KH Neochem Co., Ltd. (TSE: 4189, President and CEO: Michio Takahashi, “KH Neochem”) announces that it has concluded an agreement for Mizuho Eco Finance*, a syndicated environmental-assessment-based loan arranged by Mizuho Bank, Ltd. (President and CEO: Masahiko Kato)
Mizuho Eco Finance is an environmental-assessment-based financial product aimed at working with companies to promote initiatives for a decarbonized society. An environmental assessment model developed by Mizuho Research & Technologies, Ltd. is used to score companies on their initiatives and on various indexes, with those that achieve a certain score or above being allowed to proceed with a loan agreement.
KH Neochem was evaluated and reached the conclusion to this agreement because founded to meet a high standard in the indexes used by the assessment model below:
- ⅰ.KH Neochem declared its support for the Task Force on Climate-related Financial Disclosures (TCFD) recommendations in January 2022.
- ⅱ.KH Neochem has appropriately tracked Scope 1, 2, and 3 greenhouse gas emissions and has set a target to reduce greenhouse gas emissions by 30% compared to the FY2017 levels by FY2030 (Scope 1,2), and is actively working towards this reduction goal.
KH Neochem, with the corporate mission of “Realizing a brighter tomorrow for society through the power of chemistry.”, is a manufacturer of chemical materials that provides unique and high quality products. KH Neochem committed to Sustainable Management that combines contributing to a sustainable society through our business and ensuring ongoing growth in our own corporate value. Its current linchpin is “refrigeration lubricant raw materials” used in environmentally friendly air conditioners which contribute to curbing global warming. Furthermore, our core technology, the oxo synthesis** process, utilizes CO2 as a raw material. We also endeavor to reduce GHG emissions by capturing some of the CO2 generated from our own manufacturing processes as a raw material.
Going forward, to realize VISION 2030*** aiming to become A Leading Global Specialty Chemical Company, KH Neochem will continue to further promote Sustainable Management and contribute to the sustainable development of society. In addition, KH Neochem will respond to the demands of the international community by proactively promoting ESG and SDGs initiatives, and will continue to strive to disclose ESG-related information.
For more details on the KH Neochem initiatives, please see KH Neochem Report 2023
https://www.khneochem.co.jp/en/csr/pdf/khneochem_report_2023_en.pdf
*Mizuho Eco Finance
https://www.mizuhogroup.com/information-and-research/news/2019/06/announcing-the-launch-of-mizuho-eco-finance.html
**Oxo synthesis
Also known as hydroformylation, oxo synthesis is a process where oxo gas, which is a mixture of carbon monoxide and hydrogen, reacts with raw materials, such as olefins, to synthesize aldehydes. Aldehydes can be reduced to alcohol or oxidized to fatty acids, and various derivatives can be synthesized. It is also characterized by the use of carbon dioxide (CO2) as a raw material in the oxo gas production process.
***VISION 2030
https://www.khneochem.co.jp/en/company/philosophy/vision.html
20240419_KHNeochem_concludes_Mizuho_Eco_Finance_Loan_Agreement_with_Mizuho_Bank
For inquiries regarding this matter, please contact
Corporate Communications and Investor Relations
KH Neochem Co., Ltd.
kouhou@khneochem.co.jp