Sony Life Insurance Co., Ltd.
Investment in “Transition Bonds” Issued by Toho Gas Co., Ltd.
Sony Life Insurance Co., Ltd. (President: Tomoo Hagimoto, hereinafter “the Company”) announced today that it has issued a transition bond (Toho Gas Co., Ltd. 47th unsecured corporate bond (hereinafter “the company”) issued by Toho Gas Co., Ltd. We would like to inform you that we have decided to invest in a limited pari passu clause between corporate bonds (transition bond), hereinafter “the bond”).
A “transition bond” is a bond whose proceeds are used to invest in projects in line with a long-term transition strategy aimed at reducing corporate greenhouse gas emissions. The bonds will be issued based on the Green/Transition Finance Framework (hereinafter referred to as the “Framework”) formulated by the Company in accordance with various principles, etc. related to the issuance of transition bonds, etc. In addition, we have obtained a second party opinion from DNV Business Assurance Japan Co., Ltd. regarding compatibility with various principles of this framework.
The company recognizes that the realization of carbon neutrality in 2050 is an important issue to be addressed for the future sustainable growth of the company group. In July 2021, in response to the recent growing sense of crisis about global warming, the company formulated the “Toho Gas Group 2050 Carbon Neutral Challenge” and will continue to serve customers through the construction of clean energy systems. Together with you, we will contribute to the realization of a sustainable society and the further development of the region. The funds procured by the company through this bond will be used for projects in the three fields of “gas, hydrogen, and electricity,” which will be central to building a future energy system in the “Toho Gas Group 2050 Carbon Neutral Challenge” ( Gas: Methanation
demonstration test, Hydrogen: Hydrogen production plant, Electricity: grid storage battery and offshore wind power generation business). Through the investment in this bond, we will fulfill our
responsibilities as a responsible institutional investor and further contribute to the formation of a sustainable society.
Overview of the bond
Issue: Toho Gas Co., Ltd. No. 47 unsecured bonds (with limited pari passu clause between bonds) (transition bond)
Term: 10 years
Issue amount: 10 billion
Publication date: November 25, 2022
Details about this release: