Press Release
Development of Green/Transition Finance Framework and Chubu Electric Power’s First Financing Based on Transition Loans
November 30, 2023
Chubu Electric Power Co.,Inc.
Chubu Electric Power Co., Inc. today formulated the Chubu Electric Power Green/Transition Finance Framework (“the Framework”) to promote efforts toward realizing a carbon-free society and to further diversify financing.
From here on, the Framework will be harnessed to implement green finance (corporate bonds and borrowings applied only to businesses with environmental improvement benefits [e.g., development of renewable energy]) and transition finance (corporate bonds and borrowings applied only to businesses that adhere to long-term transition strategies for achieving a carbon-free society) activities.
The Framework has received an evaluation of its eligibility for various green/transition finance-related standards by DNV BUSINESS ASSURANCE JAPAN K.K., a third-party evaluation firm.
Further, transition loan-based financing applied to investments in power distribution advancements, and aimed at further renewable energy introduction, has been secured from MUFG Bank, Ltd. based on the Framework.
Together with communities and customers, Chubu Electric Power Group aims to simultaneously achieve “decarbonization” and “safety, stability and efficiency” through the innovation of the energy infrastructure.
(Note) MUFG Bank, Ltd. and Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. have offered support in developing the Framework.