Nippon Life confirms ¥400m blue bond investment

Written by Michael Griffiths

28/10/2022

Nippon Life has announced a new ¥400m blue bond investment issued by Japanese seafood company, Maruha Nichiro Corporation.

The move marks the first blue bond issuance in Japan and Nippon Life’s first investment in a blue bond.

Blue Bonds are bonds in which the use of the funds raised is limited to marine and water-related environmental protection projects, such as the protection of marine ecosystems and the sustainable use of water resources.

Nippon Life revealed that the funds raised by issuing the bond will be used for the environmentally sustainable fisheries and aquaculture operations.

The Blue Finance Framework, formulated by Maruha Nichiro, has been applied to the issuance of the bond and is compatible with the Green Bond Principles 2021, established by the International Capital Market Association (ICMA), the Guidelines for Blue Finance established by the International Finance Corporation (IFC), and other relevant guidelines.

“Nippon Life is strengthening its ESG investment and finance, given its mission and the public nature of the life insurance business and from the standpoint that it has always worked to coexist with the environment, communities and society, and to share stable growth with the economy and other companies,” the Japanese insurer stated.

“Going forward, Nippon Life will continue to engage in ESG investment and financing with the aim of contributing to the realisation of a sustainable society and better serving the interests of policyholders.”

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