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Nomura Leads First Green Bond Offering in Japanese Chemical Industry

Nomura Securities Co., Ltd., a wholly owned subsidiary of Nomura Holdings, Inc., today announced that it has priced a five-year Green Bond [1] issue valued at 5 billion yen for Kaneka Corporation. Nomura acted as bookrunner and green bond structuring agent [2] for the offering, which was the first such offering for a Japanese chemical manufacturer.

In June 2018, Kaneka Group established the ESG Charter under its corporate philosophy: “With people and technology growing together into creative fusion, we will break fresh ground for the future and tie in to explore New Values. We are also committed to challenge the environmental issues of our planet and contribute to upgrading the quality of life.” In keeping with the charter, Kaneka Group aims to realize a sustainable and affluent society by conserving resources and reducing environmental impacts over the life cycle of its products.

In recent years, there have been growing concerns about the adverse effects microplastics floating in the ocean have on the ecosystem and human health. To help resolve environmental pollution issues caused by single-use plastics and leave a beautiful global environment for future generations, Kaneka has worked to develop the biodegradable biopolymer PHBH since 2009. The company is the first in the world to successfully develop 100% plant-based biopolymers for practical use.

PHBH offers excellent biodegradability and is expected to contribute to the reduction of marine pollution. To accelerate its efforts, Kaneka will use the proceeds from the offering toward the construction of manufacturing facilities as well as for further research and development of PHBH.

The Nomura Group ESG Statement was published in January this year. The purpose of this statement is to further promote the realization of a sustainable environment and society by informing stakeholders about the firm’s approach to ESG-related activities and its envisaged response to environmental and social risks.

The United Nations’ Sustainable Development Goals (SDGs) have gained widespread recognition in recent years. As part of this, green bonds aimed at addressing environmental issues, social bonds that target social outcomes, and sustainability bonds used for both social and green projects have been attracting attention globally.

By underwriting these types of bonds, Nomura aims to support the growth of the SDG bond market in Japan, and serve as a bridge between investors who want to contribute to society and projects with capital needs that aim to resolve social issues such as climate change, innovation and regional revitalization. Nomura will also work to contribute to economic and sustainable social development and promote initiatives to achieve the SDGs.

Next Finance , September 2019


[1] Green bonds are any type of bond instrument where the proceeds will be exclusively applied to finance eligible Green Projects. Kaneka has developed a green bond framework for the offe ring in accordance with the 2018 Green Bond Principles and the 2017 Green Bond Guidelines. Kaneka’s green bond has received a Second-Party Opinion from R&I to ensure the fra mework conforms to the 2018 Green Bond Principles and the 2017 Green Bond Guidelines. The company has received a GA1 rating

[2] A green bond structuring agent supports the issuance of green bonds by advising issuers on the development of a green bond framework and on obtaining a second-party opinion.

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