Sustainability Finance

Sustainability finance refers to financing projects that meet both the Green Bond Principles and the Social Bond Principles. There are also growing variety of funding methods which does not specify the use of proceeds - i.e. bonds and loans that link the issuer's improvement in sustainability performance to the terms of the funding, or, positive impact finance in which both borrowers and lenders are committed to addressing the SDGs of the overall corporate activities. R&I provides Second Opinions for such financing on their alignment with various principles related to SDGs/ESG finance, not limited to either environmental conservation or social contribution.

(*1) Includes the sponsor of the project and the originator of the securitized project, etc.

Published Date Issuer, etc.*1 Instrument Name Use of Proceeds Opinion Issue Amount
(mn)
Latest Date of Monitoring
May. 13, 2020 Tokyo Metro Co., Ltd. Tokyo Metro Sustainability Bond Framework Clean transportation/Climate change adaptation/Renewable energy/Affordable basic infrastructure Opinion - -
Apr. 10, 2020 Ricoh Co., Ltd. Ricoh Co., Ltd. Sustainability Linked Loan - Opinionpdf JPY 10,000 -
Dec. 03, 2019 East Japan Railway Company East Japan Railway Company sustainability Bond Clean transportation/Climate change adaptation/Affordable basic infrastructure Second Opinionpdf - -
Jun. 14, 2019 OBAYASHI CORPORATION OBAYASHI CORPORATION Unsec. Str. Bonds No. 24(Obayashi Corporation Sustainability Bond) Green buildings/Renewable energy/Access to essential services Second Opinionpdf JPY 10,000 Jun. 30, 2020
Mar. 07, 2019 ASICS Corporation ASICS Corporation Unsecured Straight Bond No.2(ASICS Corporation Sustainability Bond) Eco-efficient and/or circular economy adapted products, production technologies and processes/Energy efficiency/Renewable energy/Pollution prevention and control/Access to essential services/Socioeconomic advancement and empowerment Second Opinionpdf JPY 20,000 Mar. 31, 2020
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ESG-related services is not the Credit Rating Business, but one of the Ancillary Businesses (businesses excluding Credit Rating Service but are ancillary to Credit Rating Activities) as set forth in Article 299, paragraph (1), item (xxviii) of the Cabinet Office Ordinance on Financial Instruments Business, etc. With respect to such business, relevant laws and regulations require measures to be implemented so that activities pertaining to such business would not unreasonably affect the Credit Rating Activities, as well as measures to prevent such business from being misperceived as the Credit Rating Business.