A first in Japan! A four-lane road widening project that helps ensure alternative road network availability during heavy snowfall receives third-party evaluation by Sustainability Finance as a project adapting to climate change
-Our first sustainability bond of 50 billion yen is scheduled to be issued in July-
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- A first in Japan! A four-lane road widening project that helps ensure alternative road network availability during heavy snowfall receives third-party evaluation by Sustainability Finance as a project adapting to climate change
June 10, 2024
East Nippon Expressway Co., Ltd.
NEXCO EAST (Chiyoda Ward, Tokyo) today received a third-party assessment *1 on sustainability finance from Rating Investment Information, Inc. (R&I, Chiyoda Ward, Tokyo). This is the first time in Japan that a four-lane road widening project that deals with heavy snowfall has received a third-party assessment on sustainability finance (according to our research).
Sustainability finance is a method of raising funds aimed at funding projects aimed at solving environmental and social issues such as climate change.
Since June 2019, we have been raising funds through social finance *2 and working to resolve social issues through road construction projects and other activities.
The four-lane road project that we are promoting will ensure traffic function by allowing two of the four lanes to be used in opposite directions when vehicles become stranded or slopes collapse due to heavy snow or rain, and will also function as an alternative route when the parallel general road is closed. This has been recognized as contributing to the solution of environmental issues, and we have received a new third-party evaluation from R&I (see table below). In July of this year, we will issue our first sustainability bond (environmental and social contribution bond) for 50 billion yen.
NEXCO EAST will use the funds raised to tackle social and environmental issues, aiming to realize a sustainable society through Expressway business.
- Evaluation that the bond complies with the Sustainability Bond Guidelines set by the International Capital Market Association (ICMA)
- The proceeds will be used to help resolve social issues
Prevent road network disruptions due to road jams and landslides
Projects aimed at prevention (climate change adaptation)
Projects that have received third-party evaluation as climate change adaptation projects (green projects) (as of June 2024)
| Route name | Target section | Environmental Issues | Route name | Target section | Environmental Issues |
|---|---|---|---|---|---|
| DOTO EXPWY | Shimukappu IC-Tomamu IC | During heavy snow Ensuring network alternatives |
Ban-Etsu Expressway | Mikawa IC-Yasuda IC | During heavy snow and rain Ensuring network alternatives |
| Tomamu IC-Tokachi Shimizu IC | During heavy rain Ensuring network alternatives |
Aizu Sakashita IC-Nishi Aizu IC | During heavy snow Ensuring network alternatives |
||
| Akita | Kitakami West IC-Yuda IC | During heavy snow Ensuring network alternatives |
Nishiaizu IC-Tsugawa IC | During heavy snow Ensuring network alternatives |
About Sustainability Finance
Funds raised through the sustainability finance framework will be allocated to the following projects:
- SBP: Social Bond Principle
GBP: Green Bond Principle
Examples of projects that have received funding through social finance
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