessment for Companies