Mitsui O.S.K. Lines announced that the MOL Group signed a deal to raise funds through transition linked loan (TLL) financing with Sumitomo Mitsui Trust Bank.
MOL has decided to apply the funds to finance the construction of an LNG dual fuel very large crude carrier (VLCC). This is the MOL Group’s sixth financing package based on the Sustainable Finance Framework formulated in January of this year.
The MOL Group has positioned environmental strategy as one of its key strategies and has set “ocean and global environmental conservation” as one of the sustainability issues (materiality) in the group management plan “BLUE ACTION 2035” established last year.
The group is committed to solving environmental issues through co-creation with its stakeholders as it aims to achieve net zero emissions by 2050. The group will utilize this framework to implement sustainable finance flexibly and continuously.
To ensure the eligibility and transparency of the framework and to improve its appeal to investors, a second-party opinion has been obtained from DNV on the eligibility of the Framework as of December 22, 2023.
