NYK secures $81m loan for scrubbers and green projects

NYK secures $81m loan for scrubbers and green projects
Image courtesy of NYK

NYK has entered into a 9 billion yen (US $81 million) syndicated loan agreement to fund environmentally-friendly projects and the installation of scrubbers for the reduction of sulphur oxides (SOx) emissions and IMO 2020 compliance.

NYK’s medium-term management plan includes the integration of environmental, social, and governance (ESG) initiatives into management strategy by establishing new medium to long-term environmental targets.

The targets include reducing greenhouse gas (GHG) emission by 30 per cent per ton kilometre by 2030 compared with 2015, and 50 per cent per ton kilometre by 2050.

NYK will promote green finance and continue its efforts to keep a wide range of stakeholders involved in the company’s approach to environmental investment.

This is Japan’s first syndicated loan to be certified by Japan Credit Rating Agency (JCR) with its highest ranking of “Green 1,” demonstrating the loan to be aligned with the core components of the Green Loan Principles.