November 1, 2023
Mitsubishi Materials Corporation
Mitsubishi Materials Corporation ("MMC") has established the Transition-Linked Finance Framework ("the framework") to promote our efforts to achieve carbon neutrality.
Transition-Linked Finance is a bond or loan with an unrestricted use of proceeds, in which a company has developed a long-term strategy to achieve a decarbonized society, sets targets in line with its transition strategy, and may change its financial and/or structural characteristics depending on the degree of achievement of targets. Based on the framework, MMC plans to issue the Transition-Linked Bond ("the TLB") after November 2023. Also, MMC plans to execute a Transition-Linked Loans ("the TLL"), and based on the execution plan of the TLL, MMC is selected as a recipient for Minister of Economy, Trade and Industry's (METI) "FY2023 subsidy for global warming countermeasures promotion project". MMC will continue to prepare to raise funds through the TLL from November 2023 onward.
As for GHG reduction target, MMC has set 45% reduction compared to FY2021 by FY2031, and carbon neutrality by FY2046. In order to achieve carbon neutrality by FY2046, we will promote the development and expanded use of renewable energy such as geothermal power, which is one of the Group's strengths. We have set a target of using 100% renewable energy for in-house electricity use by FY2036, 66% of which will come from self-sufficient in-house renewable electricity sources.
In order to raise the necessary funds to achieve the goals and promote our efforts to achieve carbon neutrality, we decided to issue the TLB and are preparing to raise funds through the execution of the TLL.
Corporate Communications Dept., Strategic Headquarters: +81-3-5252-5206