Outline of the Green Bond
| Name | Fuyo General Lease Co., Ltd. No.20 unsecured corporate bonds (limited to corporate bonds with a special agreement on the same priority) (Green Bond) |
|---|---|
| Application period | July 12, 2019 |
| Payment date | July 22, 2019 |
| Issue duration | 5 years |
| Issuance amount | 5 billion yen |
| Coupon rate | 0.150% |
| Use of proceeds | The capital raised through the Green Bond will be used to offer financial products that provide incentives to join the new 100% renewable energy initiative aimed at small- and medium-sized enterprises (the so-called “Japan RE100”). |
| Ratings | Japan Credit Rating Agency, Ltd. (JCR): A Rating and Investment Information, Inc. (R&I): A- |
Third-party assessment of green bond eligibility
Ministry of the Environment Financial Support Programme for Green Bond Issuance
The Fuyo Lease Group's Green Bond was selected as a model case for the fiscal 2019 Green Bond Issuance by the Ministry of the Environment, and June 28th, 2019 it was announced that the Ministry of the Environment and certification bodies (E&E Solutions Inc. and Japan Credit Rating Agency, Ltd.) had verified the conformity of the framework for issuing of the Green Bond with the Green Bond Guidelines, 2017.
Announcement of investment in the Green Bond
These are the investors who have announced that they will invest in the Green Bond.
List of investors who have announced investment (Japanese alphabetic order)
(As of July 12, 2019)
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THE SEISHIN SHINKIN BANK.
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Tokio Marine Asset Management Co., Ltd
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THE BANK OF NAGOYA, LTD.
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Hanno-Shinkin Bank.
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Sumitomo Mitsui Trust Asset Management Co., Ltd.
Reporting
Allocation of capital raised
The proceeds from this Green Bond were used to fund the provision of the “Fuyo 100% Renewable Electricity Declaration'' and the ''Fuyo Zero Carbon City Support Program” (both Program A) by March 2022.
Positive environmental impacts
Because it is difficult to individually calculate the reduction of carbon dioxide emissions and other positive environmental impacts for the wide range of properties subject to the Green Bond, the program execution amount, the number ofusers, expected positive environmental impacts for each property type, as well as the number of organizations participating in RE100 and the 100% Renewable Electricity Declaration RE Action since the start of the program are disclosed.
“Fuyo 100% Renewable Electricity Declaration Support Program” Program A (Green Bond) handling results (total amount spent / number of users / expected positive environmental impacts)
| Property type | Total amount spent on Program A (Oct. 2019 to Mar. 2022) |
Expected positive environmental impacts |
|---|---|---|
|
1. Renewable energy equipment (solar power, wind power, hydropower, biomass power including biogas, and geothermal power for private use) |
337 million yen / 4 organization- |
Newly created renewable energy (power generated): Approx. 2.5MW |
|
2. Energy-efficient equipment (equipment covered by the ESG Lease Promotion Project Subsidy Program or equipment with 10% or more improved energy efficiency*1) |
Promotion of low carbon and decarbonization in companies and organizations participating in RE100 and the 100% Renewable Electricity Declaration RE Action |
|
|
Projects with 30% or more improved energy efficiency |
212 million / 1 organization- |
|
|
Projects with 10% to 30% improved energy efficiency |
528 million yen / 4 organization |
|
|
3. Devices that are compliant with the Act on Promoting Green Procurement |
||
|
Information equipment, office automation equipment, etc. |
2,922 million yen / 105 organizations |
|
|
Electric vehicles, hybrid vehicles*2, plug-in hybrid vehicles*2, fuel-cell vehicles |
1,655 million yen / 75 organization |
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*1This excludes energy-efficient equipment that uses coal. In cases where non-coal fossil fuels such as oil and natural gas are used, it is possible to either reduce greenhouse gases or improve energy efficiency by at least 30% for all initiatives in buildings and other facilities including initiatives related to renewable energy, and this is limited to the replacement of equipment.
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*2Hybrid vehicles / plug-in hybrid vehicles are limited to those that satisfy emissions of less than 75 g CO₂-p/km (CO₂ emissions per person when traveling 1 km).
Participation in RE100 and the 100% Renewable Electricity Declaration RE Action
| End of July 2019 | End of July 2020 | End of July 2021 | End of March 2023 | |||||
|---|---|---|---|---|---|---|---|---|
| Number of domestic participating companies and organizations | Power consumption (Total) | Number of domestic participating companies and organizations | Power consumption (Total) | Number of domestic participating companies and organizations | Power consumption (Total) | Number of domestic participating companies and organizations | Power consumption (Total) | |
|
RE100 |
20 companies |
Approx. 17 TWh |
35 companies |
Approx. 26 TWh |
58 companies |
Approx. 46 TWh |
78 companies |
Approx. 58 TWh |
|
100% Renewable Electricity Declaration RE Action |
0 organizations |
0 GW |
71 organizations |
Approx. 914 GWh |
157 organizations |
Approx. 1.1 TWh |
319 organizations |
Approx. 1.7 TWh |
Annual Review
In an annual review by the Japan Credit Rating Agency, Ltd. (JCR), compliance with the Green Bond Principles and the Ministry of the Environment’s Green Bond Guidelines has been confirmed, and a JCR Green Bond Evaluation of “Green 1” has been obtained.
