Tokyo Gas Issues Transition Bond for the First Time as a City Gas Supplier

Source: www.gulfoilandgas.com 2/14/2022, Location: Asia

Tokyo Gas Co., Ltd. has determined to issue a transition bond*1 (hereinafter, “the Corporate Bond”) through a domestic public offering platform for the first time as a city gas supplier in Japan. The Corporate Bond has been selected as a model case for the Ministry of Economy, Trade and Industry's the 2021 Climate Transition Finance Model Project.

The Corporate Bond will be issued as a new financing method to promote low-carbon and decarbonization initiatives including by demand side during the transition period toward realizing a decarbonized society. The funds raised through the Corporate Bond will be used for investments in three projects promoted by Tokyo Gas Group (Niihama LNG Project, Smart Energy Network Project, and Harumi Hydrogen Project).

The Corporate Bond will be the second ESG bond to be issued by Tokyo Gas, following the green bonds issued in December 2020.

Toward achieving Group Management Vision “Compass 2030*2”, Tokyo Gas announced “Compass Action*3” in November 2021, with a vision to lead the transition toward carbon neutrality. While utilizing ESG finance, Tokyo Gas will invest approximately two trillion yen by 2030 in growth areas, including decarbonization, and contribute to the realization of a carbon neutral, decarbonized society by 2050.

Formulation of a transition finance framework and obtainment of external evaluation
As a finance framework to lead the transition toward carbon neutrality, the Tokyo Gas Transition Finance Framework (hereinafter, “the Framework”) has been formulated.

Tokyo Gas has obtained a second-party opinion from DNV BUSINESS ASSURANCE JAPAN K.K., a third-party evaluation company, with regard to the conformity of the Framework and the Corporate Bond to various guidelines.


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